BBI2O1 - Introduction to Business (Chapters 1, 2, 3, 4)

130 termsStudBud Administration258 plays

Terms for BBI201 (Introduction to Business) Chapters 1, 2, 3 & 4.

Flashcards130 cardsFPractice quizPHost liveL

Questions 130

Answers

1
The actual cost for an imported purchased item, composed of charges like duties, fees & taxes.
social cost
landed cost
environmental cost
operating cost
2
When an accountant/senior executive invents phony accounts & redirects money for personal gain.
extortion
bribery
graft
embezzlement
3
A business project that matches the skills of two individuals or businesses for mutual benefit.
strategic alliance
joint venture
merger
multinational corporation
4
The decision of an employee to inform officials or public about a legal or ethical violation.
snitching
cat-calling
whistle-blowing
reporting
5
A corporation owned by a small number of shareholders.
municipal corporation
crown corporation
private corporation
public corporation
6
A person who owns shares in a corporation; also called a stockholder.
shareholder
director
owner
stockbroker
7
The way business and government work together to provide goods and services to consumers.
operating budget
economic system
networking
globalization
8
Those raw materials that we get from the earth, the water, and the air.
economic resources
natural resources
capital resources
human resources
9
When businesses are in control and can charge high prices and raise prices when costs go up.
pricing power
demand
consumer purchasing power
purchasing power
10
A group of individuals who run a corporation and make decisions on behalf of the shareholders.
board of directors
committee
association
general assembly
11
The amount of an asset or resource that exceeds the portion that is utilized.
equilibrium
shortage
synergy
surplus
12
Total personal income minus personal current taxes.
revenue
disposable income
profit
discretionary income
13
A good or service brought into a country for sale.
import
transaction
export
global product
14
A debt of the business.
profit
loss
liability
expense
15
A transaction in which the production and sale of an item occur within the same country.
import
global product
international transaction
domestic transaction
16
An obligation to disclose all important information.
duty to accommodate
duty to report
duty to consult
duty to disclose
17
A business owned by, but existing separately from, its shareholders.
sole proprietorship
franchise
partnership
corporation
18
An employer's obligation to take appropriate steps to stop discrimination against employees
duty to accommodate
duty to consult
duty to report
duty to disclose
19
A body of elected or appointed members who jointly oversee activities of a company/organization
board of trade
board of directors
chief executive officer
board of governors
20
A situation where demand for a product or service exceeds the available supply.
synergy
surplus
equilibrium
shortage
21
The quantity of a good or service that consumers are willing and able to buy.
want
supply
need
demand
22
The money a business receives for the products and/or services it sells or from its investments
profit
revenue
cash
expense
23
Controls, other than tariff barriers, to restrict or deter the importing of goods and services.
customs duties
excise taxes
non-tariff barriers
customs officers
24
A rule used to decide what is good or bad.
ethics
religion
moral
value
25
A business owned by members who utilize the goods and services offered.
co-operative
partnership
franchise
corporation
26
Predicting future conditions.
expecting
prognosticating
forecasting
dreaming
27
An organization that does not seek to make a profit from the operation of the business.
co-operative organization
non-profit organization
not-for-profit organization
for-profit organization
28
The quantity of a good or service that producers can provide.
demand
quality
quantity
supply
29
Having the ability to pay all debts and other obligations.
efficient
solvent
obsolete
liquid
30
Raising money using the owner's resources or money from investors.
debt financing
credit spending
equity financing
bank loan
31
The exchange of goods and services among people in different countries throughout the world.
domestic economy
global economy
command economy
mixed economy
32
The principles of morality & proper conduct that people/businesses use to guide their behaviour
religion
values
morals
ethics
33
Hidden costs of doing business that have a negative impact on people or the environment.
operating costs
opportunity costs
taxes
social costs
34
A sum of money granted by a government to assist an industry or business.
bailout
subsidy
handout
loan
35
An accountant who investigates legal and financial documents looking for evidence of tampering.
consultant
forensic accountant
tax accountant
auditor
36
An individual or business that makes a product.
supply
producer
buyer
consumer
37
A process whereby one company combines with or takes over the ownership of another company
strategic alliance
merger
joint venture
multinational corporation
38
Equal pay for work of equal value.
emancipation
trading partner
gender bias
pay equity
39
Work directed toward the innovation, introduction, & improvement of products and processes.
research and development (R&D)
quality and assurance (Q&A)
first-mover advantage (FMA)
return on investment (ROI)
40
The sum of a country's way of life, beliefs, and customs.
ideology
religion
culture
ethics
41
The production or sale of goods/services to satisfy the needs, wants, & demands of customers.
business
association
charity
society
42
Borrowing money to finance operations of the business.
equity financing
debt financing
bank loan
credit spending
43
A situation where a difficult choice must be made between two or more options.
dualism
dilemma
double
dichotomy
44
Disposable income (after-tax income) minus all payments necessary to meet current bills.
revenue
discretionary income
disposable income
profit
45
A group of countries that share the same trade interests.
trading club
trading bloc
trade embargo
trading group
46
Involving two parties or countries.
mulitlateral
partnership
bilateral
unilateral
47
The economic principle that demand goes up as prices come down & comes down when prices go up.
law of demand
law of supply
matching principle
principle of objectivity
48
The net value of property or assets after subtracting any mortgage or liabilities.
principal
downpayment
equity
rate
49
A charitable organization or charity that raises funds for a specific goal.
for-profit organization
non-profit organization
not-for-profit organization
co-operative organization
50
Assets that are consumed in the process of generating revenue.
expenses
tax
price
revenue
51
A situation in which businesses try to sell the same type of product or service to a customer.
monopoly
collusion
competition
capitalism
52
An invisible barrier faced by some groups as they approach senior leadership positions.
Peter principle
locked door
glass ceiling
mail room
53
A method of direct distribution that uses the internet to sell products directly to consumers.
e-transfer
e-transfer
e-mail
e-commerce
54
The amount of money that is required for each stage of production.
cost
supply
currency
price
55
The crime of lying or pretending.
piracy
imbezzlement
fraud
theft
56
A person who provides and innovative product or service to meet a consumer want or need.
investor
entrepreneur
inventor
seller
57
A situation in which a country pays more for its imports than it earns from its exports.
trade deficit
trade surplus
foreign trade
balance of trade
58
A standardized item offered in the same form in all the countries in the world.
global product
global village
global player
global village
59
The most common form of partnership.
common partnership
general partnership
elite partnership
common-law partnership
60
An accountant from outside the company who checks the financial records.
consultant
auditor
accountant
tax inspector
61
The value of a product or service expressed in a given currency.
cost
profit
sale
price
62
Something that consumers no longer want because it has been replaced by a new/improved product.
takeover
good
obsolete
export
63
The relocation of some of a company's operations to another country.
tax paradise
downsizing
subsidary
offshore outsourcing
64
Money a business receives for the products and/or services it sells or from its investments.
expenses
revenue
capital
profit
65
The legal document that establishes a partnership and each partner's responsibilities.
settlement
partnership agreement
handshake
partnership deal
66
An agreement among Canada, the U.S., and Mexico to allow freer trade among the three countries.
Association of Caribbean States (ACS)
Free Trade Area of the Americas (FTAA)
Trans-Pacific Partnership (TPP)
North American Free Trade Agreement (NAFTA)
67
An effort by a country to protect its domestic industry by raising the cost of imported goods.
customs officer
border crossing
excise tax
tariff barrier
68
People who work to produce goods and services in a business; also known as workforce or labour.
human resources
natural resources
capital resources
economic resources
69
Voluntary activities by a company to operate in a social & environmentally sustainable manner.
market research
corporate social responsibility (CSR)
human resources (HR)
research and development (R&D)
70
Making an individual or group feel uncomfortable in a work situation due to religion, race, etc
bullying
backstabbing
harrassment
mobbing
71
An agreement between countries to allow goods & services to flow more freely across borders.
trading partnership
foreign trade
trade agreement
balance of trade
72
A personal or corporate belief about what is important.
value
religion
ethics
moral
73
A corporation with many shareholders, whose shares can be bought and sold on a stock exchange.
municipal corporation
crown corporation
private corporation
public corportation
74
Responsibility for claims against the business that extends to one's personal assets.
limited ownership
unlimited liability
unlimited ownership
limited liability
75
A business owned and operated by the provincial or federal government.
municipal corporation
public corportation
private corporation
crown corporation
76
A situation in which a country pays less for its imports than it earns from its exports.
trade surplus
foreign trade
trade deficit
balance of trade
77
An accounting measure designed to gauge the financial health of a business or industry.
asset
expense
profit margin
equity
78
The phenomenon that occurs when many items consumers need & want are created in other countries
global dependancy
global economy
global product
global player
79
A resource such as equipment, a building, or money, that is used to produce goods and services.
capital resources
human resources
economic resources
natural resources
80
Conducting business in a way that is in line with society's values.
gross domestic product (GDP)
return on investment (ROI)
corporate social responsibility (CSR)
gross national product (GNP)
81
Money left over from sales after the costs and expenses of operating a business have been paid.
capital
revenue
profit
expenses
82
A person who takes risks & starts a venture to solve a problem or to seize an opportunity.
seller
entrepreneur
inventor
investor
83
The paths of ownership that goods or services follow as they pass from producer to consumer.
distribution channels
inroads
franchises
marketplaces
84
The point where supply equals demand for a product where the supply & demand curves intersect.
value added
equilibrium
surplus
shortage
85
Any evidence that an invention is already known which disputes the originality of an invention.
prior art
patent troll
intellectual property
patent
86
The consumption of natural resources faster than nature can replenish them.
environmental issues
environmental health
environmental degradation
environmental jobs
87
The extent to which shareholders of a corporation are personally responsible for its debts.
common-law partnership
limited partnership
common-law partnership
team partnership
88
The relationship between a country's imports and exports.
balance of trade
global trade
board of trade
trading partners
89
A business's trade secrets or the ideas or talent of its workforce.
wordmarks
trademarks
patents
intellectual property (IP)
90
An agreement between businesses to commit resources to achieve a common set of objectives.
joint venture
multinational corporation
strategic alliance
merger
91
A politico-economic union of 28 member states that are located primarily in Europe.
The Commonwealth
North Atlantic Treaty Organization (NATO)
European Union (EU)
United Nations (UN)
92
Exporting a product to an intermediary, who then conveys the product to the importer.
direct exporting
imports
exports
indirect exporting
93
A five-step procedure that assists in making the most best choice among competing alternatives.
product mapping
product research
decision-making model
market research
94
A person who runs a franchise operation & is under an agreement with the franchiser.
franchise
Francesco
franchiser
franchisee
95
A profitability measure that evaluates business performance by dividing net profit by net worth
gross national product (GNP)
return on investment (ROI)
gross domestic product (GDP)
first-mover advantage (FMA)
96
The formal name for a city or town.
municipal corporation
public corportation
crown corporation
private corporation
97
The parent company who grants the franchise & provides goods and/or services to the franchisees
franchisee
Francesco
franchiser
franchise
98
Mutually dependent; relying on others who also rely on you.
interdependent
codependent
dependent
independent
99
Helping producers in developing countries so they can sell their products for a profit.
buying green
aid
free trade
fair trade
100
Legal debts or obligations that arise during the course of business operations.
equipment
liability
asset
plant
101
The means through which goods and services are made available to consumers.
capital resources
natural resources
economic resources
human resources
102
The percentage of an industry that is earned by a company over a specified time period.
fiscal year
market share
business cycle
consumer purchasing power
103
A sum of money paid regularly by a company to its shareholders out of its profits (or reserves)
share
bonus
bond
dividend
104
An item necessary for survival such as food, clothing, or shelter.
demand
want
need
supply
105
A business operating in or involving several countries. Also known as a transnational.
crown corporation
municipal corporation
multinational corporation
public corporation
106
Expenditures that help a business generate revenue.
expenses
revenue
costs
capital
107
Exporting a product directly to an importer, without using an intermediary.
imports
direct exporting
indirect exporting
exports
108
The money a business owes after the costs and expenses have been paid and revenue received.
loss
loan
profit
debt
109
An amount added by a country to the cost of an imported product.
customs duty
tax
surcharge
tariff
110
A moral problem with a choice between potential right and wrong answers.
ethical dilemma
morality
decision-making
marriage
111
The total value of all goods & services produced in a country during a specific period of time.
equity financing
gross national product (GNP)
budget spending
gross domestic product (GDP)
112
All business transactions needed to create, ship & sell goods/services across national borders.
gross net product (GNP)
domestic trade
gross national product (GDP)
foreign trade
113
A reduction in the value of an asset with the passage of time due in particular to wear & tear.
depreciation
decrease
appreciation
increase
114
Short for "small office, home office," These are home-based businesses.
GDP
GNP
FMA
SOHO
115
A movement that develops from the bottom up.
grass roots
monopoly
trickle down
democracy
116
The spending of money on luxury goods and services to publicly display economic power.
disposable income
disruptive technology
conspicuous consumption
discretionary income
117
An item not necessary for survival but that adds pleasure and comfort to life.
supply
need
demand
want
118
When consumers have the power to choose where & how much they will pay for goods & services.
pricing power
purchasing power
consumer purchasing power
sales promotion
119
A good or service produced in one country and sold in another.
transaction
export
global product
import
120
A transaction in which the production and sale of an item take place in different countries.
international transaction
import
domestic transaction
global product
121
The reward that an owner receives for taking risks.
expenses
profit
captial
revenue
122
A list or schedule of the percent of the product price to be charged as customs duty.
tax
standard
surcharge
tariff
123
Any location where producers and consumers come together to engage in buying or selling.
venue
shop
marketplace
store
124
Patrons of a particular store or business.
buyers
sellers
consumers
customers
125
A document that describes specifically how employees should respond to different situations.
computer code
report
memorandum
code of ethics
126
Any business that employs fewer than 500 people.
corporation
sole proprietorship
partnership
small- or medium-sized business
127
Illegal buying/selling of company shares based on confidential info not available to the public
inside information
insider dealing
inside sales
insider trading
128
A decrease in owner's equity resulting from a personal withdrawal of funds/assets by the owner.
revenue
drawings
expenses
profits
129
A competitive advantage a company earns by being the first to enter a specific market/industry.
market leader
first-mover advantage
first-right of refusal
loss-leader
130
A person who buys goods or services. Also referred to as a customer.
consumer
buyer
proprietor
producer

BBI2O1 - Introduction to Business (Chapters 1, 2, 3, 4) Flashcards | StudBud

BBI2O1 - Introduction to Business (Chapters 1, 2, 3, 4)

130 termsStudBud Administration258 plays

Terms for BBI201 (Introduction to Business) Chapters 1, 2, 3 & 4.

Flashcards130 cardsFPractice quizPHost liveL

Questions 130

Answers

1
The actual cost for an imported purchased item, composed of charges like duties, fees & taxes.
social cost
landed cost
environmental cost
operating cost
2
When an accountant/senior executive invents phony accounts & redirects money for personal gain.
extortion
bribery
graft
embezzlement
3
A business project that matches the skills of two individuals or businesses for mutual benefit.
strategic alliance
joint venture
merger
multinational corporation
4
The decision of an employee to inform officials or public about a legal or ethical violation.
snitching
cat-calling
whistle-blowing
reporting
5
A corporation owned by a small number of shareholders.
municipal corporation
crown corporation
private corporation
public corporation
6
A person who owns shares in a corporation; also called a stockholder.
shareholder
director
owner
stockbroker
7
The way business and government work together to provide goods and services to consumers.
operating budget
economic system
networking
globalization
8
Those raw materials that we get from the earth, the water, and the air.
economic resources
natural resources
capital resources
human resources
9
When businesses are in control and can charge high prices and raise prices when costs go up.
pricing power
demand
consumer purchasing power
purchasing power
10
A group of individuals who run a corporation and make decisions on behalf of the shareholders.
board of directors
committee
association
general assembly
11
The amount of an asset or resource that exceeds the portion that is utilized.
equilibrium
shortage
synergy
surplus
12
Total personal income minus personal current taxes.
revenue
disposable income
profit
discretionary income
13
A good or service brought into a country for sale.
import
transaction
export
global product
14
A debt of the business.
profit
loss
liability
expense
15
A transaction in which the production and sale of an item occur within the same country.
import
global product
international transaction
domestic transaction
16
An obligation to disclose all important information.
duty to accommodate
duty to report
duty to consult
duty to disclose
17
A business owned by, but existing separately from, its shareholders.
sole proprietorship
franchise
partnership
corporation
18
An employer's obligation to take appropriate steps to stop discrimination against employees
duty to accommodate
duty to consult
duty to report
duty to disclose
19
A body of elected or appointed members who jointly oversee activities of a company/organization
board of trade
board of directors
chief executive officer
board of governors
20
A situation where demand for a product or service exceeds the available supply.
synergy
surplus
equilibrium
shortage
21
The quantity of a good or service that consumers are willing and able to buy.
want
supply
need
demand
22
The money a business receives for the products and/or services it sells or from its investments
profit
revenue
cash
expense
23
Controls, other than tariff barriers, to restrict or deter the importing of goods and services.
customs duties
excise taxes
non-tariff barriers
customs officers
24
A rule used to decide what is good or bad.
ethics
religion
moral
value
25
A business owned by members who utilize the goods and services offered.
co-operative
partnership
franchise
corporation
26
Predicting future conditions.
expecting
prognosticating
forecasting
dreaming
27
An organization that does not seek to make a profit from the operation of the business.
co-operative organization
non-profit organization
not-for-profit organization
for-profit organization
28
The quantity of a good or service that producers can provide.
demand
quality
quantity
supply
29
Having the ability to pay all debts and other obligations.
efficient
solvent
obsolete
liquid
30
Raising money using the owner's resources or money from investors.
debt financing
credit spending
equity financing
bank loan
31
The exchange of goods and services among people in different countries throughout the world.
domestic economy
global economy
command economy
mixed economy
32
The principles of morality & proper conduct that people/businesses use to guide their behaviour
religion
values
morals
ethics
33
Hidden costs of doing business that have a negative impact on people or the environment.
operating costs
opportunity costs
taxes
social costs
34
A sum of money granted by a government to assist an industry or business.
bailout
subsidy
handout
loan
35
An accountant who investigates legal and financial documents looking for evidence of tampering.
consultant
forensic accountant
tax accountant
auditor
36
An individual or business that makes a product.
supply
producer
buyer
consumer
37
A process whereby one company combines with or takes over the ownership of another company
strategic alliance
merger
joint venture
multinational corporation
38
Equal pay for work of equal value.
emancipation
trading partner
gender bias
pay equity
39
Work directed toward the innovation, introduction, & improvement of products and processes.
research and development (R&D)
quality and assurance (Q&A)
first-mover advantage (FMA)
return on investment (ROI)
40
The sum of a country's way of life, beliefs, and customs.
ideology
religion
culture
ethics
41
The production or sale of goods/services to satisfy the needs, wants, & demands of customers.
business
association
charity
society
42
Borrowing money to finance operations of the business.
equity financing
debt financing
bank loan
credit spending
43
A situation where a difficult choice must be made between two or more options.
dualism
dilemma
double
dichotomy
44
Disposable income (after-tax income) minus all payments necessary to meet current bills.
revenue
discretionary income
disposable income
profit
45
A group of countries that share the same trade interests.
trading club
trading bloc
trade embargo
trading group
46
Involving two parties or countries.
mulitlateral
partnership
bilateral
unilateral
47
The economic principle that demand goes up as prices come down & comes down when prices go up.
law of demand
law of supply
matching principle
principle of objectivity
48
The net value of property or assets after subtracting any mortgage or liabilities.
principal
downpayment
equity
rate
49
A charitable organization or charity that raises funds for a specific goal.
for-profit organization
non-profit organization
not-for-profit organization
co-operative organization
50
Assets that are consumed in the process of generating revenue.
expenses
tax
price
revenue
51
A situation in which businesses try to sell the same type of product or service to a customer.
monopoly
collusion
competition
capitalism
52
An invisible barrier faced by some groups as they approach senior leadership positions.
Peter principle
locked door
glass ceiling
mail room
53
A method of direct distribution that uses the internet to sell products directly to consumers.
e-transfer
e-transfer
e-mail
e-commerce
54
The amount of money that is required for each stage of production.
cost
supply
currency
price
55
The crime of lying or pretending.
piracy
imbezzlement
fraud
theft
56
A person who provides and innovative product or service to meet a consumer want or need.
investor
entrepreneur
inventor
seller
57
A situation in which a country pays more for its imports than it earns from its exports.
trade deficit
trade surplus
foreign trade
balance of trade
58
A standardized item offered in the same form in all the countries in the world.
global product
global village
global player
global village
59
The most common form of partnership.
common partnership
general partnership
elite partnership
common-law partnership
60
An accountant from outside the company who checks the financial records.
consultant
auditor
accountant
tax inspector
61
The value of a product or service expressed in a given currency.
cost
profit
sale
price
62
Something that consumers no longer want because it has been replaced by a new/improved product.
takeover
good
obsolete
export
63
The relocation of some of a company's operations to another country.
tax paradise
downsizing
subsidary
offshore outsourcing
64
Money a business receives for the products and/or services it sells or from its investments.
expenses
revenue
capital
profit
65
The legal document that establishes a partnership and each partner's responsibilities.
settlement
partnership agreement
handshake
partnership deal
66
An agreement among Canada, the U.S., and Mexico to allow freer trade among the three countries.
Association of Caribbean States (ACS)
Free Trade Area of the Americas (FTAA)
Trans-Pacific Partnership (TPP)
North American Free Trade Agreement (NAFTA)
67
An effort by a country to protect its domestic industry by raising the cost of imported goods.
customs officer
border crossing
excise tax
tariff barrier
68
People who work to produce goods and services in a business; also known as workforce or labour.
human resources
natural resources
capital resources
economic resources
69
Voluntary activities by a company to operate in a social & environmentally sustainable manner.
market research
corporate social responsibility (CSR)
human resources (HR)
research and development (R&D)
70
Making an individual or group feel uncomfortable in a work situation due to religion, race, etc
bullying
backstabbing
harrassment
mobbing
71
An agreement between countries to allow goods & services to flow more freely across borders.
trading partnership
foreign trade
trade agreement
balance of trade
72
A personal or corporate belief about what is important.
value
religion
ethics
moral
73
A corporation with many shareholders, whose shares can be bought and sold on a stock exchange.
municipal corporation
crown corporation
private corporation
public corportation
74
Responsibility for claims against the business that extends to one's personal assets.
limited ownership
unlimited liability
unlimited ownership
limited liability
75
A business owned and operated by the provincial or federal government.
municipal corporation
public corportation
private corporation
crown corporation
76
A situation in which a country pays less for its imports than it earns from its exports.
trade surplus
foreign trade
trade deficit
balance of trade
77
An accounting measure designed to gauge the financial health of a business or industry.
asset
expense
profit margin
equity
78
The phenomenon that occurs when many items consumers need & want are created in other countries
global dependancy
global economy
global product
global player
79
A resource such as equipment, a building, or money, that is used to produce goods and services.
capital resources
human resources
economic resources
natural resources
80
Conducting business in a way that is in line with society's values.
gross domestic product (GDP)
return on investment (ROI)
corporate social responsibility (CSR)
gross national product (GNP)
81
Money left over from sales after the costs and expenses of operating a business have been paid.
capital
revenue
profit
expenses
82
A person who takes risks & starts a venture to solve a problem or to seize an opportunity.
seller
entrepreneur
inventor
investor
83
The paths of ownership that goods or services follow as they pass from producer to consumer.
distribution channels
inroads
franchises
marketplaces
84
The point where supply equals demand for a product where the supply & demand curves intersect.
value added
equilibrium
surplus
shortage
85
Any evidence that an invention is already known which disputes the originality of an invention.
prior art
patent troll
intellectual property
patent
86
The consumption of natural resources faster than nature can replenish them.
environmental issues
environmental health
environmental degradation
environmental jobs
87
The extent to which shareholders of a corporation are personally responsible for its debts.
common-law partnership
limited partnership
common-law partnership
team partnership
88
The relationship between a country's imports and exports.
balance of trade
global trade
board of trade
trading partners
89
A business's trade secrets or the ideas or talent of its workforce.
wordmarks
trademarks
patents
intellectual property (IP)
90
An agreement between businesses to commit resources to achieve a common set of objectives.
joint venture
multinational corporation
strategic alliance
merger
91
A politico-economic union of 28 member states that are located primarily in Europe.
The Commonwealth
North Atlantic Treaty Organization (NATO)
European Union (EU)
United Nations (UN)
92
Exporting a product to an intermediary, who then conveys the product to the importer.
direct exporting
imports
exports
indirect exporting
93
A five-step procedure that assists in making the most best choice among competing alternatives.
product mapping
product research
decision-making model
market research
94
A person who runs a franchise operation & is under an agreement with the franchiser.
franchise
Francesco
franchiser
franchisee
95
A profitability measure that evaluates business performance by dividing net profit by net worth
gross national product (GNP)
return on investment (ROI)
gross domestic product (GDP)
first-mover advantage (FMA)
96
The formal name for a city or town.
municipal corporation
public corportation
crown corporation
private corporation
97
The parent company who grants the franchise & provides goods and/or services to the franchisees
franchisee
Francesco
franchiser
franchise
98
Mutually dependent; relying on others who also rely on you.
interdependent
codependent
dependent
independent
99
Helping producers in developing countries so they can sell their products for a profit.
buying green
aid
free trade
fair trade
100
Legal debts or obligations that arise during the course of business operations.
equipment
liability
asset
plant
101
The means through which goods and services are made available to consumers.
capital resources
natural resources
economic resources
human resources
102
The percentage of an industry that is earned by a company over a specified time period.
fiscal year
market share
business cycle
consumer purchasing power
103
A sum of money paid regularly by a company to its shareholders out of its profits (or reserves)
share
bonus
bond
dividend
104
An item necessary for survival such as food, clothing, or shelter.
demand
want
need
supply
105
A business operating in or involving several countries. Also known as a transnational.
crown corporation
municipal corporation
multinational corporation
public corporation
106
Expenditures that help a business generate revenue.
expenses
revenue
costs
capital
107
Exporting a product directly to an importer, without using an intermediary.
imports
direct exporting
indirect exporting
exports
108
The money a business owes after the costs and expenses have been paid and revenue received.
loss
loan
profit
debt
109
An amount added by a country to the cost of an imported product.
customs duty
tax
surcharge
tariff
110
A moral problem with a choice between potential right and wrong answers.
ethical dilemma
morality
decision-making
marriage
111
The total value of all goods & services produced in a country during a specific period of time.
equity financing
gross national product (GNP)
budget spending
gross domestic product (GDP)
112
All business transactions needed to create, ship & sell goods/services across national borders.
gross net product (GNP)
domestic trade
gross national product (GDP)
foreign trade
113
A reduction in the value of an asset with the passage of time due in particular to wear & tear.
depreciation
decrease
appreciation
increase
114
Short for "small office, home office," These are home-based businesses.
GDP
GNP
FMA
SOHO
115
A movement that develops from the bottom up.
grass roots
monopoly
trickle down
democracy
116
The spending of money on luxury goods and services to publicly display economic power.
disposable income
disruptive technology
conspicuous consumption
discretionary income
117
An item not necessary for survival but that adds pleasure and comfort to life.
supply
need
demand
want
118
When consumers have the power to choose where & how much they will pay for goods & services.
pricing power
purchasing power
consumer purchasing power
sales promotion
119
A good or service produced in one country and sold in another.
transaction
export
global product
import
120
A transaction in which the production and sale of an item take place in different countries.
international transaction
import
domestic transaction
global product
121
The reward that an owner receives for taking risks.
expenses
profit
captial
revenue
122
A list or schedule of the percent of the product price to be charged as customs duty.
tax
standard
surcharge
tariff
123
Any location where producers and consumers come together to engage in buying or selling.
venue
shop
marketplace
store
124
Patrons of a particular store or business.
buyers
sellers
consumers
customers
125
A document that describes specifically how employees should respond to different situations.
computer code
report
memorandum
code of ethics
126
Any business that employs fewer than 500 people.
corporation
sole proprietorship
partnership
small- or medium-sized business
127
Illegal buying/selling of company shares based on confidential info not available to the public
inside information
insider dealing
inside sales
insider trading
128
A decrease in owner's equity resulting from a personal withdrawal of funds/assets by the owner.
revenue
drawings
expenses
profits
129
A competitive advantage a company earns by being the first to enter a specific market/industry.
market leader
first-mover advantage
first-right of refusal
loss-leader
130
A person who buys goods or services. Also referred to as a customer.
consumer
buyer
proprietor
producer