SECONDARY MARKET Definition

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SECONDARY MARKET is buyers and sellers willing to trade securities after their initial issuance.

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ENCRYPTION is the scrambling of data so that it is meaningless to anyone but the intended recipient, who has the key to unscramble the data to its original form.

MARGINAL COST is a calculation showing the change in total cost as a result of a change in volume, e.g. if one more item of output increases the total cost by $25, the marginal cost is $25. It is usually useful to determine marginal cost because it can aid in determining if the rate of production should be altered.

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