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Frictions |
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Frictions The "stickiness" involved in making transactions; the total process including time, effort, money, and tax effects of gathering information and making a transaction such as buying a stock or borrowing money. Frictions The processes involved in making a transaction. For example, if one wishes to buy a stock, one must first determine the price, conduct research, comply with regulations, and spend time doing each of those things. Frictions include both monetary and non-monetary costs. They are associated with the relative difficulty of conducting a transaction. See also: Friction costs, Frictional unemployment. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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