Total costs

Total Costs - the sum of the fixed and variable costs incurred in the production of any given quantity level. TPC - abbrev. Trade Practices Commission.

The total costs associated with day-to-day operation of facility. It includes all maintenance and repair, administrative costs, labor costs, janitorial, housekeeping and cleaning costs, all utility costs, ...

Variable Costs costs that vary directly with the volume or quantity produced; variable costs plus fixed costs equal total costs. See Fixed Costs; Total Costs. Variable Pricing see Flexible Pricing.

The order quantity that minimizes the total costs of processing orders and holding inventory. economic organization The way in which the means of production and distribution of goods are organized, such as capitalism or socialism.

Economic Order Quantity (EOQ) The quantity per order (in units) that minimizes the total costs of processing orders and holding inventory. ECR See Efficient Consumer Response. EDI See Electronic Data Interchange.

Breakeven analysis: shows the relationship between total costs and total revenue in order to assess the profitability of different levels of sales volume.

Value - The worth or utility a consumer identifies with your product or organization. Can be equated by subtracting the total costs (or negatives) associated with the experience from the total benefits (or positives).

See also: Total Cost, Product, Customer, Offer, Service