Business Management II Vocabulary P-R Flashcards
A check issued to an employee in payment of salary or wages
Paper Check
A distinctive division between one idea and another
Paragraph
An organization that consists of more than one owner
Partnership - An organization that consists of more than one owner
Information that is imperative for processing
Parts of a check
A recurring period of time over which an employee’s time is recorded and wages are calculated
Pay Period
A check issued to an employee in payment of salary or wages
Paycheck
An attachment to the actual check that helps you keep record of what you were paid for and what deductions were taken out
Paycheck Stub
Bankcard that accesses an employee’s salary or wages through withdrawals at automated teller machines
Payroll card
The height point within the business cycle characterized by the end of economic expansion and the beginning of contraction
Peak
To succeed in convincing somebody to do something, especially by reasoning, pleading, or coaxing
Persuade
Having the right product, in the right location, at the right time to be purchased by consumers
Place
Setting goals and developing methods to meet those goals
Planning
A document outlining the terms and conditions between an individual and an insurer specifying the conditions of the insurance contract
Policy
A consumer who purchases the policy
Policyholder
A message sent to an email list
Post
The way in which somebody holds his or her body, especially when standing
Posture
The amount you pay for an insurance policy
Premium
The amount of money that consumers are willing to pay for a product or service
Price
A limit on how low a price can be charged for a product or service
Price Floors
Prevent the price from rising too high
Price Ceilings
A normalized average that shows how prices of a class of goods or services in a specific area changes over time
Price Index
How much to charge for goods and services in order to maximize profits
Pricing
The amount of money you deposit in your account to begin saving
Principle
The initial size of a loan upon which interest is calculated
Principal Loan Amount
The steps to letting go or firing an employee
Process of Dismissal
A product is any combination of goods and services offered to satisfy the needs and wants of consumers
Product
A marketing function that accounts for market opportunities by adjusting, maintaining, and improving a product or service mix
Product Service Management
Targeting customers who have expressed interest in a certain product through pricing, promotion, and distribution strategies
Product-based Marketing
A curve that illustrated production of multiple products with the same building resources
Production Possibilities Curve
The effectiveness of effort as measured in economic terms by the rate of output per unit of input
Productivity
Organizations which provide services such as professional development and research to members, usually individuals engaged in a specific field
Professional Association
The advancement of skills or expertise to succeed in a particular profession, esp. through continued education
Professional Development
A professional name suitable for a business environment which will generally include your first name or initials with your last name; should not refer to sports, hobbies, physical attributes, or personal preferences
Professional Login Name
The money a business has earned after the cost and expenses of operations are subtracted; the money earned from conducting business after all costs and expenses have been paid
The money a business has earned after the cost and expenses of operations are subtracted; the money earned from conducting business after all costs and expenses have been paid
The difference between total revenue and total expenses
The difference between total revenue and total expenses
The act of publicizing a product or service to potential customers in order to inform, persuade, or remind them to make a purchase
Promotion
Economic well-being thanks to opportunities for growth and expansion in the economy
Prosperity
Dividing groups of a market based on psychological characteristics including consumption habits, lifestyles, or preferences
Psychographic segmentation
The ability to purchase goods and services
Purchasing power
The goal or intended outcome of something
Purpose
The net gain or loss of an investment as expressed as a percentage for a specific period of time
Rate of Return
Real estate is land. Most of the time, the ownership of land includes ownership of the buildings and resources located on that land
Real Estate
A prolonged economic contraction
Recession
A phase of the business cycle characterized by an extreme decrease in the economy
Recession
A phase of the business cycle characterized by an increase in the economy after a significant decrease
Recovery
The efforts an organization goes through to attract appropriate applicants current or future positions
Recruit
The attraction of a particular occupation to a favored pool of candidates or potential candidates
Recruitment
Coverage available for individuals renting or subletting property that covers loss of belongings, and occasionally living expenses
Renter’s Insurance
An injury caused by repeated movements
Repetitive Strain Injury (RSI)
the supply of an asset that has utility and from which a benefit can be produced
Resources
A financial planning mechanism allowing individuals to save for retirement, a variety of types of plans exists with different limits and benefits
Retirement Plan
The money gained through investment or profit
Return
Amount earned from sales of goods or services and inflow from miscellaneous sources such as interest, rent, and royalties; income earned for the period, such as from the sales of goods and services
Revenue
The possibility of financial loss or something unpleasant or unwelcome regarding the outcome of a situation or event
Risk
Risk Management how to best handle such exposure
Risk Management
A document used to prepare an organization for potential future risks in order to estimate the impact and identify possible responses
Risk Management Plan
Extent to which a decision-maker is willing to speculate when making a decision
Risk Propensity
