Key Words T3 Flashcards Preview

business > Key Words T3 > Flashcards

Flashcards in Key Words T3 Deck (39):
1

Fiscal Policy

Using changes in taxation and government expenditure to manage the economy

2

Lay Off(staff)

Make employees redundant

3

Social security payments

Money taken by the brithish government from people's wages to pay for the system of payments to people who are unemployed or ill

4

Anti-competitive practice

Attempts by firms to prevent or restrict competition

5

Barriers to entry

Restrictions that mean it will be more difficult for new firms to enter the market

6

Merger

When two or more businesses join to make a new firm

7

Protectionism

The use of trade barriers to protect domestic producers

8

Infant industries

Businesses that are yet to be established

9

Dumping

Where a business sells goods in another country often below price

10

Trade barriers

Measures designed to restrict trade

11

Quota

Physical limit on the quantity of imports allowed into a country

12

Subsidy

Financial support given to a domestic producer to help compete with overseas firms

13

Interest

Price of borrowed money

14

Monetary policy

Using changes in interest rates and the money supply to manage the economy

15

Budget

An official statement that a government makes about how much it intends to spend and what the rates of taxes are for the next six months or year

16

Tax allowances

Part of income that is not taxed

17

Budgetary measures

Actions taken by the government to influence business and the economy

18

Urbanisation

Process of constructing more and more buildings on rural area

19

Capital intensive

Use of relatively more machinery than labour in production

20

Sustainable development

The idea people should satisfy their basic needs and enjoy improved living standards with ought compromising the quality of life of future generations

21

Capital employed

Amount of money invested in a business

22

Overtrading

Taking one more work than a business can afford to fund effectively

23

Inventory

Stocks of goods

24

Fixed assets

Resources that's re used repeatedly for a period of time by a business

25

Downturn

Period or process in which business activity, production e.t.c is reduced and conditions become worse

26

Undercapitalised

Starting a business with insufficient capital

27

Outcompeted

Perform more effectively in a particular field

28

Overdue

Money that has not been paid by the time expected

29

Communication channels

Routes along which information might travel in a business

30

Downward communication

Passing messages form the tip of the organisation to those at the bottom

31

Upward communication

Passing messages form the bottom of an organisation to those at the top

32

Horizontal communication

Exchange of information between parties of the same level in an organisation hierarchy

33

Internal communication

Communication between people inside the business

34

External communication

Communication between the business and those outside such as customers

35

Formal communication

Use of recognised channels when communicating

36

Informal communication

Use of non approved channels when communicating

37

Redeployment

Moving someone or something to a different place or job

38

Internal recruitment

Appointing workers from inside the business

39

External recruitment

Appointing workers from outside the business