1. Dealing with outward things or exhibiting facts uncolored by feelings or opinions; not subjective. 2. External to the mind; actually existing; real. 3. Something sought or aimed at; an objective point.
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!. A social, legal, or moral requirement, such as a duty, contract, or promise, that compels one to follow or avoid a particular course of action. 2. The constraining power of a promise, contract, law, or sense of duty: I felt no obligation to offer my advice. 3. Law A document in which a person binds himself or herself to undertake or refrain from doing a particular act. 4. A debt instrument, such as a loan, mortgage, or bond. 5. The state, fact, or feeling of being indebted to another for a special service or favor received.
The benefit that is sacrificed by choosing one course of action rather than the next best alternative, e.g. the opportunity cost sacrificed in building a road might be the use of the land for farming.
Best or most favorable, esp. under a particular set of circumstances.
1. The most favorable conditions. 2. The best or most favorable situation. 3. The best possible compromise between two opposing positions, tendencies, etc.
A type of derivative security that gives the buyer the right, but not the obligation, to buy or sell an asset at a set price on or before a given date.