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Dimensional weight, also known as volumetric weight, is a pricing technique for commercial freight transport (including courier and postal services ), which uses an estimated weight that is calculated from the length, width and height of a package. The shipping fee is based upon the dimensional weight or the actual weight, whichever is greater.
More generally, dimensional analysis is used in interpreting various financial ratios, economics ratios, and accounting ratios. For example, the P/E ratio has dimensions of time (unit: year), and can be interpreted as "years of earnings to earn the price paid".
Dimensionless quantity. Dimensionless quantities, or quantities of dimension one, [ 1] are quantities implicitly defined in a manner that prevents their aggregation into units of measurement. [ 2][ 3] Typically expressed as ratios that align with another system, these quantities do not necessitate explicitly defined units.
Marginal utility. In economics, marginal utility describes the change in utility (pleasure or satisfaction resulting from the consumption) of one unit of a good or service. [ 1] Marginal utility can be positive, negative, or zero. Negative marginal utility implies that every additional unit consumed of a commodity causes more harm than good ...
Total factor productivity is a measure of productive efficiency in that it measures how much output can be produced from a certain amount of inputs. It accounts for part of the differences in cross-country per-capita income. [2] For relatively small percentage changes, the rate of TFP growth can be estimated by subtracting growth rates of labor ...
A good's price elasticity of demand ( , PED) is a measure of how sensitive the quantity demanded is to its price. When the price rises, quantity demanded falls for almost any good ( law of demand ), but it falls more for some than for others. The price elasticity gives the percentage change in quantity demanded when there is a one percent ...
Price–performance ratio. In economics, engineering, business management and marketing the price–performance ratio is often written as cost–performance, cost–benefit or capability/price ( C/P ), refers to a product's ability to deliver performance, of any sort, for its price. Generally speaking, products with a lower price/performance ...
Fundamental theorem of asset pricing. The fundamental theorems of asset pricing (also: of arbitrage, of finance ), in both financial economics and mathematical finance, provide necessary and sufficient conditions for a market to be arbitrage-free, and for a market to be complete. An arbitrage opportunity is a way of making money with no initial ...