Limiting factor: Difference between revisions
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imported>Doug Williamson (Expand definition.) |
imported>Doug Williamson (Update first sentence.) |
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''Cost and management accounting''. | ''Cost and management accounting''. | ||
A limiting factor is an input resource which is scarce | A limiting factor is an input resource which is scarce. | ||
Also known as a ''scarce resource'' or ''key factor''. | Also known as a ''scarce resource'' or ''key factor''. | ||
Revision as of 11:12, 11 March 2019
Cost and management accounting.
A limiting factor is an input resource which is scarce.
Also known as a scarce resource or key factor.
In different simple situations the most important limiting factor may be skilled labour, a physical resource, time, or something else.
In practice there may well be multiple limiting factors.
