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Learning English words semester grade 2 2
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Bonds A certificate of debt issued by a government or corporation guaranteeingpayment of the original investment plus interest by a specified future date.
Capitalism Economic system in which property is privately owned and goods are privately
produced.It is sometimes referred to as the private enterprise system.
Commerce Trade between states or nations.
Competition Rivalry among individuals in order to acquire more of something that is scarce.
Consumer A person who buys economic goods and services
Credit The giving of goods and services in return for the promise of payment at a future
time. The payment usually has interest attached.
Currency Paper money issued by the government.
Deposit To put money in a bank or other financial institution.
Depression A time of economic crisis or bad times in commerce, finance, and industry,
characterized by falling prices, restriction of credit, low output and investment,
many bankruptcies, and a high level of unemployment (many people without
jobs). A less severe crisis is usually known as a recession
Distribution The supplying of goods and services to retailers and others so that people's
needs can be met.
Dividend Profits of a firm that are distributed or given out to its investors (stockholders).
Eonomics The study of choice and decision-making in a world with limited resources.
Export To send and/or sell goods and services outside of one's country.
Goods Anything that anyone wants. All options or alternatives are goods.
Import To bring in and/or buy goods and services from another country.
Income The amount of money one earns. This can be through one's job or through
investments, etc..
Industry The manufacturing (making) and selling of a particular type of good or service -
for example the auto industry.
Inflation Rising prices/Increase in the overall level of prices over an extended period of
time.
Inflation rate The rate at which they are rising.
Interdependent People and/or businesses depending on or helping each other.
Invest To commit (money or capital) in order to gain a financial return - to put one's
money into a business or project to make more money.
Macroeconomics The study of the sum total of economic activity, dealing with the issues of growth,
inflation and unemployment and with national economic policies relating to these
issues.
Manufacture To make or process (a raw material) into a finished product, especially by means
of a large-scale industrial operation.
Market A network in which buyers and sellers interact to exchange goods and services
for money.
Microeconomics The study of the individual parts of the economy, the household and the firm,
how prices are determined and how prices determine the production, distribution
and use of goods and services.
Minimum wage A wage below which employers may not legally pay employees for specific kinds
of employment.
Money The accepted common medium of exchange for goods and services in the
marketplace that functions as the unit of account, a means of deferred payment
and a store of value.
Monopoly A market with only one supplier.
Need A specific quantity of a specific good for which an individual would pay any price.
These are the goods and services a person must have.
Price The amount of money, or other goods, that you have to give up to buy a good or
service.
Product Something produced or made by human or mechanical effort or by a natural
process. In business, products are things or items to be bought and/or sold.
Profit The excess of income over all costs, including the interest cost of the wealth
invested. This means making money after one has paid all the expenses in a
business.
Recession A time of less business activity, usually lasting at least three quarters of the year
or nine months.
,Resource An available supply of something that can be used. There are natural resources,
human resources, etc..
Scarcity Insufficient supply or amount of something needed, a shortage or goods or
services that are needed.
Services The performance of any duties or work for another; helpful or professional activity
Stock A certificate establishing ownership of a stated number of shares in a
corporation's stock. If one owns stock, one owns a part of a company.
Supply and Supply is the amount of goods available at a given price at any time. Demand is
demand how many consumers desire the goods that are in supply.
Surplus A term used when the quantity of a good supplied exceeds the quantity
demanded at the existing price.
Tariff A tax on imports.
Tax A contribution for the support of a government required of persons, groups, or
businesses. There are many different kinds of taxes including income, sales,
state. local, federal taxes.
Trade The business of buying and selling goods and services.
Union Often referred to as a labor union. Groups of workers that come together to work
for better wages and better working conditions for its members.
Wages The payment for work or services to workers - the money people are paid at their
jobs.
Wallstreet The controlling financial interests of the United States. Wall Street itself is located
in New York City.
A company:
- Enters It starts selling there for the first time.
- Penetrates
- Abandons It stops selling there.
- Gets out of
- Leaves
- Dominates a market It is the most important company selling there.
- Corners It is the only company selling there.
- Monopolizes
- Drives another company out of It makes the other company leave the market,
perhaps because it can no longer compete.
- Market growth An increase in the number of people who buy a
particular product or service, or the number of
products that are sold.
- Market segment A group of possible customers who are similar in
their needs, age, education etc.
- Market segmentation The dividing of all possible customers into
groups based on their needs, age, education
etc.
- Market share The number of things that a company sells
compared with the number of things of the same
type that other companies sell.
- Market leader The company that sells most of a product or
service in a particular market.
- Competitors Companies or products in the same market.
- Rivals They compete with each other to sell more, be
more successful etc.
- Key players The most important companies in a particular
market.
- Competition The activity of trying to sell more and be more
successful.
- Low-key When competition isn’t strong.
- Sales What a business sells and the money they
receive for it.
- Intense When competition is strong
, - Stiff
- Fierce
- Stuff
- Sales figures Money received from sales.
- Turnover
- Revenue Money from sales.
- Target A person or a particular group of people that
something is directed at, or that something is
intended for.
- Sales growth The increase in a company’s sales over a
particular period of time, usually given as a
percentage.
- Sales forecast A statement of what the amount or value of a
company’s sales is likely to be in the future,
based on information available now about the
market, past sales, etc.
- Make a sale Sell something.
- Be on sale Be available to buy.
- Unit sales The number of things sold.
- Sales A company department
- A sale A period when a shop is charging less than
usual for goods
- The sales A period when a lot of shops are having a sale.
- Costs The money that a business spends
- Direct costs Directly related to providing the product (e.g.
salaries).
- Fixed costs Costs that doesn’t change when production
goes up or down (e.g. rent, heating etc.)
- Variable costs Change in costs when production goes up or
down (e.g. materials)
- Cost of goods sold (COGS) The variable costs in making particular goods
(e.g. materials and salaries).
- Indirect costs Not directly related to production (e.g.
- Overhead costs administration).
- Overheads
- Expenses Indirect costs.
- Costing Activity of calculating costs.
- Costings Amounts calculated for particular things.
- Gross margin Selling price minus direct production costs
- Net margin Selling price minus total costs. Usually given as
- Profit margin a percentage of the selling price.
- Mark-up Mark-up is usually given as a percentage of the
total costs
- Order When you ask to buy something
- Place an order
- Dispatched When the goods are ready
- Shipped
- Invoice A document asking for payment and showing
the amount to pay.
- Invoicing The activity of producing and sending invoices.
- Billing
- Trade credit A period of time before they have to pay.
- Discount A reduction in the amount they have to pay.
- Pay upfront Pay before they receive the goods.
- Credit policy with payment terms Rules on when and how costumers should pay.
- Cash flow The timing of payments coming into and going
out of a business.
- Debtors Costumers that owe businesses money.
- Bad debts Companies that won’t pay their debts.
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