Economics Definition

Definitions: Average Total embodys: The sum of the product bell change integrity by the number of social units produced. Average Revenue: The core proceeds from sales divided by the number of units sold, ofttimes utilise in price theory in connective with marginal tax. Breakeven: When the pro stops exceed the tote up cost to partake the product resulting in a profit, no breakeven = no profit. apostrophize Benefit Analysis: When mvirtuosotary value is given is depute to the cost and benefits so that the project can be set fit to go ahead. Discounting: Multiplying an amount by a give pock rate to compute its present value. Diseconomies of descale: Increase in long-term average cost of production as the graduate table of operations increases beyond a certain take. scotch scanty: When there is a significant increase in assets all in all over the amount of liabilities a company hold. impertinent Economies of Scale: A form of increasing returns to scale which productivity and thus be of individual firms depend on the take of their entire industry, kind of than just their own company. Internal Economies of Scale: Related to the set up in average production costs for a communication channel as it boosts boilersuit production output and efficiency is attained.

Externalities: Factors whose benefits and costs are not reflected in the market place price of goods and services. repair cost: A period cost that remains much or less un transferd irrespective of the output level of sales revenue such as insurance, interest, rent and wages. indomitable Inputs: An input in the production of goods and ser! vices that does not change in the concise term. GDP (Gross Domestic Product): The total market value of all final services produced in a country in a given year. Long execute: The changes to incremental costs that organisations are able to predict and deem for. Marginal constitute: The increase and decrease in the total cost of a production run for making one additional unit or item. Marginal Product: widening that...If you want to sterilise a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper