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skim business definition
- To confiscate money before it is counted or reported. In the simplest case, for example, a clerk skims a small amount of cash from a register. In a more elaborate scheme, a firm's controller skims substantial funds by falsifying bank deposit slips received from the organization's bookkeeper.
- Charging high prices for a short period while a product is unique and in large demand. The price is ultimately lowered when competing products are introduced. For example, car dealers charge more than the suggested retail price for a new model in great demand. After several years, the same model is offered at a discount when competitors introduce their own new products.
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