The Economic Content, Typology and Size of Costs. Minimizing Costs
AbstractThe economic management requires strictly measuring the costs, as a starting point in calculating the selling price, in choosing the best production alternative, in substantiating the resource consumption. Any entity will seek to maximize profits and minimize costs. Not in all circumstances does an increase in the size of the companies reduces costs and achieves savings. It all depends on the efficiency evolution of the used inputs. The economic entity may use the following ways to reduce production costs: laying in prod factors at the lowest price possible, reducing stocks, reducing specific raw materials consumption, reducing operation costs and improving the equipment’s usage degree etc.
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Bibliographic InfoArticle provided by Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest in its journal Knowledge Horizons - Economics.
Volume (Year): 5 (2013)
Issue (Month): 3 (September)
Production cost; explicit cost; implicit cost; fixed cost variable cost; total cost;
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