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Financial Terms | |
Gross Domestic Product |
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Definition of Gross Domestic ProductGross Domestic ProductTotal output of final goods and services produced within a country during a year.
Related Terms:Gross domestic product (GDP)The market value of goods and services produced over time including the GDPSee gross domestic product. Aggregate Production FunctionAn equation determining aggregate output as a function of aggregate inputs such as labor and capital. by-productan incidental output of a joint process; it is salable, By-productA product that is an ancillary part of the primary production process, having By-productA material created incidental to a production process, which can be cost of production reporta process costing document that ![]() Domestic International Sales Corporation (DISC)A U.S. corporation that receives a tax incentive for Domestic marketPart of a nation's internal market representing the mechanisms for issuing and trading 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 Factor of ProductionA resource used to produce a good or service. The main macroeconomic factors of production are capital and labor. grade (of product or service)the addition or removal of product Gross interestInterest earned before taxes are deducted. Gross marginRevenues less the cost of goods sold. gross margin, or gross profitThis first-line measure of profit ![]() Gross National ProductTotal output of final goods and services produced by a country's citizens during a year. Gross national product (GNP)Measures and economy's total income. It is equal to GDP plus the income Gross PayThe amount of earnings due to an employee prior to tax and other deductions. GROSS PROFITThe profit a company makes before expenses and taxes are taken away. Gross profitThe difference between the price at which goods or services are sold and the cost of sales. Gross profitThe result of subtracting cost of goods sold from sales. Synonymous with gross margin. Gross ProfitRevenue less cost of goods sold. Gross profit margingross profit divided by sales, which is equal to each sales dollar left over after paying Gross Profit Margingross profit divided by revenue. Gross salesThe total sales recorded prior to sales discounts and returns. Gross spreadThe fraction of the gross proceeds of an underwritten securities offering that is paid as ![]() Investment product line (IPML)The line of required returns for investment projects as a function of beta Joint productA product that has the highest sales value from among a group of products Lean productionThe technique of stripping all non-value-added activities from National Income and Product AccountsThe national accounting system that records economic activity such as GDP and related measures. Net Domestic ProductGDP minus depreciation. Net National ProductGNP minus depreciation. Non-production overheadA general term referring to period costs, such as selling, administration and financial expenses. Process flow productionA production configuration in which products are continually process productivitythe total units produced during a period ProductAny item intended for sale. product complexityan assessment about the number of components in a product product contribution marginthe difference between selling price and variable cost of goods sold Product costThe cost of goods or services produced. product costThis is a key factor in the profit model of a business. product product costa cost associated with making or acquiring inventory Product costThe total of all costs assigned to a product, typically including direct Product cycleThe time it takes to bring new and/or improved products to market. product life cyclea model depicting the stages through product line marginsee segment margin Product marketA business’s investment in technology, people and materials in order to make, buy and sell products or services to customers. product- (or process-) level costa cost that is caused by the development, production, or acquisition of specific products or services Product riskA type of mortgage-pipeline risk that occurs when a lender has an unusual loan in production or Product/service mixSee sales mix. product varietythe number of different types of products Production-flow commitmentAn agreement by the loan purchaser to allow the monthly loan quota to be Production overheadA general term referring to indirect costs. Production payment financingA method of nonrecourse asset-based financing in which a specified Production yield varianceThe difference between the actual and budgeted proportions productive capacitythe number of total units that could be ProductivityOutput per unit of input, usually measured as output per hour of labor. Sales Revenue Revenue recognized from the sales of products as opposed to the provision ofservices. UNITS OF PRODUCTIONA depreciation method that relates a machine’s depreciation to the number of units it makes each Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit. |