Profit maximizationIn economics, profit maximization is the short run or long run process by which a firm may determine the price, input and output levels that will lead to the highest possible total profit (or just profit in short). In neoclassical economics, which is currently the mainstream approach to microeconomics, the firm is assumed to be a "rational agent" (whether operating in a perfectly competitive market or otherwise) which wants to maximize its total profit, which is the difference between its total revenue and its total cost.
SidewalkA sidewalk (North American English), pavement (British English), footpath in Australia, India, New Zealand and Ireland, or footway, is a path along the side of a road. Usually constructed of concrete, pavers, brick, stone, or asphalt, it is designed for pedestrians. A sidewalk is normally higher than the roadway, and separated from it by a kerb (spelled "curb" in North America). There may also be a planted strip between the sidewalk and the roadway and between the roadway and the adjacent land.
GoodsIn economics, goods are items that satisfy human wants and provide utility, for example, to a consumer making a purchase of a satisfying product. A common distinction is made between goods which are transferable, and services, which are not transferable. A good is an "economic good" if it is useful to people but scarce in relation to its demand so that human effort is required to obtain it. In contrast, free goods, such as air, are naturally in abundant supply and need no conscious effort to obtain them.
MonopsonyIn economics, a monopsony is a market structure in which a single buyer substantially controls the market as the major purchaser of goods and services offered by many would-be sellers. The microeconomic theory of monopsony assumes a single entity to have market power over all sellers as the only purchaser of a good or service. This is a similar power to that of a monopolist, which can influence the price for its buyers in a monopoly, where multiple buyers have only one seller of a good or service available to purchase from.
Maritime boundaryA maritime boundary is a conceptual division of Earth's water surface areas using physiographical or geopolitical criteria. As such, it usually bounds areas of exclusive national rights over mineral and biological resources, encompassing maritime features, limits and zones. Generally, a maritime boundary is delineated at a particular distance from a jurisdiction's coastline. Although in some countries the term maritime boundary represents borders of a maritime nation that are recognized by the United Nations Convention on the Law of the Sea, maritime borders usually serve to identify the edge of international waters.
Wage slaveryIn the capitalist mode of production, wage slavery (or starvation wages) refers to the exploitation of labor by keeping wages low or stagnant in order for a business to maximize its surplus value. Wage slavery can be loosely defined as a person's dependence on wages (or a salary) for their livelihood, especially when wages are low, treatment and conditions are poor, and there are few chances of upward mobility.
Textile industryThe textile industry is primarily concerned with the design, production and distribution of textiles: yarn, cloth and clothing. The raw material may be natural, or synthetic using products of the chemical industry. Textile manufacturing Cotton is the world's most important natural fibre. In the year 2007, the global yield was 25 million tons from 35 million hectares cultivated in more than 50 countries.
Private spaceflightPrivate spaceflight refers to spaceflight developments that are not conducted by a government agency, such as NASA or ESA. During the early decades of the Space Age, the government space agencies of the Soviet Union and United States pioneered space technology in collaboration with affiliated design bureaus in the USSR and private companies in the US. They entirely funded both the development of new spaceflight technologies and the operational costs of spaceflight.
Project managementProject management is the process of leading the work of a team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time, and budget. The secondary challenge is to optimize the allocation of necessary inputs and apply them to meet pre-defined objectives. The objective of project management is to produce a complete project which complies with the client's objectives.
Prefabricated buildingA prefabricated building, informally a prefab, is a building that is manufactured and constructed using prefabrication. It consists of factory-made components or units that are transported and assembled on-site to form the complete building. Buildings have been built in one place and reassembled in another throughout history. This was especially true for mobile activities, or for new settlements. Elmina Castle, the first slave fort in West Africa, was also the first European prefabricated building in Sub-saharan Africa.
Project portfolio managementProject portfolio management (PPM) is the centralized management of the processes, methods, and technologies used by project managers and project management offices (PMOs) to analyze and collectively manage current or proposed projects based on numerous key characteristics. The objectives of PPM are to determine the optimal resource mix for delivery and to schedule activities to best achieve an organization’s operational and financial goals, while honouring constraints imposed by customers, strategic objectives, or external real-world factors.
