Business English


Terms in this set (...)

Profit maximization
The maximization of the firm's net income
Taxable income
Gross income minus exemptions and allowable deductions as set forth in the Tax Code
Business ethics
A company's attitude and conduct toward its employees, customers, community,and stockholders.
The ability to positively influence people towards the achievement of organization goals through motivation, communication and creation of corporate culture.
Human Resource Management
Activities undertaken to attract, develope, and maintain an effective workforce within an organization.
Is a company that lends you money if you need it.
Expenditure is an investment made by a company when buying equipment.
Standard Deviation
A statistical measure of the variable of a set of observation
Account you usually leave money for a long time.
Black market
regarded as the amount of unofficial or illicit economic activity.
Opportunity cost
value of the next-highest-valued alternative use
refers to limitations—insufficient resources, goods, or abilities to achieve the desired ends.
Gross Domestic Product (GDP)
measures the output of all labor and capital within the country
Is a good that acts as a medium of exchange.
Price control
to keep the prices closer to usual levels.
Exchange rates
The price of one country's currency expressed in another country's currency.
the decline in price of an asset over time attributable to deterioration, obsolescence, and impending retirement.
an asset that pays a constant amount each year to the holder until the annuity expires and/or the holder of the annuity passes away.
Balanced budget
occurs when the total sum of money a government collects in a year is equal to the amount it spends on goods, services, and debt interest.
Barter economy
an economy that lacks a commonly accepted currency, so all exchanges must be made with goods and services because money does not exist in these economies.
Bear market
occurs when almost all stock prices are falling.
a form of organization in which officeholders have defined positions and (usually) titles.
Ceteris Pribus
assuming all else is held constant
The division of economics dealing with broad, general aspects of economics
A market in which there is only one seller of a particular products.
Sole - proprietorship
A business in which one person takes on the majority of ownership and risk.
Income statement
A statement summariying the firm's revenue and expenses over an accounting period, general a quarter or a year
Total equity
Is common equity plus preferred stock
Tangible assets
Physical assets such as plant & equipment
Intangible Assets
Assets such as patents, copyrights, trademarks, & good will

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