SUPPLY ELASTICITY
Correlation existing between price change of an item and the resulting need for less or more of the item based on demands of consumers.
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Correlation existing between price change of an item and the resulting need for less or more of the item based on demands of consumers.
The facility where outpatients receive surgical services.
In swapping currency. It is the forward rate of exchange that is expressed in terms of premiums or discounts from spot rate.
Temporary path that is electrical in nature that is created between 2 points in an ‘as and when needed’ basis.
Latin-with time. The sequence of events that occur together or at a fixed interval that is timed by a clock.
A system’s state where its intended functions are being performed without degradation or being impaired by other changes or disruptions to its environments.
Commercial coverage for physical damage that is a narrowly defined policy where specific perils are covered.
Method used in accounting where asset depreciation is split into 2 parts (1) profit and loss account and (2)part attributed to value increase charged to a revaluation reserve.
Substance capable of ignition with no exposure to flame or a heat source.
The person in change of a department that consumes revenue and advises line managers. They don’t normally make decisions about operations.
The length of time it takes in order to produce a quality service or product.
Genus of a gram-positive, grape shaped bacteria not forming spores causing food poisoning and infections that lead to meningitis, pneumonia etc.
The struggling of a company with its fiscal responsibilities.
The ban that has been placed on an activity by a parliamentary act. See statute barred.
1. Fixed cost increasing to a new level that is in step with activity changes or usage. 2. Fixed cost for a small volume that can change over a larger volume.
Base price of a vehicle displayed on a sticker on the windscreen.
Situation where demand or requirement of an item can’t be filled from current inventory.
1. Goods and materials that are not in transit but in long term containment, holding or placement. 2. Managing warehouse’s and store houses. 3. Cost of storing.
The method of keeping records in numerical order from the lowest to the highest.
Large stock of essential materials and goods to withstand a long period of scarcity caused by a natural disaster, war or strike action. See strategic stockpiles.