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APPRECIATION: A more or less permanent increase in value or price. "More or less permanent" doesn't include temporary, short-term jumps in price that are common in many markets. Appreciation is only those price increases that reflect greater consumer satisfaction and thus value. While all sorts of stuff can appreciate in value, some of the more common ones are real estate, works of art, corporate stock, and money. In particular, the appreciation of a nation's money is seen by an increase in the exchange rate caused by a growing, expanding, and healthy economy.
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PRODUCT LIFE CYCLE: The four stages that a product experiences during its life, usually illustrated with a curve. All products have a limited life expectancy. Some are very short, like the Beta Recording Systems, and some are very lengthy, like the television. The four stages are introduction, growth, maturity, and decline. Each stage has certain characteristics associated with it. The way a business handles each stage determines the long-term viability of the product. An example: During the introduction stage: costs are high, customer familiarity with the product is low, profits are generally non-existent, and competition is limited, if at all. If the business does not deal with these conditions properly, the product may never reach the growth stage. See also | introduction stage | growth stage | maturity stage | decline stage | profit | product | service |
Recommended Citation:PRODUCT LIFE CYCLE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: April 20, 2024].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: product life cycle
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MARGINAL FACTOR COST, MONOPSONY The change in total factor cost resulting from a change in the quantity of factor input employed by a monopsony. Marginal factor cost, abbreviated MFC, indicates how total factor cost changes with the employment of one more input. It is found by dividing the change in total factor cost by the change in the quantity of input used. Marginal factor cost is compared with marginal revenue product to identify the profit-maximizing quantity of input to hire.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store trying to buy either a travel case for you toothbrush or a looseleaf notebook binder. Be on the lookout for telephone calls from long-lost relatives.
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The average bank teller loses about $250 every year.
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"Inside the ring or out, ain't nothing wrong with going down. It's staying down that's wrong. " -- Muhammad Ali
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LME
London Metal Exchange
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