Business English VOCAB Review

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Match the following business terms with their definitions:

USP = Unique Selling Proposition Binding = (of an agreement or promise) involving an obligation that cannot be broken Fringe benefit = additional benefit Relinquish = to give up something such as a responsibility or claim

Match the following legal and financial concepts with their descriptions:

UCA = Undefinitized Contract Action Loop hole = an opportunity to legally avoid an unpleasant responsibility Quoted/listed on a stock exchange = to be noted on a stock exchange list Tax payer = someone who pays taxes

Match the following company-related terms with their meanings:

Dissolve = close down or dismiss Start-up = a newly established business Conglomerate = a company that owns several smaller businesses Franchising = an agreement which gives the right to market a product or service using a trademark

Match the following operational concepts with their definitions:

Relocate = move something to another place Impact = influence Set hours = fixed hours Self-reliant = independent Signup and view all the answers

Match the following economic terms with their explanations:

Economies of scale = a proportionate saving in costs gained by an increased level of production General public = all of the society Shared capital = kapitał akcyjny Clash = argument about something Signup and view all the answers

Match the following economic terms with their definitions:

Bankruptcy = A legal proceeding for a person or business unable to repay outstanding debts Free economy = An economy where companies decide what to produce based on profit potential Controlled economy = An economy governed by strict rules where the government controls businesses Mixed economy = An economy that combines elements of both government regulation and private enterprise Signup and view all the answers

Match the following business concepts with their descriptions:

Asset = Belonging to an individual or business with value Labour = The workforce of a company or country Ownership = The legal right to possess something Resources = Money, property, skills, and labour available to a company Signup and view all the answers

Match the following types of goods with their classifications:

Essential goods = Products necessary for basic well-being and survival Consumer discretionary = Goods and services not essential for daily life Utilities = Public services like electricity and gas supply Raw materials = Basic substances used in production processes Signup and view all the answers

Match the following economic groups with their characteristics:

Private sector = Part of the economy not under direct state control Public sector = Part of the economy controlled by the state State-owned companies = Business entities owned or created by the government Shareholders = Individuals who own shares in a company Signup and view all the answers

Match the following terms related to economy and finance:

Break even = Making neither a profit nor a loss Market forces = Economic factors affecting the price and availability of commodities Means = Resources and money available to an organization Renewable = Something that can be used more than once Signup and view all the answers

Match the following economic activities with their sectors:

Industry = Production of raw materials and goods Consumer = A person who purchases goods and services for personal use Asset = Power to earn money or value Allocating = Deciding how money or resources should be used Signup and view all the answers

Match the economic systems with their descriptions:

Free economy = Companies self-regulate based on profit motives Controlled economy = Strict government control over all businesses Mixed economy = Combination of government and private industry control Asset-based economy = Economy focused on valuable ownership and resources Signup and view all the answers

Match the following financial terms with their descriptions:

ROI = Return on Investment Starting capital = An amount of money which is needed to start a particular type of business Credit history = A financial record of your credit activity Instalments = A sum of money due as one of several equal payments for something Signup and view all the answers

Match the following concepts related to unemployment with their meanings:

Fired = Kicked out of work Make somebody redundant = Dismissal from your job, caused by your employer needing to reduce the workforce Redundancy money = The financial compensation for removing employees from the organizational structure Lay off = Discharge a worker temporarily or permanently because of economic conditions Signup and view all the answers

Match the following economic terms with their meanings:

Public order = The situation that exists when people obey the laws, rules or authority Price cap = An upper limit set by a government on the price of something Shortage = A situation in which there is not enough of something Market entry barriers = Obstacles that make it difficult for new companies to enter a market Signup and view all the answers

Match the following company structures with their features:

Partnership = A business where two or more people share the risk and profits Private limited company = A company whose shares are not traded on the stock exchange Joint venture = A business arrangement where two or more parties agree to pool resources for a specific task Articles of association = One of the legal documents needed to set up a limited company Signup and view all the answers

Match the following terms related to production with their definitions:

Means of production = Necessary assets and resources enabling production Extractive = Processes that involve extraction of raw materials from the earth Surpass = To do or be better or greater than something Consumer durables = Manufactured items expected to have a long useful life after purchase Signup and view all the answers

Match the following definitions of investment acronyms with their full forms:

ROI = Return on Investment CAGR = Compound Annual Growth Rate EPS = Earnings Per Share P/E Ratio = Price-to-Earnings Ratio Signup and view all the answers

Match the following documents with their purposes:

Memorandum of association = Legal document needed to set up a business Certificate of incorporation = Formal document showing that a company has been incorporated Partnership agreement = Document setting up a partnership Registrar of Companies = Office in charge of company registration matters Signup and view all the answers

Match the following competitive terms with their meanings:

Tough = Strong; not easily broken or made weaker Market niche = A small area of trade within the economy, often involving specialized products Market research = Activity of gathering information about consumers' needs and preferences Market saturation = When a market is no longer achieving additional sales growth Signup and view all the answers

Match the following terms related to resource allocation with their definitions:

Allocate resources = Process of dividing money, skills, etc. between departments Business angels = Private individuals who invest in new businesses Majority equity stake = Ownership interest that is more than 50% of a company's shares Turnover = Total amount of sales made over a set period Signup and view all the answers

Flashcards

Unique Selling Proposition (USP)

A unique aspect of a product or service that makes it stand out from competitors.

Binding Agreement

An agreement that creates a legal obligation that cannot be broken.

Loophole

A technicality or unclear part of a document or agreement that allows someone to avoid a responsibility.

Franchising

An agreement where one business (franchisor) gives another (franchisee) the right to use its brand and sell its products or services.