Discount offered to a buyer
from a seller based on increased quantity
purchased, the size of the order, or total
annual volume. See also: Quantity Discount,
Volume Leveraging, Economies of Scale.
Use of economies of scale in
negotiation between a buyer and seller to
reduce the price to the entity. See also:
Quantity Discount, Volume Discount,
Economies of Scale.
Voluntary Restraint Agreement (VRA)
agreement between countries to limit exports
or imports to a mutually agreed upon number
for a specific good.
A level of quality or
achievement considered acceptable or
desirable for use by any person, organization,
or entity, generally established by voluntary
participation of interested parties.