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Managerial Economics by Vanita Agarwal

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Glossary

Accelerator Principle:  The basic relationship which exists between the investment and the change in the output level is known as the accelerator principle.

Accommodating Transactions:  Accommodating transactions are those transactions that take place for the specific purpose of equalizing the balance of payments from an accountant’s view.

Accounting Profit:  Accounting profit is the difference between revenue and explicit costs incurred.

Actual Costs:  Actual Costs are the costs, which a firm incurs on raw materials, labour, machinery, advertising and other such expenses.

Advertisement Elasticity:  Advertisement elasticity is a measure of the responsiveness of the quantity demanded of a particular good to a change in advertising,

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