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scarce resource |
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Definition of scarce resourcescarce resourcea resource that is essential to production
Related Terms:input-output coefficienta number (prefaced as a multiplier Limiting factorThe production resource that, as a result of scarce resources, limits the production of goods enterprise resource planning (ERP) systema packaged software program that allows a company to Enterprise resource planning systemA computer system used to manage all company Manufacturing resource planningAn integrated, computerized system for planning manufacturing resource planning (MRP II)a fully integrated materials requirement planning system that involves Manufacturing resource planning (MRP II)An expansion of the material requirements planning concept, with additional computer-based capabilities in the areas of strategic resource managementorganizational planning for the deployment of resources to create value for customers and shareholders; key varibles in the process include the management of information and the management of change in response to threats and opportunities ADF (annuity discount factor)the present value of a finite stream of cash flows for every beginning $1 of cash flow. Amortization factorThe pool factor implied by the scheduled amortization assuming no prepayemts. Annuity factorPresent value of $1 paid for each of t periods. annuity factorPresent value of an annuity of $1 per period. Beta coefficientA measurement of the extent to which the returns on a given stock move with stock market. coefficient of correlationa measure of dispersion that indicates the degree of relative association existing between two variables Coefficient of determinationA measure of the goodness of fit of the relationship between the dependent and coefficient of determinationa measure of dispersion that coefficient of variationa measure of risk used when the standard deviations for multiple projects are approximately Conversion factorsRules set by the Chicago Board of Trade for determining the invoice price of each Correlation coefficientA standardized statistical measure of the dependence of two random variables, Correlation CoefficientA measure of the tendency of two variables to change values Correlation coefficientA statistic in which the covariance is scaled to a critical success factors (CSF)any item (such as quality, customer Discount factorPresent value of $1 received at a stated future date. discount factorPresent value of a $1 future payment. FactorA financial institution that buys a firm's accounts receivables and collects the debt. FactorAn agent who buys and sells goods on behalf of others for a commission. Factor analysisA statistical procedure that seeks to explain a certain phenomenon, such as the return on a Factor modelA way of decomposing the factors that influence a security's rate of return into common and Factor of ProductionA resource used to produce a good or service. The main macroeconomic factors of production are capital and labor. Factor portfolioA well-diversified portfolio constructed to have a beta of 1.0 on one factor and a beta of FactoringSale of a firm's accounts receivable to a financial institution known as a factor. FactoringThe sale of accounts receivable to a third party, with the third party bearing FactoringThe discounting, or sale at a discount, of receivables on a nonrecourse, notification FactoringType of financial service whereby a firm sells or transfers title to its accounts receivable to a factoring company, which then acts as principal, not as agent. Factory overheadAll the costs incurred during the manufacturing process, minus the Full-Employment OutputThe level of output produced by the economy when operating at the natural rate of unemployment. Information Coefficient (IC)The correlation between predicted and actual stock returns, sometimes used to Input-output tablesTables that indicate how much each industry requires of the production of each other Interest FactorNumbers found in compound interest and annuity tables. Usually called the FVIF or PVIF. Maturity factoringfactoring arrangement that provides collection and insurance of accounts receivable. Multifactor CAPMA version of the capital asset pricing model derived by Merton that includes extramarket National OutputGDP. Net benefit to leverage factorA linear approximation of a factor, T*, that enables one to operationalize the Old-line factoringfactoring arrangement that provides collection, insurance, and finance for accounts receivable. One-factor APTA special case of the arbitrage pricing theory that is derived from the one-factor model by Output GapThe difference between full employment output and current output. Pool factorThe outstanding principal balance divided by the original principal balance with the result Potential Output or Potential GDPoutput produced when the economy is operating at its natural rate of unemployment. PPF (periodic perpetuity factor)a generalization formula invented by Abrams that is the present value of regular but noncontiguous cash flows that have constant growth to perpetuity. Present value factorfactor used to calculate an estimate of the present value of an amount to be received in Reported factorThe pool factor as reported by the bond buyer for a given amortization period. Scrap factorAn anticipated loss percentage included in the bill of material and Shrinkage factorThe expected loss of some proportion of an item during the Single factor modelA model of security returns that acknowledges only one common factor. Two-factor modelBlack's zero-beta version of the capital asset pricing model.
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