Google
Tuesday 
June 19, 2018 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
INDIRECT BUSINESS TAXES: The official entry in the National Income and Product Accounts maintained by the Bureau of Economic Analysis for sales taxes. Indirect business taxes are one key difference between national income (the resource cost of production) and gross/net domestic product (the market value of production). For further discussion of this point, see gross domestic product and national income or net domestic product and national income. Indirect business taxes, abbreviated IBT, is generally less than 10% of gross domestic product (7-8% is common).

Visit the GLOSS*arama


PLANT:

The physical capital (building and equipment) at a particular location used for the production of goods and services. A plant, or factory, is usually a relatively large production operation (compared with something smaller, like a shop). While plant and firm are occasionally used synonymously, a given firm might own more than one plant and a given plant might be owned by more than one firm.
A plant is essentially the geographic manifestation of large scale production, where the capital, workers, and materials are combined in the production of goods and services.

The term plant is occasionally used synonymously with other terms such as firm or business. However, to be precise, a firm or business is the organization set up to oversee production and a plant is the physical location of the production. The one term that is largely synonymous with plant is factory.

The distinction between the terms firm (or business) and plant (or factory) provides a couple of interesting combinations.

  • A given firm can operate several different plants. Consider The Wacky Willy Company, proud producer of Wacky Willy Stuffed Amigos (those adorable foam-filled tarantulas and scorpions). The Wacky Willy Company actually operates several plants for the production of Stuffed Amigos. They have a main assembly plant on the north edge of Shady Valley, just the up the highway from the shopping mall. Then they also have a fabric-cutting facility in Oak Town, thirty miles south of Shady Valley, a tag-printing plant in nearby Breezy Burg, and a stuffing poofer operation located in upstate Whispering Falls. The Wacky Willy Company is clearly a multi-plant firm. A single firm and four plants.

  • A single plant can be operated by more than one firm. Consider the wireless communications data relay equipment production facility located east of Shady Valley. This facility is used to assemble the assorted computers and communications equipment that enables high speed wireless telephone communication. This particular plant is owned and operated as a joint venture among Shady Valley's four wireless telephone services--OmniCell, Digital Distance, Tucker Trilateral Telephone, and FoneCom. In this case, there is one plant and four firms.

<= PLANNING HORIZONPLASTIC MONEY =>


Recommended Citation:

PLANT, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: June 19, 2018].


Check Out These Related Terms...

     | firm | business | company | enterprise | legal business organizations | ownership liability | business objectives | profit maximization | natural selection | factory | industry |


Or For A Little Background...

     | capital | entrepreneurship | production | production cost | supply |


And For Further Study...

     | business sector | second estate | government enterprises | ownership and control | fixed investment |


Related Websites (Will Open in New Window)...

     | National Association of Manufacturers |


Search Again?

Back to the WEB*pedia


APLS

BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time browsing about a thrift store seeking to buy either storage boxes for your winter clothes or several magazines on time travel. Be on the lookout for telephone calls from long-lost relatives.
Your Complete Scope

This isn't me! What am I?

The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
"The will to win is important, but the will to prepare is vital. "

-- Joe Paterno, football coach

ABA
American Bankers Association, Associate in Business Administration
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2018 AmosWEB*LLC
Send comments or questions to: WebMaster