Search results
Results From The WOW.Com Content Network
A system of production, resource allocation, and distribution of goods and services within a society or a given geographic area. It includes the combination of the various institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community.
Material requirements planning. Material requirements planning (MRP) is a production planning, scheduling, and inventory control system used to manage manufacturing processes. Most MRP systems are software -based, but it is possible to conduct MRP by hand as well. An MRP system is intended to simultaneously meet three objectives:
Airline reservation systems (ARS) are systems that allow an airline to sell their inventory (seats). It contains information on schedules and fares and contains a database of reservations (or passenger name records) and of tickets issued (if applicable). ARSs are part of passenger service systems (PSS), which are applications supporting the ...
Electronic Data Systems (EDS) Electronic Data Systems (EDS) was an American multinational information technology equipment and services company headquartered in Plano, Texas, which was founded in 1962 by Ross Perot. The company was a subsidiary of General Motors from 1984 until it was spun off in 1996. EDS was acquired by Hewlett-Packard in 2008.
Super-apps. v. t. e. E-procurement (electronic procurement, sometimes also known as supplier exchange) is a collective term used to refer to a range of technologies which can be used to automate the internal and external processes associated with procurement, strategic sourcing and purchasing. [1]
Influence. Robbins's Essay is one of the most-cited works on the methodology and philosophy of economics for the period 1932–1960. Arguments therein have been widely accepted on the demarcation of economics as science from discussion of recommendations on economic policy. [7] In that period, economists started referring to Robbins' definition ...
The economics term cost, also known as economic cost or opportunity cost, refers to the potential gain that is lost by foregoing one opportunity in order to take advantage of another. The lost potential gain is the cost of the opportunity that is accepted. Sometimes this cost is explicit: for example, if a firm pays $100 for a machine, its cost ...
An economic system is a type of social system. The mode of production is a related concept. [2] All economic systems must confront and solve the four fundamental economic problems: What kinds and quantities of goods shall be produced: This fundamental economic problem is anchored on the theory of pricing.