Thursday, 25 April 2024, 2:37 PM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary
B
Balance of PaymentsBalance of payments is a statistical account that records all transactions relating to the flow of goods, services and funds across international boundaries. |
Balance of Payments StabilityBalance of payments stability refers to the macroeconomic objective of having stability regarding exports and imports. |
Bank SupervisionBank supervision is the regulation of commercial and other banks. |
Basic PricesBasic prices are used when calculating GDP using the production or expenditure methods. Basic prices include indirect taxes on production such as payroll taxes, but exclude subsidies on production such as gold mining subsidies. |
Basic RelationshipAt the basic stage, neither party feels particularly committed to the relationship. The business is based on a simple exchange of money for goods and services supplied. There is no extra value received or perceived by the buyer, and the supplier is aware of this. |
Bill of Material (BOM)A listing of all the subassemblies, intermediates, parts, and raw materials that go into a parent assembly showing the quantity of each required to make an assembly. |
Black MarketBlack market is an illegal market where consumers buy up goods at the price ceiling and resell the goods at a higher price. |
Brainstormingan organised process
of a group offering their own ideas, usually aimed at solving a problem |
Break-Even PointBreak-even point exists when average costs (AC) equals average revenue (AR). |
Bridging Financefinance provided for a short period (two to three weeks) that an organisation might use when they are waiting for approval of longer-term finance. |