Category: Finance Dictionary

Early consumers of latest methods, technologies, goods and products. This makes significant opportunities to springboard innovative products. As leading proponents, their needs direct the general market’s needs and choices.

Every 4 years one extra day is added to the month of February. Increases the standard 365day year to 366 days. Necessary to synchronize the calendar and astronomical year. The leap year

Travel taken from one stop to another. Also known as portion or segment.

In general, it is that which makes something legal. 1. As implied warranty that the statutes of a particular jurisdiction are the basis for any act, agreement, or contract in that jurisdiction.

A party is excused from sharing liabilities arising out of the agreement as a stated provision in said agreement.

A delegatee or delegate executes the delegated task detailed in a written statement of conditions, procedures, and terms.

Raised letters or images pick up ink from a roller and transfer it to the paper. It is a relief-printing process used first by Gutenberg in 1455. Oldest method of commercial printing.

Smooth flow of production over a period driven by sales and production departments agreeing on a fixed level of output volume and output duration. Minimal disruptions from sudden demand-level changes needed. Matching

1. If Nonpolitical, this is an entity that favors social solutions to economic, social, and other problems, and favors less law and restriction to personal freedoms. 2. If Political, this is an

As an improvement in marketing concept, goods and services live a progression from cradle to grave as a life span like people and living organism. Almost every product goes through the stages

Improving an entity’s standard of living defined by a luxury good becoming a necessity. The improvement comes either as an income increase or lifestyle cost reduction. As an example, a family rents

To determine what type of products moved quicker than others, companies use this method of comparing current year sales figures to prior years sales figures.

US business structure type that is relatively recent. It combines corporation limited personal liability with partnership or sole proprietorship single taxation. Each shareholder files own separate tax return. Profits and tax benefits

Commonly used in large, centralized corporations as .a military-type organizational structure.

Screws, washers, nuts and bolts do not merit piece by piece costing, being of such low value, yet, are identified as common parts or components of a product.

World’s most popular non-proprietary open source computer operating system (OS). Its proven efficiency, dependability, and reliability is the reason for its popularity. Linux runs the UNIX OS core ‘kernel’ on nearly every

An contract that authorizes the broker to sell or lease the property at a set price and terms. The broker receives a commission or other compensation from property owner following the closing.

Income from working that is sufficient to pay the bills, buy enough food, handle emergencies, and stay off welfare.

Place to purchase locally produce goods and services. Knowing who will buy the product, where they are located and how far they will travel to obtain the product is essential for this

Program-controlled computer file specifically for the posting of a program’s events. Serves as an audit trail, diagnostic tool or security measure. User access or data manipulation are typical items logged.