The meaning of COST FACTOR is an element or condition related to a unit of product or to an activity or to a service for which money must be spent (as raw material, direct labor, and burden).
Factor cost can be defined as the total cost of all the factors of production in manufacturing a good. Factors of production include capital, land, labor, and enterprise. It does not account for the subsidies received and taxes paid. Hence, it is not the same as the market price. Also ...
The meaning of PRIME COST is the combined total of raw material and direct labor costs incurred in production; broadly : cost less vendor's or agent's commission for charges.
The highest risk factor for coronary heart disease was found to be smoking.verbsdepend on certain factorsSuccess depends on certain factors.factors influence somethingVarious factors influenced the government’s decision.factors determine somethingThe final cost of the product was determined by a ...
From Longman Business Dictionaryˈfactor ˌprice[countable]thepriceof something that is used or needed toproducesomethingCurrent factor prices — wages, rents, interest — tell producers about the likely cost of producing the product.→price ...
The opportunity cost of investing in house/land to avoid paying rentals may be a necessary factor for every business or individual. A person has to decide if he is better off by investing in his land or office space or continue paying rent for the same. He can compare the interest income...
Factors of Marketing Costs Typically, in a marketing costs, the various factors are: a. Fixed costs 1. Salaries 2. Advertising costs 3. Cost associated with salaries of salespersons 4. Production and distribution costs b. Variable costs
Marginal cost is an important factor in economic theory because a company that is looking to maximize its profits will produce up to the point where marginal cost (MC) equalsmarginal revenue (MR). Beyond that point, the cost of producing an additional unit will exceed the revenue generated. ...
factor of production. It can take several forms, such as agricultural, commercial real estate, and more. Businesses can use the land to extract and refine natural resources, such as gold and oil. In the case of agricultural land, farming and cultivation boost the value and utility of the ...
While intangible costs do not have a concrete value, managers often attempt to estimate the impact of the intangibles since they can have a real effect on productivity, costs, and a company's bottom line. In doing acost-benefit analysis, company executives estimate both the tangible and intangi...