diminishing marginal utility: the last item consumed
will be less satisfying than the one before.
direct-sales company: a company which sells its
products directly to retailers.
discount: percentage by which the seller reduces the full
price for the buyer.
discount brokers: discount stock brokers are to full-
service brokers as warehouse stores are to boutiques. You
don't expect much, if any, advice from your discount broker
on what to buy. She or he usually doesn't expect you to pay as
much as you would at full-service brokers. A discount
broker's main job is to carry out your requests to buy and sell.
discount rate: the interest rate charged by the
Federal Reserve on its loans to banks and other financial
institutions.
