What Is Segment Margin? Segment margin is the amount of profit or loss generated by one component of a firm. Knowing the gross margin for the whole firm is not usually sufficient in huge corporations. However, knowing the segment margins for each division of the firm offers a more realistic […]
Economics
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What Is Joint Supply? Joint supply results when multiple products are derived from the same source and at the same expense. For example, when sheep are being raised for wool and meat. A product or process that can provide two or more outputs is referred to as joint supply in […]
What Is Non-negotiable? Non-negotiable means not open for debate or modification. As a result, it is a condition that cannot be changed through discussion or negotiation. In business, it can refer to the price of a good that is firmly established. Therefore, the price cannot be adjusted and is considered […]
What Is Marxism? Marxism is the political, economic, and social theories of Karl Marx embracing the inevitable evolution of harmonious, classless socialism. Marxism holds that the fight between social classes is a major force in history. Further, that there will eventually be a society without classes. It investigates the impact […]
What Does Y2K Mean? Y2K is an acronym for the year 2000. In the late 1990s, there was serious concern that potential computer errors would occur related to the computer formatting of calendar dates. The fear of Y2K was in response to a prevalent computer programming shortcut. Many computer programs […]
Cutting Prices vs Cutting Costs Cutting prices is the competitive strategy of reducing prices to introduce a new product, expand market share, or drive away competitors. Cutting costs refers to actions taken by a firm to cut expenses and increase profitability. Cost-cutting strategies are generally undertaken when a company is […]