Term of the Day

pure competition

market characterized by a large number of independent sellers of standardizedproducts, free flow of information, and free entry and exit. Eachseller is a "price taker" rather than a "price maker".
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Usage Example
It's nearly impossible to find a market with pure competition, but the milk industry is pretty close in the sense that every seller is offering basically the same good.
Notable Quotable
"Everyone who ever told me that the markets are efficient is poor." 
-Larry Hite
Term of the Day

aptitude

Acquired or natural ability (usually measurable with aptitude tests), forlearning andproficiency in a specific area or discipline. Aptitude is expressed in interest, and is reflected in current performance which is expected toimprove over time with training.
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Usage Example
The student had such an aptitude with mathematics that his professor was certain he would go on to make many important contributions in the field.