Business / Agriculture / Basic Formula Price (BFP): Calculated monthly by USDA, the BFP is the base price for all milk regulated by federal milk marketing orders. Currently, the BFP is based on the preceding month’s average price of Grade B milk paid by processors in Minnesota and Wisconsin, adjusted by current-month changes in the value of certain manufactured dairy products.
Basic Adjective Synonyms: fundamental, essential, key, elementary, underlying, prime, primary, root, principal, central, focal, vital
Formula Adjective Synonyms: recipe, rubric, formulary, rule(s), prescription, directions, instructions, blueprint, method, technique, means, way, pattern, procedure, modus operandi, MO
Price Verb Synonyms: sacrifice, toll, penalty, cost, consequence
Price Noun Synonyms: charge, cost, expense, expenditure, outlay, payment, amount, figure, fee, quotation, appraisal, value, valuation, evaluation, worth
Business / Agriculture / Price Index: Current price expressed as a proportion to the same price in an earlier time period, commonly called the base period. Monthly price indexes computed by the National Agricultural Statistics Service are MORE
Business / Taxes / Price Improvement: Price improvement occurs when you pay less or receive more on a securities transaction than the bid and offer prices being currently quoted. In other words, the price you pay to buy is lower than the MORE