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The cost of producing one additional unit of a music record or digital download.

The difference between the highest price consumers are willing to pay and the price they actually pay for music.

Costs that have already been incurred in the music industry and cannot be recovered.

Costs that do not vary with the level of output in the music production process.

Cost advantage that arises with increased output of music products.

Occurs when companies merge at the same stage of production in the music industry.

A situation where there is a single provider of a certain type of music or music service.

Products that enhance the value of music, such as headphones or concert tickets with album purchases.

Determines the level of sales needed for a music business to cover its costs without making a loss.

The difference between the lowest price producers are willing to sell for and the price they actually receive.

A measure used to evaluate the efficiency or profitability of an investment in the music industry.

Describes the competitive environment of the music industry, like oligopoly in record labels.

Creation and sale of branded products can be a significant revenue stream for artists.

GDP includes the value of the music industry's output as part of a country's economic output.

Measures how changes in price affect the quantity demanded for music or music streaming services.

Musicians and producers hold rights to their music which generates royalties.

Limited availability of music products or tickets, which can increase demand and value.

Occurs when a company expands its control over multiple levels of the music industry production chain.

Charging different prices for music products or services to different consumers.

The potential revenue lost when a musician or label chooses one economic action over another.

Costs that change directly with the level of production or sales in the music industry.

Sources of revenue for the music industry through the authorization of music rights usage.

Payments made to artists for use of their music, providing them with a share of the revenue.

Music companies expand into different markets or sectors for growth and risk mitigation.