Frozen Account Definition.

A frozen account is a financial account that has been temporarily suspended or restricted by the account holder’s bank or credit card issuer. This may happen if the account holder has failed to make a required payment, has been involved in fraudulent activity, or for other reasons. A frozen account may also be called a … Read more

Marginal Rate of Substitution (MRS).

The marginal rate of substitution (MRS) is the rate at which a consumer is willing to trade one good for another. It is usually graphed as a line on a graph, with one good on the x-axis and the other good on the y-axis. The MRS is the slope of this line. The MRS can … Read more

TCO: Asset Costs Over Time.

. Total Cost of Ownership (TCO): The Cost of an Asset Over Its Lifetime. What are three costs of ownership? The three costs of ownership are the purchase price, the costs of maintaining the property, and the costs of selling the property. The purchase price is the amount of money that you pay for the … Read more