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Term of the Day
buying economies of scale
buying department
buying hedge
Definition
A reduction in
unit cost
for buying in large quantities. Large
companies
can
lower
their production
costs
by receiving
discounts
for large
purchases
of the
raw materials
and parts they use in manufacturing.
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Popular 'Business' Terms
in lieu of
corporation
supercede
investment
opportunity cost
variable cost
economy of scale
management
partnership
divestiture
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