Nominal Price Value
The most common figures in measuring business are the figures because they can describe the profitability of business process. Variables in the nominal price measurement are quality, quantities and distribution (prices). There are no excluded variables. Nominal price measures of value are suited for measuring profitability and its components as well as the value of reserves. Return and costs in the loss and profit statement are typical examples of a nominal price. In short-term reviews with only little production income distribution taking place, nominal price values are well suited for estimates of fixed price values.
Read more about this topic: Measurement In Economics
Famous quotes containing the words nominal and/or price:
“Discourage litigation. Persuade your neighbors to compromise whenever you can. Point out to them how the nominal winner is often a real loser—in fees, expenses, and waste of time. As a peacemaker the lawyer has a superior opportunity of being a good man. There will still be business enough.”
—Abraham Lincoln (1809–1865)
“Nowadays people know the price of everything and the value of nothing.”
—Oscar Wilde (1854–1900)