It is the total revenues minus explicit costs, including depreciation
Starts with
B
It is the manufacture of a number of identical articles either to meet a specific order or to meet a continuous demand
Contains
C
Branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole. This includes regional, national, and global economies.
Starts with
D
The gradual decrease in the economic value of the capital stock of a firm
Starts with
E
It is total revenues minus total costs—explicit plus implicit costs
Starts with
F
A cost that wills no change when the number of units produced increase
Contains
G
Use of predictive analytics, user behaviour analytics, or certain other advanced data analytics methods that extract value from data
Starts with
H
The people who make up the workforce of an organization, business sector, or economy
Starts with
I
They are the opportunity cost of resources already owned by the firm and used in business—for example, expanding a factory onto land already owned
Starts with
J
In this system products are made to satisfy a specific order
Contains
K
The amount of work an individual has to do
Starts with
L
The time from the moment the customer places an order (the moment the supplier learns of the requirement) to the moment it is ready for delivery.
Starts with
M
In this kind of production production, same type of product is manufactured to meet the continuous demand of the product
Contains
N
The production of merchandise for use or sale using labour and machines, tools, chemical and biological processing, or formulation.
Contains
O
The difference between the purchase price and the costs of bringing to market
Starts with
P
It deals with basic concepts of what to produce, when to produce, how much to produce
Contains
Q
The set of necessary tools, clothing, etc. for a particular purpose
Starts with
R
It is income from selling a firm’s product; defined as price times quantity sold
Starts with
S
The middleman between the manufacturer and retailer
Contains
T
Inventory system is based on the idea that keeping a large on-hand inventory of any kind is a form of waste
Contains
U
It is about selection of path or route through which raw materials pass in order to make it into a finished product.
Starts with
V
Cost that will be given by the amount of units produced
Contains
W
The basic material from which a product is made
Contains
X
Out-of-pocket costs for a firm—for example, payments for wages and salaries, rent, or materials
Contains
Y
Measure of the efficiency of production
Contains
Z
the use of technology to accommodate a product to particular needs of an individual
