|Gross Domestic Product|
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Definition of Gross Domestic Product
Gross Domestic Product
Total output of final goods and services produced within a country during a year.
The market value of goods and services produced over time including the
See gross domestic product.
A U.S. corporation that receives a tax incentive for
Part of a nation's internal market representing the mechanisms for issuing and trading
Interest earned before taxes are deducted.
Measures and economy's total income. It is equal to GDP plus the income
gross profit divided by sales, which is equal to each sales dollar left over after paying
The fraction of the gross proceeds of an underwritten securities offering that is paid as
The line of required returns for investment projects as a function of beta
The time it takes to bring new and/or improved products to market.
A type of mortgage-pipeline risk that occurs when a lender has an unusual loan in production or
A method of nonrecourse asset-based financing in which a specified
An agreement by the loan purchaser to allow the monthly loan quota to be
The profit a company makes before expenses and taxes are taken away.
A depreciation method that relates a machine’s depreciation to the number of units it makes each
The difference between the price at which goods or services are sold and the cost of sales.
A general term referring to period costs, such as selling, administration and financial expenses.
The cost of goods or services produced.
A business’s investment in technology, people and materials in order to make, buy and sell products or services to customers.
See sales mix.
A general term referring to indirect costs.
The result of subtracting cost of goods sold from sales. Synonymous with gross margin.
gross margin, or gross profit
This first-line measure of profit
This is a key factor in the profit model of a business. product
an incidental output of a joint process; it is salable,
cost of production report
a process costing document that
economic production run (EPR)
an estimate of the number
equivalent units of production (EUP)
an approximation of the number of whole units of output that could have been
grade (of product or service)
the addition or removal of product
the total units produced during a period
an assessment about the number of components in a product
product contribution margin
the difference between selling price and variable cost of goods sold
a cost associated with making or acquiring inventory
the number of total units that could be
product- (or process-) level cost
a cost that is caused by the development, production, or acquisition of specific products or services
product life cycle
a model depicting the stages through
product line margin
see segment margin
the number of different types of products
A product that is an ancillary part of the primary production process, having
Revenues less the cost of goods sold.
The total sales recorded prior to sales discounts and returns.
A product that has the highest sales value from among a group of products
The total of all costs assigned to a product, typically including direct
Production yield variance
The difference between the actual and budgeted proportions
Aggregate Production Function
An equation determining aggregate output as a function of aggregate inputs such as labor and capital.
Factor of Production
A resource used to produce a good or service. The main macroeconomic factors of production are capital and labor.
Gross National Product
Total output of final goods and services produced by a country's citizens during a year.
National Income and Product Accounts
The national accounting system that records economic activity such as GDP and related measures.
Net Domestic Product
GDP minus depreciation.
Net National Product
GNP minus depreciation.
Output per unit of input, usually measured as output per hour of labor.
The amount of earnings due to an employee prior to tax and other deductions.
Revenue less cost of goods sold.
Gross Profit Margin
gross profit divided by revenue.
Sales Revenue Revenue recognized from the sales of products as opposed to the provision of
A material created incidental to a production process, which can be
The technique of stripping all non-value-added activities from
Process flow production
A production configuration in which products are continually
Any item intended for sale.
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