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Questions and Answers
What is the term for the values and ways of thinking that are typical of a large business organisation?
What is the purpose of a consumer/customer survey?
What is the term for the process of trying to reduce the amount of money spent by a business?
What is the term for a person who buys products and/or services?
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What is the term for the buying and using of goods and services?
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What is the term for a bank card that can be used to take money directly from your bank account when you pay for something?
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What is the term for when an industry or country becomes less profitable, productive, or wealthy?
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What is the purpose of delegating tasks to someone at a lower level in the hierarchy?
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What is the term for the income remaining after deduction of taxes and social security charges?
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What is the term for a business conducted on the internet?
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What is the term for a person who starts a company, arranges business deals and takes risks?
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What is the term for the capital that a company has from shares rather than from loans?
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What is the term for a statement made in an advertisement, usually by somebody famous or important, saying that they use and like a particular product?
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What is the term for an increase in the number of goods sold to other countries?
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Study Notes
Business Terminology
- A constraint is a factor that limits or restricts something.
- A consumer is a person who buys products and/or services.
- Consumer confidence refers to people's confidence in the economy, making them willing to spend money.
Business Operations
- A core activity is the main or most important thing that an organisation does.
- Cost-cutting involves trying to reduce the amount of money spent by a business.
- Delegation involves giving responsibility to someone at a lower level in the hierarchy to enable them to take decisions.
Finance
- A credit card is a bank card that you can use to buy goods and services and pay for them later.
- A debit card is a bank card that can be used to take money directly from your bank account when you pay for something.
- A deficit is the amount by which money spent or owed is greater than money earned in a particular period of time.
- Disposable income is income remaining after deduction of taxes and social security charges, available to be spent or saved as one wishes.
- Diversification involves developing a wider range of products, interests, skills in order to be more successful or reduce risk.
Business Strategy
- Downsizing involves reducing the number of employees.
- Downturn is the part of the economic cycle when prices or the value of stocks, shares, etc. fall.
- E-commerce is business that is conducted on the internet.
- Endorsements involve a statement made in an advertisement, usually by somebody famous or important, saying that they use and like a particular product.
Entrepreneurship
- An entrepreneur is someone who starts a company, arranges business deals and takes risks.
- Equity is the capital that a company has from shares rather than from loans.
- Executive is a person who has an important job as a manager of a company or organisation.
- Export growth is an increase in the number of goods sold to other countries.
Marketing
- Fair trade is a movement which promotes fairer trading conditions for developing countries.
- A feature is an important part of something.
- Gap in the market is a business opportunity to make or sell something that is not yet available.
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Description
Test your knowledge of marketing terms, including consumer behavior, confidence, and more. Learn about the concepts that shape the marketing world.
