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Inventory plays a dual role in organizations. Inventory impacts the cost of goods sold as well as supporting the balance sheet, a new concept only recently receiving attention.
Economic Boom
A period of significant economic growth, expansion, and prosperity.
Recession
A significant decline in economic activity spread across the economy, lasting more than a few months, visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.
Purchasing Power Parity Theory
An economic theory that states that exchange rates between currencies are in equilibrium when their purchasing power is the same in each of the two countries.
Market Basket
A fixed set of goods and services used to monitor changes in price levels and purchasing power over time, often used in calculating inflation.
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