Friday, 3 May 2024, 3:40 AM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary
I
Inelastic DemandInelastic demand exists when the change in quantity is smaller than the change in price. |
Inferior GoodsInferior goods are goods that decrease in demand with an increase in income. |
InflationInflation is defined as a continuous and considerable rise in the general price level over a period of time. |
Inflation TargetingInflation targeting refers to the effort by the reserve bank to keep inflation between certain upper and lower limits. |
Informal SectorInformal sector is sometimes called the shadow, underground or hidden economy, and refers to people who are employed in economic activities that are unregistered, e.g. money lenders and petty traders. |
InjectionInjection refers to money that enters the circular flow. |
Innovative ProductsProduct innovation is the creation and subsequent introduction of a good or service that is either new, or an improved version of previous goods or services. |
Input VATInput VAT – A vendor can claim back this VAT as it is paid on supply bought for the business. It is an asset. |
Integrated RelationshipIn an integrated relationship the two parties come together to operate as a single entity, while maintaining their separate identities, to create value over and above what either could achieve individually. |
Intellectual Skillsthe way you think about things, approach them and process the information.
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