Rapid TransitRail or motorbus transit service operating completely separate from all modes of transportation on an exclusive right-of-way. |
RateThe price of transportation services paid by the consumer. They are the negotiated monetary costs of moving a passenger or a unit of freight between a specific origin and destination.
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RationingRationing is limiting the quantity bought by consumers. |
Raw MaterialsThe items that are purchased or the materials extracted which are then transformed into components or products using a manufacturing process |
Real GDPReal GDP is GDP expressed at the prices of a given base year. Real GDP = nominal GDP – inflation. |
RecruitmentRefers to the sourcing and screening of suitable candidates to fill a position from within or outside the organisation. |
Reflectionthinking back on how you have thought about something. |
RefutingRefuting – offering ideas which are opposed to another person’s statement. |
Relationship HierarchyRelationship hierarchy is the levels of a relationship, it is a system in which members of the relatioship is ranked according to relative status or authority. |
Relationship StagesKAM is concerned with managing the relationship with the customer, with the goal being business development, and making profit for the company. Hence, it is important to understand these relationships, and to understand the hierarchy of different relationship levels. Relationship stages refere to the level of the relationship; Basic Cooperative, interdependent or integrated. |
Relative PricesRelative prices are prices expressed in term of another, example the price of coffee is double the price of tea. |
Relevant CostsRelevant costs – costs appropriate to aiding the decision making process. |
RentRent is payment for natural resources, example land. |
Rent ControlRent control is a maximum rental that tenants may be charged. |
Reorder PointReorder point – is the level of stock at which a replenishment order should be placed. |
Repo RateRepo rate is the interest rate associated with the sale and buy-back of repos (financial assets) between banks and the reserve bank. |
Resource AllocatingThis is the process of assigning resources to a task, client etc. |
ResourcesResources are means or inputs used in the production process, example human resources. |
Resources in ProductionResources in production are also known as means or factors of production, which include natural resources, human resources, capital and entrepreneurship. |
Reverse LogisticsReverse logistics is for all operations related to the reuse of products and materials. It is "the process of moving goods from their typical final destination for the purpose of capturing value, or proper disposal. |
RevisingRevising – going through a piece of writing more than once to make corrections or to memorise. |
Reward SchemesReward system refers to all the monetary, non-monetary and psychological payments that an organisation provides for its employees in exchange for the work they perform. |
RewardsA thing given in recognition of service, effort, or achievement. |
Risk ReductionRisk reduction is a planned positive approach to reduce risks. |