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<strong>EFA</strong> – Estimated Financial Assistance (or Aid), a school' s estimation of the amount of financial aid for which the student is eligible during any given enrollment period. EFA may include loan, grant, or scholarship aid from federal, state, institutional, or other sources.
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normal profit (DO)<br />The minimum amount of PROFIT a firm must earn to remain in existence. The normal profit rate is the OPPORTUNITY COST to the firm of employing capital in that industry. Since this profit is the minimum suppl y price of ENTREPRENEURSHIP, it will be included along with other costs in the total costs of a firm. When measuring MONOPOLY POWER, normal profit is used as a benchmark: if a firm has profits in excess of normal profit, it is to some extent a monopolist
<strong>Clock hour</strong> – A time period consisting of one of the following: 50-60 minutes of class, lecture, or recitation; 50-60 minutes of faculty supervised laboratory, shop training, or internship; or 60 minutes of preparation for a correspondence course.
assisted area (R5)<br />A region or smaller area of a country eligible for grants and soPT LOANS under the regional policy of a national government or the EUROPEAN UNION. The criteria for assistance to a region include its rate of unemployment, the decay of its infrastructure and its participation in a larger plan to achieve interregional balance.
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