Term of the Day

industrialization

1. The process by which traditionally nonindustrial sectors (such asagriculture,education, health) of an economy become increasingly similar to the manufacturing sector of the economy. 
2. Sustained economic development based on factory productiondivision of labor,concentration of industries and population in certain geographical areas, andurbanization.
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Usage Example
The industrialization of the town quadrupled its size in five years and has attracted workers from nearby towns in search of better job opportunities.
Term of the Day

inventory

  1. company's merchandiseraw materials, and finished and unfinishedproductswhich have not yet been sold. These are considered liquid assets, since they can be converted into cash quite easily. There are various means of valuingthese assets, but to be conservative the lowestvalue is usually used infinancial statements.
  2. The securities bought by a broker or dealer in order to resell them. For...
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Usage Example
You know that if you can't sell your product in time, your product will go to waste and equal lost profits, or at least cause a surplus in your inventory.
Notable Quotable
"The best assurance of continued growth, and high profit margins, comes back to this: the company should have a special niche in the marketplace, so that sales don't depend on offering a commodity item at a lower price than the competition's." 
-Ralph Wange