Definition of ‘Service Sector’ The portion of the economy that produces intangible goods. According to the U.S. Census Bureau, the service sector primarily consists of truck transportation, messenger Read More
Definition of ‘Work In Progress – WIP’ Material that has entered the production process but is not yet a finished product. Work in progress (WIP) therefore refers to Read More
wage [weyj] noun 1. Often, wages. money that is paid or received for work or services, as by the hour, day, or week. Compare living wage, minimum wage. Read More
gift [gift] noun 1. something given voluntarily without payment in return, as to show favor toward someone, honor an occasion, or make a gesture of assistance; present. 2. Read More
Definition of ‘Profit’ A financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs and taxes needed to sustain Read More
