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Since an LOE activity is not itself a work item directly associated with accomplishing the final project product, service or result, but rather one that supports such work, its duration is based on the duration of the discrete work activity it is supporting—oiling machinery will start when manufacturing starts and finish when it finishes.
Simple: based on a variety of characteristics; Horizontal: based on a single characteristic but consumers are not clear on quality; Vertical: based on a single characteristic and consumers are clear on its quality [5] The brand differences are mostly minor; they can be merely a difference in packaging or an advertising theme. The physical ...
In any technical subject, words commonly used in everyday life acquire very specific technical meanings, and confusion can arise when someone is uncertain of the intended meaning of a word. This article explains the differences in meaning between some technical terms used in economics and the corresponding terms in everyday usage.
The factors are also frequently labeled "producer goods or services" to distinguish them from the goods or services purchased by consumers, which are frequently labeled "consumer goods". [2] There are two types of factors: primary and secondary. The previously mentioned primary factors are land, labour and capital.
Time and materials (T&M) is a standard phrase in a contract for construction, product development, or any other piece of work in which the employer agrees to pay the contractor based upon the time spent by the contractor's employees and the subcontractors' employees to perform the work, and for materials used in the construction, plus the contractor's markup on the materials used, no matter ...
You can also say this with another phrase like “Excuse me, do you mind if I butt in,” or “Excuse me for interrupting, but…” to clarify what you’re interrupting. 5. “I think it’s ...
Value added is a term in financial economics for calculating the difference between market value of a product or service, and the sum value of its constituents. It is relatively expressed to the supply-demand curve for specific units of sale. [1] It represents a market equilibrium view of production economics and financial analysis.
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