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Economics
basics of economics
Industry: Economy
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Economics
Augmented Product
Economy; Economics
A product enhanced by the addition of related services and benefits, eg. installation, warranty, maintenance and repair services, etc. See Core Product; Tangible Product.
Loss Leader Pricing
Economy; Economics
The pricing of a product at less than cost to attract purchasers to a store so that they will buy additional items at normal prices.
Backward Integration
Economy; Economics
A strategy for growth in which a company seeks ownership of, or some measure of control over, its suppliers. See Forward Integration; Horizontal Integration.
Free-in-Store Pricing
Economy; Economics
A pricing method in which the producer is responsible for all freight and delivery costs; the ordered goods are delivered freight free to the customer. See Geographical Pricing.
Average Variable Cost
Economy; Economics
A measure of cost control, calculated by dividing the total variable cost of the goods produced by the number of units sold.