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<strong>MSGP</strong> – Missouri Student Grant Program. Original name for the Charles Gallagher Student Financial Assistance Program, which was discontinued after the 2006-07 academic year and replaced by Access Missouri on August 28, 2007.
market (D4)<br />A medium for exchanges between buyers and sellers. Some markets are physically located in one place; others connect buyers and sellers by telephone, fax and e-mail, especially in the case of financial markets. Markets for goods and services are termed 'product' markets; for labour and capital, 'factor markets'. There is a linkage between factor and product markets in that the demand for a factor is derived from the demand for its product. Dealers in a market seek to create an EQUILIBRIUM between demand and supply at a particular price. However, the existence of many market imperfections, e.g. MONOPOLY and ASYMMETRIC INFORMATION, distorts markets. A full set of markets must include markets for FUTURES and for risk taking. Markets have also been classified according to whether they are FIXPRICE Or FLEXPRICE.<br /> See also: black market; buyer's market; capital market; clearing market; common market; contingent market; controlled market; currency market; discount market; dual labour market; efficient market; Eurobond market; Eurodollar market; external labour market; factor market;
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<strong>Fiscal Year (FY)</strong> – An annual budgetary period. A fiscal year may be defined as a calendar year or other period, such as a State Fiscal Year (July 1-June 30) or Federal Fiscal Year (October 1 - September 30).
<strong>American College Testing (ACT, Inc.)</strong> – An independent not-for-profit organization that provides assessment, research, information, and program management services in the areas of educational testing and planning, career planning, and workforce development.
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