Business

What is Market Access? Market access refers to the capacity of a company or country to sell its goods and services in foreign markets. While it can also apply to domestic trade, it is most commonly discussed in the context…

What is the Breakeven Point (BEP)? In corporate accounting, the breakeven point (BEP) is when a company's operations transition from being unprofitable to profitable. This point is reached when total revenues for a product equal total expenses. The breakeven point…

What is Turnover? Turnover measures how quickly a company replaces its assets within a specific period, encompassing activities such as selling inventory, collecting receivables, or replacing employees. In investment terms, it refers to the percentage of a portfolio that is…

What is Brinkmanship? Brinkmanship is a negotiating technique in which one party aggressively pursues specific terms, compelling the other party to either agree or withdraw from the negotiation. Brinkmanship, also known as "brinkpersonship" or less commonly "brinksmanship," gets its name…

What Is a Fixed Cost? A fixed cost is a business expense that often remains constant regardless of changes in the volume of goods or services produced or sold by the business. Fixed costs are commonly associated with recurring expenses…

What is Unit Cost? A unit cost represents the comprehensive expenses a company bears to manufacture, warehouse, and market a single unit of a specific product or service. It is interchangeable with the term "cost of goods sold" (COGS). This…

What is Keiretsu? Keiretsu is a Japanese term that refers to a business network consisting of various interconnected companies, including manufacturers, supply chain partners, distributors, and sometimes financial institutions. These companies collaborate closely, maintain strong relationships, and sometimes take small…

What is Acceptable Quality Level (AQL)? The acceptable quality level (AQL) is a measure applied to products, defined in ISO 2859-1 as the "quality level that is the worst tolerable." The AQL indicates the maximum number of defective components considered…

What is a Nontariff Barrier? A nontariff barrier refers to any method employed to impede trade that differs from imposing a tariff. These barriers encompass various measures such as quotas, embargoes, sanctions, and levies. Some nations frequently employ nontariff barriers…

What is Acceptance Sampling? Acceptance sampling serves as a vital statistical tool in quality control for companies. It involves selecting a specific number of items from a batch for testing, providing insight into the overall quality of the entire lot.…