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Wednesday, 1 May 2024, 7:35 AM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary
D

Double Entry Concep

Double entry concept- in every transaction, there is a DEBIT and a corresponding CREDIT entry. DEBIT-the receiver and CREDIT- the giver.

Draft

the first, rough attempt at writing something

Durable Goods

Durable goods are goods that can be used repeatedly, example furniture.
E

Economic Costs

Economic costs are implicit costs plus explicit costs.

Economic Effects

Economic effects refer to the economic benefits and disadvantages between sectors of the economy as a result of inflation.

Economic Goods

Economic goods are goods that fetch a price.

Economic Growth

Economic growth refers to an expansion in the productive economy.

Economic Principle

The economic principle encompasses a wide variety of economic laws and theories that define or explain how an economy attempts to satisfy the unlimited demand in the marketplace with a finite supply of resources available to do so.

Economic Profit

Economic profit is the result of total revenue minus explicit costs minus implicit costs.

Economic Value Added (EVA)

In corporate finance, as part of fundamental analysis, economic value added is an estimate of a firm's economic profit, or the value created in excess of the required return of the company's shareholders. EVA is the net profit less the capital charge for raising the firm's capital.