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Definition of Product cycle
The time it takes to bring new and/or improved products to market.
a model depicting the stages through
An equation determining aggregate output as a function of aggregate inputs such as labor and capital.
The annual period over which budgets are prepared.
Repetitive cycles of economic expansion and recession.
Fluctuations of GDP around its long-run trend, consisting of recession, trough, expansion, and peak.
an incidental output of a joint process; it is salable,
A product that is an ancillary part of the primary production process, having
A material created incidental to a production process, which can be
The length of time between a firm's purchase of inventory and the receipt of cash
Period between firm’s payment for materials
In general, the time between cash disbursement and cash collection. In net working capital
The length of time between a purchase of materials and collection of accounts receivable generated by the sale of the products made from the materials.
a process costing document that
The frequent, scheduled counting of a subset of all inventories,
the time between the placement of an order to
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
An expiration cycle relates to the dates on which options on a particular security expire. A
Factor of Production
A 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 Domestic Product
Total output of final goods and services produced within a country during a year.
Gross domestic product (GDP)
The market value of goods and services produced over time including the
Gross National Product
Total 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
Investment product line (IPML)
The line of required returns for investment projects as a function of beta
A product that has the highest sales value from among a group of products
The technique of stripping all non-value-added activities from
life cycle costing
the accumulation of costs for activities that
An approach to costing that estimates and accumulates the costs of a product/service over
manufacturing cycle efficiency (MCE)
a ratio resulting from dividing the actual production time by total lead time;
The period between the 2 latest highs or lows of the S&P 500, showing net performance of a
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.
A general term referring to period costs, such as selling, administration and financial expenses.
The average time intervening between the acquisition of materials or services and the final
The period of service for which a company compensates its employees.
Political Business Cycle
A business cycle caused by policies undertaken to help a government be re-elected.
Process flow production
A production configuration in which products are continually
the total units produced during a period
Any item intended for sale.
an assessment about the number of components in a product
product contribution margin
the difference between selling price and variable cost of goods sold
The cost of goods or services produced.
This is a key factor in the profit model of a business. product
a cost associated with making or acquiring inventory
The total of all costs assigned to a product, typically including direct
product line margin
see segment margin
A business’s investment in technology, people and materials in order to make, buy and sell products or services to customers.
product- (or process-) level cost
a cost that is caused by the development, production, or acquisition of specific products or services
A type of mortgage-pipeline risk that occurs when a lender has an unusual loan in production or
See sales mix.
the number of different types of products
An agreement by the loan purchaser to allow the monthly loan quota to be
A general term referring to indirect costs.
Production payment financing
A method of nonrecourse asset-based financing in which a specified
Production yield variance
The difference between the actual and budgeted proportions
the number of total units that could be
Output per unit of input, usually measured as output per hour of labor.
Real Business Cycle Theory
Belief that business cycles arise from real shocks to the economy, such as technology advances and natural resource discoveries, and have little to do with monetary policy.
The frequency with which an asset is replaced by an equivalent asset.
Sales Revenue Revenue recognized from the sales of products as opposed to the provision of
UNITS OF PRODUCTION
A depreciation method that relates a machine’s depreciation to the number of units it makes each
a mission of increasing market share, even at
a mission that attempts to maximize shortterm
A merger involving two or more firms in the same industry that are both at the same
A method of costing that involves making continual, incremental improvements to the
The risk that the value of a security (or a portfolio) will decline in the future. Or, a type of
A merger in which one firm acquires another firm that is in the same industry but at another
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