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  2. Resource allocation - Wikipedia

    en.wikipedia.org/wiki/Resource_allocation

    In economics, the field of public finance deals with three broad areas: macroeconomic stabilization, the distribution of income and wealth, and the allocation of resources. . Much of the study of the allocation of resources is devoted to finding the conditions under which particular mechanisms of resource allocation lead to Pareto efficient outcomes, in which no party's situation can be ...

  3. Activity-based costing - Wikipedia

    en.wikipedia.org/wiki/Activity-based_costing

    Direct labour and materials are relatively easy to trace directly to products, but it is more difficult to directly allocate indirect costs to products. Where products use common resources differently, some sort of weighting is needed in the cost allocation process. The cost driver is a factor that creates or drives the cost of the activity ...

  4. Allocative efficiency - Wikipedia

    en.wikipedia.org/wiki/Allocative_efficiency

    When a market fails to allocate resources efficiently, there is said to be market failure. Market failure may occur because of imperfect knowledge, differentiated goods, concentrated market power (e.g., monopoly or oligopoly), or externalities. In the single-price model, at the point of allocative efficiency price is equal to marginal cost.

  5. Managerial economics - Wikipedia

    en.wikipedia.org/wiki/Managerial_economics

    Managerial economics aims to provide the tools and techniques to make informed decisions to maximize the profits and minimize the losses of a firm. [4] Managerial economics has use in many different business applications, although the most common focus areas are related to the risk, pricing, production and capital decisions a manager makes. [31]

  6. Coase theorem - Wikipedia

    en.wikipedia.org/wiki/Coase_theorem

    In law and economics, the Coase theorem (/ ˈ k oʊ s /) describes the economic efficiency of an economic allocation or outcome in the presence of externalities.The theorem is significant because, if true, the conclusion is that it is possible for private individuals to make choices that can solve the problem of market externalities.

  7. Economic efficiency - Wikipedia

    en.wikipedia.org/wiki/Economic_efficiency

    When drawing diagrams for businesses, allocative efficiency is satisfied if output is produced at the point where marginal cost is equal to average revenue. This is the case for the long-run equilibrium of perfect competition. Productive efficiency occurs when units of goods are being supplied at the lowest possible average total cost.

  8. Higher egg prices may extend far into 2025, and egg producers ...

    www.aol.com/finance/higher-egg-prices-may-extend...

    Nationally, a dozen large Grade A eggs cost $3.65 on average in November, compared to $3.37 in October and $2.52 at the start of 2024. However, there is good news for some egg producers, ...

  9. Transaction cost - Wikipedia

    en.wikipedia.org/wiki/Transaction_cost

    In economics, a transaction cost is a cost incurred when making an economic trade when participating in a market. [ 1 ] The idea that transactions form the basis of economic thinking was introduced by the institutional economist John R. Commons in 1931.