Tag: production
Okun Gap
DefinitionIn economics, Okun's law is an empirically observed relationship between unemployment and losses in a country's production. The "gap version" states that for every...
Rally
What is a 'Rally' A rally is a period of sustained increases in the prices of stocks, bonds or indexes. This type...
Oil Initially In Place (OIIP)
What is 'Oil Initially In Place - OIIP' The amount of crude first estimated to be in a reservoir. Oil initially in...
Unconventional Cash Flow
What is an ‘Unconventional Cash Flow'
A series of inward and outward cash flows over time in which there is more than one change in...
Variable Cost Ratio
What is the 'Variable Cost Ratio' The variable cost ratio is an expression of a company's variable production costs as a percentage...
Law Of Supply
DefinitionThe law of supply is a fundamental principle of economic theory which states that, keeping other factors constant, an increase in price results in...
Law Of Diminishing Marginal Utility
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...
Learning Curve
What is the 'Learning Curve' A learning curve is a concept that graphically depicts the relationship between cost and output over a...
Land Flip
What is 'Land Flip' A fraudulent practice in the real estate business of selling undeveloped land at highly inflated prices. A land...
Economic Efficiency
DefinitionEconomic efficiency is, roughly speaking, a situation in which nothing can be improved without something else being hurt. Depending on the context, it is...