Term of the Day

overhead

The ongoing administrative expenses of a business which cannot be attributed to any specific business activity, but are still necessary for thebusiness to function. Examples include rentutilities, and insurance.
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Usage Example
In hopes of reducing some overhead costs, the company moved to a smaller and cheaper office.

Term of the Day

economics

The theories, principles, and models that deal with how the market processworks. It attempts to explain how wealth is created and distributed in communities, how people allocate resources that are scarce and have many alternative uses, and other such matters that arise in dealing with human wants and their satisfaction.
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Usage Example
Many students who pursue a career in business must study economics to help better understand why businesses make certain decisions based on the current economic state.