Plumbing Arithmetic Flashcards
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considered as fixed cost
interest, taxes, amortization, insurance
reduction in the level of national income and output usually accompanied by the fall in the general price level
Deflation
market whereby there is only one buyer of an item for which there are no good substitute
Monopsony
market situation where there is only one seller with many buyer
Monopoly
a condition where only few individuals produce a certain product and that any action of one will lead to almost the same action of the others.
Oligopoly
a market which there are few buyers but many sellers
Oligopsony
market situation where there are few sellers and few buyers
bilateral oligopoly
market situation where there is one seller and one buyer
bilateral monopoly
Market situation where there is one seller and one buyer
bilateral monopoly
situation in which two suppliers dominate the market for a commodity service
duopoly
market situation where there are only two buyers and many sellers
DUOPSONY
occurs in a situation where a commodity or service is supplied by a
number of vendors entering the market
PERFECT COMPETITION
direct labor cost incurred in the factory and direct material cost; the sum of
these two direct cost
PRIME COST
artificial expense that spread the purchase price of an asset or another
property over a number of year; decrease in the value of a physical property due to passage
of time
DERECIATION
present worth of all depreciation over the economic life of the
item
DEPRECIATION RECOVERY
estimated value at the end of useful life
SALVAGE VALUE
amount which a willing buyer will pay to a willing seller for a property where
each has equal advantage
MARKET VALUE
gross profit, sales less cost of goods sold, as a percentage of a sale
GROSS MARGIN
worth of the property equals to the original cost less depreciation
BOOK VALUE
grand total of the assets and operational capability of corporation
AUTHORIZED CAPITAL
liquid assets such as cash and other assets that can be converted quickly
into cash
CURRENT ASSETS
amount by which revenue from sales exceeds costs in a business
PROFIT MARGIN
those funds that are required to make the enterprise or project going
WORKING CAPITAL