Elements of costs – material costs, labour costs, expenses
The elements of costs are those elements that constitute the cost of the manufacture of a product. The cost of an industrial enterprise may be divided into three principal elements,
Economics
What is a Product Life Cycle? 4 Stages in a Product Life Cycle, Examples, Pdf
The term product life cycle refers to the time period a product is introduced to consumers into the market until it’s removed from the market. The product life cycle is the process almost every product goes through from when it is first introduced into the market until it is removed from the market.
What is Break-even Analysis? |Break-even Chart, pdf
Revenue and cost can be studied by examining the total revenue and total cost of a business. Break-even Analysis implies that at some point in the operations, total revenue has to be equals to the total cost.
What is Zero-Based Budgeting?|Advantages, Disadvantages
Zero-Based Budgeting (ZBB) is a method of budgeting in which all expenses must be justified for each new period, regardless of whether each budget is higher or lower than the previous period.
9 effective way How to Measure Productivity in the workplace
Improve productivity is the key to improve revenue. So there should be some effective system for measuring organizational productivity. Below are 9 effective way for-How to measure productivity in the workplace?
What is cost and revenue in economics?, Types of cost, Revenue calculation formula.
Cost and revenue are the two most important terms in business economics. The target of every business is to minimize the cost and maximize the revenue so that business makes the maximum profit.