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The cost of operation is the business strategy implemented in many companies to gain a huge market. [1] [2] The cost of operation is the cost acquired in completing one operation. It may be a conversion of inputs into the outputs or labor costs etc. If the cost of operation is low then it is easy to maintain cost leadership and gain the market with competitive advantage.
Economics is the social science that studies the production, distribution, and consumption of goods and services.
Zero-sum game is a mathematical representation in game theory and economic theory of a situation which involves two sides, where the result is an advantage for one side and an equivalent loss for the other. In other words, player one's gain is equivalent to player two's loss, therefore the net improvement in benefit of the game is zero.
In microeconomic theory, the opportunity cost of a particular activity is the value or benefit given up by engaging in that activity, relative to engaging in an alternative activity. More effective it means if you chose one activity you are giving up the opportunity to do a different option. The optimal activity is the one that, net of its opportunity cost, provides the greater return compared to any other activities, net of their opportunity costs. For example, if you buy a car and use it exclusively to transport yourself, you cannot rent it out, whereas if you rent it out you cannot use it to transport yourself. If your cost of transporting yourself without the car is more than what you get for renting out the car, the optimal choice is to use the car yourself. In basic equation form, opportunity cost can be defined as: "Opportunity Cost = - ." The opportunity cost of mowing one’s own lawn for a doctor or a lawyer would be higher than for a minimum-wage employee, which would make the former more likely to hire someone else to mow their lawn for them.
Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort.
In a broad sense, an electricity market is a system that facilitates the exchange of electricity-related goods and services. During more than a century of evolution of the electric power industry, the economics of the electricity markets had undergone enormous changes for reasons ranging from the technological advances on supply and demand sides to politics and ideology. A restructuring of electric power industry at the turn of the 21st century involved replacing the vertically integrated and tightly regulated "traditional" electricity market with multiple competitive markets for electricity generation, transmission, distribution, and retailing. The traditional and competitive market approaches loosely correspond to two visions of industry: the deregulation was transforming electricity from a public service into a tradable good. As of 2020s, the traditional markets are still common in some regions, including large parts of the United States and Canada.
Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan. In setting prices, the business will take into account the price at which it could acquire the goods, the manufacturing cost, the marketplace, competition, market condition, brand, and quality of product.
Research and development, known in Europe as research and technological development (RTD), is the set of innovative activities undertaken by corporations or governments in developing new services or products, and improving existing ones. Research and development constitutes the first stage of development of a potential new service or the production process.
In industry, models of the learning or experience curve effect express the relationship between experience producing a good and the efficiency of that production, specifically, efficiency gains that follow investment in the effort. The effect has large implications for costs and market share, which can increase competitive advantage over time.
In theories of competition in economics, a barrier to entry, or an economic barrier to entry, is a fixed cost that must be incurred by a new entrant, regardless of production or sales activities, into a market that incumbents do not have or have not had to incur. Because barriers to entry protect incumbent firms and restrict competition in a market, they can contribute to distortionary prices and are therefore most important when discussing antitrust policy. Barriers to entry often cause or aid the existence of monopolies and oligopolies, or give companies market power. Barriers of entry also have an importance in industries. First of all it is important to identify that some exist naturally, such as brand loyalty. Governments can also create barriers to entry to meet consumer protection laws, protecting the public. In other cases it can also be due to inherent scarcity of public resources needed to enter a market.
A low-cost carrier or low-cost airline is an airline that is operated with an especially high emphasis on minimizing operating costs and without some of the traditional services and amenities provided in the fare, resulting in lower fares and fewer comforts. To make up for revenue lost in decreased ticket prices, the airline may charge extra fees – such as for carry-on baggage. As of April 2020, the world's largest low-cost carrier is Southwest Airlines, which operates primarily in the United States, as well as in some surrounding areas.
In economics and accounting, the cost of capital is the cost of a company's funds, or from an investor's point of view is "the required rate of return on a portfolio company's existing securities". It is used to evaluate new projects of a company. It is the minimum return that investors expect for providing capital to the company, thus setting a benchmark that a new project has to meet.
William Jack Baumol was an American economist. He was a professor of economics at New York University, Academic Director of the Berkley Center for Entrepreneurship and Innovation, and Professor Emeritus at Princeton University. He was a prolific author of more than eighty books and several hundred journal articles.
Columbia Generating Station is a nuclear commercial energy facility located on the Hanford Site, 10 miles (16 km) north of Richland, Washington. It is owned and operated by Energy Northwest, a Washington state, not-for-profit joint operating agency. Licensed by the Nuclear Regulatory Commission in 1983, Columbia first produced electricity in May 1984, and entered commercial operation in December 1984.
InterGlobe Aviation Ltd., doing business as IndiGo, is an Indian low-cost airline headquartered in Gurgaon, Haryana, India. It is the largest airline in India by passengers carried and fleet size, with a ~57% domestic market share as of October 2022. It is also the largest individual Asian low-cost carrier in terms of jet fleet size and passengers carried, and the fourth largest carrier in Asia. The airline has carried over 300+ million passengers as of November 2022.
The Corporate Machine is a business simulation computer game from Stardock in which the goal is to create a corporation in one of four industries and eventually dominate rival companies. To win the player must dominate the chosen market. The Corporate Machine is a follow up to the game Business Tycoon, which was itself a sequel to the game Entrepreneur, all developed by Stardock.
One of the most dynamic and fastest growing sectors in the Philippines is the information technology–business process outsourcing (IT-BPO) industry. The industry is composed of eight sub-sectors, namely, knowledge process outsourcing and back offices, animation, call centers, software development, game development, engineering design, and medical transcription. The IT-BPO industry plays a major role in the country's growth and development.
International business refers to the trade of goods, services, technology, capital and/or knowledge across national borders and at a global or transnational scale.
In economics, profit is the difference between the revenue that an economic entity has received from its outputs and the total cost of its inputs. It is equal to total revenue minus total cost, including both explicit and implicit costs.
In economics, gains from trade are the net benefits to economic agents from being allowed an increase in voluntary trading with each other. In technical terms, they are the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade.
Lebara Group is a telecommunications company providing services using the mobile virtual network operator (MVNO) business model in the United Kingdom, France, Denmark, the Netherlands, Germany, Saudi Arabia, Spain, Switzerland and Australia. Lebara provides pay-as-you-go and contract based mobile SIM cards in these countries, and its brand is also used under license in four other countries.
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