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COB – Close of Business. COC – Cost of Credit [2] or Cost of Capital [3] COD – Cost of Debt [4] or Cash on Delivery. COE – Center of Excellence or Cost of Equity [5] COGS – Cost of Goods Sold. Corp. – Corporation. COO – Chief Operating Officer. CPA – Certified Public Accountant. CPI – Consumer Price Index.
Markup (business) Markup (or price spread) is the difference between the selling price of a good or service and its cost. It is often expressed as a percentage over the cost. A markup is added into the total cost incurred by the producer of a good or service in order to cover the costs of doing business and create a profit. The total cost ...
Graph of total, average, and marginal product. In economics, a production function gives the technological relation between quantities of physical inputs and quantities of output of goods. The production function is one of the key concepts of mainstream neoclassical theories, used to define marginal product and to distinguish allocative ...
t. e. Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of the secondary sector of the economy.
Business economics is an integral part of traditional economics and is an extension of economic concepts to the real business situations. It is an applied science in the sense of a tool of managerial decision-making and forward planning by management. In other words, business economics is concerned with the application of economic theory to ...
The factory system is a method of manufacturing using machinery and division of labor. [1] Because of the high capital cost of machinery and factory buildings, factories are typically privately owned by wealthy individuals or corporations who employ the operative labor. Use of machinery with the division of labor reduced the required skill ...
Theory of the firm. The theory of the firm consists of a number of economic theories that explain and predict the nature of the firm, company, or corporation, including its existence, behaviour, structure, and relationship to the market. [1] Firms are key drivers in economics, providing goods and services in return for monetary payments and ...
t. e. A lockout is a work stoppage or denial of employment initiated by the management of a company during a labor dispute. [1] In contrast to a strike, in which employees refuse to work, a lockout is initiated by employers or industry owners. Lockouts are usually implemented by simply refusing to admit employees onto company premises, and may ...