Examlex
Prime cost is the sum of direct materials and direct labour.
New Product
A good, service, or idea that has recently been introduced to the market, offering new benefits or satisfying newly identified needs or market niches.
Economic Change
A shift in the state of an economy, often marked by fluctuations in employment, prices, and wealth, potentially initiated by policy, market, environmental, or technological alterations.
Demographic Change
The alteration over time in the statistical characteristics of a population, such as age, race, or income.
Professional Standards
Benchmarks or criteria within a profession that define the quality, ethics, and performance expectations for professionals and their practices.
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