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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