Or a haircut), a service in which knowledge is imparted

(for example a medical consultation or tax advice) may be

Freely transferable from one consumer to another.

B) The fusion of two or more separate companies into one. In

Current usage merger is a special case of combination, where

Both the merging companies wish to join together and do so

On roughly equal terms, as distinct from a take-over, which

Occurs against the wishes of one company.

C) The total opportunity costs of moving goods or materials from

one place to another including loading/unloading costs and

Administrative costs, as well as transport costs.

D) Assets which are capable of generating income and which have

Themselves been produced. Capital is one of the four factors

Of production, and consists of the machines, plant and buildings

That make production possible, but excludes raw materials,

Land, and labour.

E) A factor of production. The term not only includes the numbers

Of people available for or engaged in the production of goods or

Services but also their physical and intellectual skills and effort.

F) A situation in which everyone in the labour force who is willing

To work at the market rate for his type of labour has a job,

Except for those who are switching from one job to another,

I.e. it excludes frictional unemployment. Under full employment