Meanings Flashcards
(21 cards)
Foreign exchange
The conversion of one currency into another
What is a niche market
A small, specialized market for a particular product or service.
What is capital
The resources a company uses to generate revenue and profits
What is Quantitative research
A systematic approach to understanding the world through numerical data and statistical analysis
What is qualitative research
Focuses on understanding people’s opinions, attitudes, beliefs, and experiences, often exploring the “why” behind behaviors and decisions
What is profit
More money earned than spent
What is labour
Physical or mental effort work
Bills of exchange
A written order binding one party to pay a fixed sum of money to another party on demand or at a predetermined date.
What is e commerce
commercial transactions conducted electronically on the internet.
History from subsistence econmy to money econmy
Trade move from simple barter, where people swap goods they need, to using commonly valued items like shells and salt, then to metal coins which were easier to carry and widely accepted. As trade grow bigger and distance get longer, people start using bills of exchange—written promises to pay later—so they didn’t have to carry cash. Over time, paper money and banknotes replace coins, and credit cards come in, letting people buy now and pay later through banks. With technology, electronic transfers allow money to move between accounts without using cash, and telebanking made it possible to manage money over the phone. Eventually, the internet bring in e-commerce, where people buy and sell online using digital payments, makin’ trade fast, global, and mostly cashless.
What is a municipal
A type of local authority
What are the functions of a municipal
providing services and administering local government within specific geographic areas.
What are two role of employees
carrying out assigned tasks
meeting management expectations
What are two role of consumers
shaping market trends
giving feedback on goods and services
what are 2 ethical functions of a business
ensure fair business practices
treat stakeholders fairly
2 social functions of a business
providing safe working conditions
meaningful career opportunities.
2 fincancial
managing cash flow, compliance with tax and accounting regulations
what is an organizational chart
a visual representation of an organization’s structure
What is MIS[Management Information System]
to manage information for decision making
Benefits of MIS
Savings in time,money and labour
Improvement in production
Improvement in marketing techniques
Increased competitiveness
