Subject Vocabulary unit 4

Question 1

Communication

Answer 1

The sending and receiving of messages

Question 2

Channels of communication

Answer 2

Routes along which information might travel in a business

Question 3

Downward communication

Answer 3

Passing messages from the top of organisation to those at bottom

Question 4

Upward communication

Answer 4

Passing messages from bottom of organisation to those at top

Question 5

Subordinates

Answer 5

Workers who are in a less important position as others

Question 6

Horizontal Communication

Answer 6

The exchange of information between colleagues in the same level of importance each other

Question 7

Agenda

Answer 7

A list of topics that will be discussed in a meeting

Question 8

Minutes

Answer 8

A written record of what was discussed and decided in a meeting.

Question 9

Logistics

Answer 9

The commercial activity where the transporting of goods is in the chain of distribution

Question 10

Containerisation

Answer 10

Where goods are transported in standard metal carriers

Question 11

Seasonal demand

Answer 11

Where demand for a particular product occurs at a particular times of the year

Question 12

Stockpiling

Answer 12

The building up of inventories over period of time in preparation for a sharp increase in demand

Question 13

Seasonal production

Answer 13

Where all the output from production is released at a particular time of the year

Question 14

Bonded warehouse

Answer 14

A warehouse used to store imports in order to delay the payment of customs and excise duties

Question 15

Customs and excise duties

Answer 15

Taxes on imports

Question 16

Shelf life

Answer 16

The length of time that a product can be made available for purchase

Question 17

Marketing mix

Answer 17

Elements of a firm’s marketing that are designed to meet the needs of customers

Question 18

Above-the-line promotion

Answer 18

Promoting using media and self adverts

Question 19

Below-the-line promotion

Answer 19

Promoting without using media

Question 20

Merchandising

Answer 20

Promotion specially at the point of sale of a product

Question 21

Persuasive advertising

Answer 21

Advertising where adverts put pressure on consumers to buy a product

Question 22

Informative advertising

Answer 22

Advertising where adverts put factual information about a product to encourage them to buy it

Question 23

Competitive advertising

Answer 23

Advertising where a company tries to compare their product with a product similar to theirs and try to make their product look better.

Question 24

Collective advertising

Answer 24

Advertising where a group of firms get together to meet the cost of an advert designed to promote a product in general

Question 25

Green marketing

Answer 25

Where a business emphaises how environmentally friendly their product and practice it is

Question 26

Affiliate marketing

Answer 26

Where an online retailer pays commission to an external website for traffic or sales generated from its referrals

Question 27

E-newsletter

Answer 27

Documents sent to customers electronically which contain a range of content

Question 28

Viral advertising

Answer 28

A technique used by businesses to encourage internet users to forward its publicity material all over the internet.

Question 29

Credit Transaction

Answer 29

A transaction where goods are sold but payment is received at a later date

Question 30

Enquiry

Answer 30

A letter sent to a supplier to find out what the supplier has to offer

Question 31

Quotation

Answer 31

A response to a letter of enquiry from a supplier quoting the price and other details of the goods that the supplier is able to offer.

Question 32

Order

Answer 32

A document requesting specific goods to be delivered

Question 33

Advice note

Answer 33

A document from a supplier saying when the goods are going to delivered

Question 34

Delivery note

Answer 34

The document that describes the goods that have been delivered by the supplier

Question 35

Goods received note

Answer 35

A copy of the delivery note that has bee signed by the customer to confirm that the correct goods have been delivered

Question 36

Invoice

Answer 36

A business document that contains details about the exchange of goods between a buyer and a seller

Question 37

Debit note

Answer 37

A document used to inform a customer that they have been undercharged stating amount outstanding and the reason for the undercharging

Question 38

Statement of account

Answer 38

A document sent to a customer showing a summary of recent transactions and the total amount outstanding.

Question 39

Auditing

Answer 39

Checking if transactions are accurate

Question 40

Credit sale

Answer 40

It involves consumers buying goods at the cash price and paying for over a period of time through instalments

Question 41

Finance house

Answer 41

A specialist financial institution that provides funds for HP agreements

Question 42

Store cards

Answer 42

They are like credit cards but issued by large stores and chains

Question 43

Informal credit

Answer 43

Where a vendor allows customers to buy goods and pay for them at the end of the week or month

Question 44

Credit guarantee

Answer 44

Provides businesses with protection against financial losses

Question 45

Consul

Answer 45

A group of representatives from your country who will be able to provide assistance to people from your country who have a problem while travelling overseas

Question 46

World trade organisation (WTO)

Answer 46

An international organisation that promotes free trade by persuading countries to abolish tariffs and other barriers

Question 47

Trade liberalisation

Answer 47

The move towards greater free trade through the removal of trade barriers

Question 48

Oversea agents

Answer 48

Acts on behalf of exporters in foreign markets by introducing them to customers and helping to facilitate international trade transactions