OPERATING EXPENSES Definition

OPERATING EXPENSES is all selling and general & administrative expenses. Includes depreciation, but not interest expense.

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BEST EXECUTION is NASD Rule 2320 The obligation of Market Makers, broker/dealers, and others to execute customer orders at the best price available at the time the trade is entered.

ECONOMIES OF SCALE is based upon the theory that the more you produce of a good, the less that it costs for each additional unit, i.e., efficiency. Specifically, it is the reduction of the costs of production of goods due to increasing the size of the producing entity and the share of the total market for the good/product.

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