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Optimal resource allocation. O economic efficiency.

Optimum. A word which occurs frequently in economics, and which means simply the best value which some variable can take with

Organization for Economic Cooperation and Development (O.E.C.D.) reference to some particular objective. For instance, if a firm’s objective is to maximize profits, its optimum or best output is that at which profits are a maximum; alternatively, this output might simply be referred to as the optimum.

Option. An agreement with a seller or buyer permitting the holder to buy or sell, if he chooses to do so, at a given price within a given period. In the stock exchange, an option may be purchased from a dealer, giving the right to purchase a certain number of shares, at a certain price within a certain time, e.g. a three-month option. If in the meantime the price falls by more than the cost of the option, then the dealer will lose and the purchaser gain, and vice versa. An option to buy is a call option’, an option to sell is a put option, and one to buy or sell is a double option.

Order numbers standard industrial classification.

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