Saturday, 20 April 2024, 12:16 PM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary
F
FAB MethodFAB stands for : Feature, Advantage and Benefit. Features refer to the physical characteristics of the product, such as the size, shape and colour. Advantages refer to the performance characteristics of the product, such as that a cell phone can receive emails. Benefits refer to the favourable result that the buyer obtains from using the product, such as the cell phone providing the user with the freedom of receiving emails at home and not needing to be in the office at all times. |
Facilitation RolesThe facilitation role takes a decision or plan into effect; execution - make it happen. |
Factor CostFactor cost is a measure expressed as an income or factor cost is used when using the income method to calculate GDP. These measures exclude indirect taxes such as VAT, but include subsidies on income such as housing subsidies. |
Factor MarketFactor market is a market where factors of production are traded, example the labour market. |
Factors of ProductionFactors of production refer to the resources needed to carry out production, example labour. |
FareThe price paid by the user of a transport service at the moment of use.
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Final GoodsFinal goods are bought by the end user or household, example shoes. |
Financial AccountFinancial account records all financial flows coming in and going out of a country. |
Financial IntermediaryFinancial intermediary examples include banks, the Johannesburg Securities Exchange (JSE) and insurance houses, which act as a link between household savings and firms’ investment (capital formation). |
Financial SectorFinancial sector refers to intermediaries through which funds are channelled from surplus units to deficit units, example banks. |