Friday, 26 April 2024, 4:07 PM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary
C
Cash Reserve RequirementCash reserve requirement refers to the minimum amount banks are required to hold back out of total deposits. |
Ceteris ParibusCeteris paribus is a Latin term which means “all other things being equal” |
Change in DemandChange in demand refers to a change in every quantity demand at every price, i.e. a shift of the demand curve. |
Change in Quantity DemandedChange in quantity demanded refers to a change in the number of items demanded because of a change in price. |
ChoiceChoice exists in every decision made in the economy and refers to accepting one option over another. |
Circular FlowCircular flow refers to the flow of money between households and firms in one direction and the flow of goods and services in the opposite direction. |
Citethe mention of the
author’s name from whose work you obtained the idea as well as the date of the publication |
Closing the SaleThe art of closing a sale has many salespeople believing that if they master the art of closing a sale, they will be known as the best salesperson. Closing, however, is not one technique that is used at the end of the sale. The process of closing starts the moment the salesperson meets the customer. Technically, ‘closing’ a sale takes place when products or services are delivered to the customer’s satisfaction and payments are received. Van Heerden and Drotsky (2018) define closing as ‘taking the order’. |
CollusionCollusion exists when competing suppliers meet to fix prices or divide market share. |
CommunicationCommunication is any form of exhanging information by speaking and writing or any other methods. It is sharing information. |