Term of the Day

agent

party that has express (oral or written) or implied authority to act for another (the principal) so as to bring the principal into contractual relationships with other parties. An agent is under the control (is obligated to) the principal, and (when acting within the scope of authority delegated by the principal) binds the principal with his or her acts. Additional powers are assigned to...
Learn more about this term
Usage Example
Through experience and industry knowledge, a real estate agent has the ability to provide hundreds of different and often highly creative options that enable people to purchase a home, land, business space or commercial property.
Term of the Day

infrastructure

The basic physical systems of a country's or community's population, including roads, utilities, water, sewage, etc. These systems are considered essential for enabling productivity in the economyDeveloping infrastructure often requires largeinitial investment, but the economies of scale tend to be significant.
Learn more about this term
Usage Example
Common target countries and considerations include China, Latin America and developing third world nations, which lack infrastructure but are rich in natural resources.
Notable Quotable
"Power (n): The only narcotic regulated by the SEC rather than the FDA." 
-Anonymous