Economics

Economics

basics of economics

Contributors in Economics

Economics

A method of budgeting in which past sales and previous expenditure levels are ignored; the company formulates its profit goals, determines the actions that will be required to achieve its goals, and ...

Aseptic Packaging

Economy; Economics

A packaging method developed in Sweden in the 1950s; made of paper, foil and plastic aseptic packaging keeps foods bacteria-free for months without refrigeration. See Packaging; Primary Packaging; ...

Aspirational Group

Economy; Economics

A sub-category of a reference group, consisting of individuals (not necessarily known personally) with whom a person desires to be associated. See Associational Group; Contactual Reference Group; ...

Young Marrieds

Economy; Economics

An early stage in the family life cycle; the "young marrieds" group is often targeted by marketers as it is financially well-off and keen to spend, especially on durables. See Family Life Cycle.

Arm's-Length Price

Economy; Economics

The price which various governments force companies to charge to discourage "dumping" abuses; the arm's length price is the price charged by competitors for the same or similar product.

Asch Phemonenon

Economy; Economics

A tendency, first recorded by the psychologist S.E.Asch, for an individual's purchase decisions to be influenced highly by reference groups and group norms. See Group Influences; Reference Group.