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Market Production
In a general sense, market production refers to the production of a product or service which is intended for sale at a money-price in a market. The product or service in principle has to be tradable for money. However, in national accounts the term has a more specific meaning, because many producing organizations exist in the economy which either do not produce for any distinct market, or which partly produce for the market, and partly don't. These are ''non-commercial'' or ''partly commercial'' organizations, which can be mainly self-funded, but not-for-profit, or mainly funded by sources other than their own revenue. Statisticians therefore have to define "market production" much more exactly, in order to be able to separate out market production in a consistent way, and distinguish it from non-market production. If they would be unable to do so, they would be unable to measure market production in a meaningful and consistent way. In the United Nations System of National Ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product (business)
In marketing, a product is an object, or system, or service made available for consumer use as of the consumer demand; it is anything that can be offered to a domestic or an international market to satisfy the desire or need of a customer. In retailing, products are often referred to as merchandise, and in manufacturing, products are bought as raw materials and then sold as finished goods. A service is also regarded as a type of product. In project management, products are the formal definition of the project deliverables that make up or contribute to delivering the objectives of the project. A related concept is that of a sub-product, a secondary but useful result of a production process. Dangerous products, particularly physical ones, that cause injuries to consumers or bystanders may be subject to product liability. Product classification A product can be classified as tangible or intangible. A tangible product is an actual physical object that can be perceived by t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply And Demand
In microeconomics, supply and demand is an economic model of price determination in a market. It postulates that, holding all else equal, the unit price for a particular good or other traded item in a perfectly competitive market, will vary until it settles at the market-clearing price, where the quantity demanded equals the quantity supplied such that an economic equilibrium is achieved for price and quantity transacted. The concept of supply and demand forms the theoretical basis of modern economics. In situations where a firm has market power, its decision on how much output to bring to market influences the market price, in violation of perfect competition. There, a more complicated model should be used; for example, an oligopoly or differentiated-product model. Likewise, where a buyer has market power, models such as monopsony will be more accurate. In macroeconomics, as well, the aggregate demand-aggregate supply model has been used to depict how the quantity of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market (economics)
In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in Exchange (economics), exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the value of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society. Markets allow any tradeable item to be evaluated and priced. A market emergence, emerges more or less spontaneous order, spontaneously or may be constructed deliberately by human interaction in order to enable the exchange of rights (cf. ownership) of services and goods. Markets generally supplant Gift economy, gift economies and are often held in place through rules and customs, such as a booth fee, competitive pricing, and source of goods for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trading
Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market (economics), market. Traders generally negotiate through a medium of credit or exchange, such as money. Though some economists characterize barter (i.e. trading things without the use of money) as an early form of trade, History of money#Emergence of money, money was invented before written history began. Consequently, any story of how money first developed is mostly based on conjecture and logical inference. Letters of credit (finance), credit, paper money, and digital currency, non-physical money have greatly simplified and promoted trade as buying can be separated from selling, or Earnings, earning. Trade between two traders is called bilateral trade, while trade involving more than two traders is called Multilateral treaty, multilateral trade. In one modern view, trade exists due to spe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subsistence Production
A subsistence economy is an economy directed to basic subsistence (the provision of food, clothing and shelter) rather than to the market. Definition "Subsistence" is understood as supporting oneself and family at a minimum level. Basic subsistence is the provision of food, clothing, shelter. A subsistence economy is an economy directed to one's subsistence rather than to the market. Often, the subsistence economy is moneyless and relies on natural resources to provide for basic needs through hunting, gathering, and agriculture. In a subsistence economy, economic surplus is minimal and only used to trade for basic goods, and there is no industrialization. In hunting and gathering societies, resources are often, if not typically underused. The subsistence system is maintained through sharing, feasting, ritual observance and associated norms. Harvesting is an important indicator of social capital. Subsistence embodies cultural perspectives of relationships to places, people an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Donation
A donation is a gift for Charity (practice), charity, humanitarian aid, or to benefit a cause. A donation may take various forms, including money, alms, Service (economics), services, or goods such as clothing, toys, food, or vehicles. A donation may satisfy medical needs such as blood or Organ transplant, organs for transplant. Charitable donations of goods or services are also called ''gifts in kind''. Donating statistics In the United States, in 2007, the Bureau of Labor Statistics found that American households in the lowest fifth in terms of wealth, gave on average a higher percentage of their incomes to charitable organizations than those households in the highest fifth. Charity Navigator writes that, according to Giving USA, Americans gave $298 billion in 2011 (about 2% of GDP). The majority of donations were from individuals (73%), then from bequests (about 12%), foundations (2%) and less than 1% from corporations. The largest sector to receive donations was Religio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subscription
The subscription business model is a business model in which a customer must pay a recurring price at regular intervals for access to a product or service. The model was pioneered by publishers of books and periodicals in the 17th century. It is particularly common now for digital products, which lend themselves more naturally toward a subscription model. Subscriptions can be a more convenient, hassle-free transaction for consumers. However, due to inertia among some consumers, they may inadvertently pay for subscriptions that they no longer value because they do not realize that they are subscribed. Subscriptions Rather than selling products individually, a subscription offers periodic (daily, weekly, bi-weekly, monthly, semi-annual, yearly/annual, or seasonal) use or access to a product or service, or, in the case of performance-oriented organizations such as opera companies, tickets to the entire run of some set number of (e.g., five to fifteen) scheduled performances for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subsidy
A subsidy, subvention or government incentive is a type of government expenditure for individuals and households, as well as businesses with the aim of stabilizing the economy. It ensures that individuals and households are viable by having access to essential goods and services while giving businesses the opportunity to stay afloat and/or competitive. Subsidies not only promote long term economic stability but also help governments to respond to economic shocks during a recession or in response to unforeseen shocks, such as the COVID-19 pandemic. Subsidies take various forms— such as direct government expenditures, tax incentives, soft loans, price support, and government provision of goods and services. For instance, the government may distribute direct payment subsidies to individuals and households during an economic downturn in order to help its citizens pay their bills and to stimulate economic activity. Here, subsidies act as an effective financial aid issued when the ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fine (penalty)
A fine or mulct (the latter synonym typically used in Civil law (common law), civil law) is a penalty of money that a court of law or other authority decides has to be paid as punishment for a crime or other Offense (law), offense. The amount of a fine can be determined case by case, but it is often announced in advance. The most usual use of the term is for financial punishments for the commission of crimes, especially minor crimes, or as the settlement (law), settlement of a Claim (legal), claim. One typical example of a fine is money paid for violations of traffic laws. In English law, English common law, relatively Standard scale, small fines are used either in place of or alongside community service orders for low-level criminal offences. More considerable fines are also given independently or alongside shorter prison sentences when the judge or magistrate considers a large amount of retribution is necessary, but there is unlikely to be a significant danger to the public. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sales Revenue
In accounting, revenue is the total amount of income generated by the sale of goods and services related to the primary operations of a business. Commercial revenue may also be referred to as sales or as turnover. Some companies receive revenue from interest, royalties, or other fees. This definition is based on IAS 18. "Revenue" may refer to income in general, or it may refer to the amount, in a monetary unit, earned during a period of time, as in "Last year, company X had revenue of $42 million". Profits or net income generally imply total revenue minus total expenses in a given period. In accounting, revenue is a subsection of the equity section of the balance statement, since it increases equity. It is often referred to as the "top line" due to its position at the very top of the income statement. This is to be contrasted with the "bottom line" which denotes net income (gross revenues minus total expenses). In general usage, revenue is the total amount of income by the sal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cost
Cost is the value of money that has been used up to produce something or deliver a service, and hence is not available for use anymore. In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost. In this case, money is the input that is gone in order to acquire the thing. This acquisition cost may be the sum of the cost of production as incurred by the original producer, and further costs of transaction as incurred by the acquirer over and above the price paid to the producer. Usually, the price also includes a mark-up for profit over the cost of production. More generalized in the field of economics Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interac ..., cost is a metric that is totaling up as a result of a process ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Administered Prices
Administered prices are prices of goods set by the internal pricing structures of firms that take into account cost rather than through the market forces of supply and demand and predicted by classical economics. They were first described by institutional economists Gardiner Means and Adolf A. Berle in their 1932 book '' The Modern Corporation and Private Property''. As Means argued in 1972, "Basically, the administered-price thesis holds that a large body of industrial prices do not behave in the fashion that classical theory would lead one to expect. It was first developed in 1934–35 to apply to the cyclical behavior of industrial prices. It specifically held that in business recessions administered prices showed a tendency not to fall as much as market prices while the recession fall in demand worked itself out primarily through a fall in sales, production, and employment." Empirical data Since Means and Berle's pioneering work in the 1930s, numerous empirical surveys have b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
