Tag: goods

Understanding the concept of marketing Marketing is a process through which companies communicate, promote, exchange and deliver offerings which have value for its target...

What is a 'Leakage' Leakage is a situation in which capital, or income, exits an economy or system rather than remaining within...

What is Last In, First Out (LIFO)? LIFO is an inventory accounting method in which the most recently acquired items are the first ones to...

DefinitionIn microeconomics, the law of demand states that, "conditional on all else being equal, as the price of a good increases, quantity demanded decreases...

What is the law of diminishing marginal utility The law of diminishing marginal utility is the principle that as a person consumes more of a...

What is lead time and why is it important In the business world, lead time is the amount of time that elapses between the start...

DefinitionThe law of supply is a fundamental principle of economic theory which states that, keeping other factors constant, an increase in price results in...

What is 'Large Trader' An investor or organization with trades that are equal to or in excess of certain amounts as specified...

DefinitionThe law of one price constitutes the basis of the theory of purchasing power parity, an assumption that in some circumstances it would cost...

DefinitionIn microeconomics, supply and demand is an economic model of price determination in a market. It postulates that, holding all else equal, in a...