Examlex
The natural rate of unemployment is the rate that exists when the economy is producing at potential GDP.
Sunk Costs
Costs that have already been incurred and cannot be recovered or changed, which should not influence future business decisions.
Opportunity Costs
The value of the best alternative forgone in making any decision, representing the benefits that could have been received from that alternative.
Management
Management refers to the coordination and administration of tasks to achieve a goal, including planning, organizing, staffing, directing, and controlling organizational resources.
Consistency
In accounting, the principle that ensures financial statements are comparable across periods by applying the same accounting methods and policies.
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