Examlex
For most major currencies,forward exchange rates are usually quoted for 1 year,2 years,and 3 years into the future.
Inelastic
Describes demand that does not significantly change with a change in price.
Natural Monopoly
A market structure where a single supplier efficiently provides all the goods or services due to high fixed or start-up costs, making it impractical for multiple firms to operate.
Long-run Average Costs
The average cost per unit of output when all factors of production - including capital - can be varied, typically showing economies of scale.
Economies of Scale
The economic gains experienced by companies due to their operational scope, with per-unit production costs usually falling as the operational size expands.
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