Economic Glossary | Search costs | Bankers Algo
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Life isn\'t about finding yourself. Life is about creating yourself

-by George Bernard Shaw

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Economic Glossary

    Search costs

The cost of finding what you want. The economic cost of buying something is not simply the PRICE you pay. Finding what you want and ensuring that it is competitively priced can be expensive, be it the financial cost of physically getting to a marketplace or the OPPORTUNITY COST of time spent fact-finding. Search costs mean that people often take decisions without all the relevant INFORMATION, which can result in inefficiency


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Banker's Algo Daily Dose

Word of the day

Decrees(n)

Meaning:

A formal and authoritative order, especially one having the force of law

Synonyms: act, announcement, behest, bidding, charge

Antonyms: dismiss, fire, refuse, reject

Apti Question of The day

Question

Milk contains 5% water. What quality of pure milk should be added 10 litres of milk to reduce this 2%?

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