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Business Management II > Business Management II Vocabulary P-R > Flashcards

Business Management II Vocabulary P-R Flashcards

1
Q

A check issued to an employee in payment of salary or wages

A

Paper Check

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2
Q

A distinctive division between one idea and another

A

Paragraph

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3
Q

An organization that consists of more than one owner

A

Partnership - An organization that consists of more than one owner

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4
Q

Information that is imperative for processing

A

Parts of a check

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5
Q

A recurring period of time over which an employee’s time is recorded and wages are calculated

A

Pay Period

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6
Q

A check issued to an employee in payment of salary or wages

A

Paycheck

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7
Q

An attachment to the actual check that helps you keep record of what you were paid for and what deductions were taken out

A

Paycheck Stub

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8
Q

Bankcard that accesses an employee’s salary or wages through withdrawals at automated teller machines

A

Payroll card

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9
Q

The height point within the business cycle characterized by the end of economic expansion and the beginning of contraction

A

Peak

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10
Q

To succeed in convincing somebody to do something, especially by reasoning, pleading, or coaxing

A

Persuade

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11
Q

Having the right product, in the right location, at the right time to be purchased by consumers

A

Place

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12
Q

Setting goals and developing methods to meet those goals

A

Planning

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13
Q

A document outlining the terms and conditions between an individual and an insurer specifying the conditions of the insurance contract

A

Policy

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14
Q

A consumer who purchases the policy

A

Policyholder

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15
Q

A message sent to an email list

A

Post

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16
Q

The way in which somebody holds his or her body, especially when standing

A

Posture

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17
Q

The amount you pay for an insurance policy

A

Premium

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18
Q

The amount of money that consumers are willing to pay for a product or service

A

Price

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19
Q

A limit on how low a price can be charged for a product or service

A

Price Floors

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20
Q

Prevent the price from rising too high

A

Price Ceilings

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21
Q

A normalized average that shows how prices of a class of goods or services in a specific area changes over time

A

Price Index

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22
Q

How much to charge for goods and services in order to maximize profits

A

Pricing

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23
Q

The amount of money you deposit in your account to begin saving

A

Principle

24
Q

The initial size of a loan upon which interest is calculated

A

Principal Loan Amount

25
Q

The steps to letting go or firing an employee

A

Process of Dismissal

26
Q

A product is any combination of goods and services offered to satisfy the needs and wants of consumers

A

Product

27
Q

A marketing function that accounts for market opportunities by adjusting, maintaining, and improving a product or service mix

A

Product Service Management

28
Q

Targeting customers who have expressed interest in a certain product through pricing, promotion, and distribution strategies

A

Product-based Marketing

29
Q

A curve that illustrated production of multiple products with the same building resources

A

Production Possibilities Curve

30
Q

The effectiveness of effort as measured in economic terms by the rate of output per unit of input

A

Productivity

31
Q

Organizations which provide services such as professional development and research to members, usually individuals engaged in a specific field

A

Professional Association

32
Q

The advancement of skills or expertise to succeed in a particular profession, esp. through continued education

A

Professional Development

33
Q

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

A

Professional Login Name

34
Q

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

A

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

35
Q

The difference between total revenue and total expenses

A

The difference between total revenue and total expenses

36
Q

The act of publicizing a product or service to potential customers in order to inform, persuade, or remind them to make a purchase

A

Promotion

37
Q

Economic well-being thanks to opportunities for growth and expansion in the economy

A

Prosperity

38
Q

Dividing groups of a market based on psychological characteristics including consumption habits, lifestyles, or preferences

A

Psychographic segmentation

39
Q

The ability to purchase goods and services

A

Purchasing power

40
Q

The goal or intended outcome of something

A

Purpose

41
Q

The net gain or loss of an investment as expressed as a percentage for a specific period of time

A

Rate of Return

42
Q

Real estate is land. Most of the time, the ownership of land includes ownership of the buildings and resources located on that land

A

Real Estate

43
Q

A prolonged economic contraction

A

Recession

44
Q

A phase of the business cycle characterized by an extreme decrease in the economy

A

Recession

45
Q

A phase of the business cycle characterized by an increase in the economy after a significant decrease

A

Recovery

46
Q

The efforts an organization goes through to attract appropriate applicants current or future positions

A

Recruit

47
Q

The attraction of a particular occupation to a favored pool of candidates or potential candidates

A

Recruitment

48
Q

Coverage available for individuals renting or subletting property that covers loss of belongings, and occasionally living expenses

A

Renter’s Insurance

49
Q

An injury caused by repeated movements

A

Repetitive Strain Injury (RSI)

50
Q

the supply of an asset that has utility and from which a benefit can be produced

A

Resources

51
Q

A financial planning mechanism allowing individuals to save for retirement, a variety of types of plans exists with different limits and benefits

A

Retirement Plan

52
Q

The money gained through investment or profit

A

Return

53
Q

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

A

Revenue

54
Q

The possibility of financial loss or something unpleasant or unwelcome regarding the outcome of a situation or event

A

Risk

55
Q

Risk Management how to best handle such exposure

A

Risk Management

56
Q

A document used to prepare an organization for potential future risks in order to estimate the impact and identify possible responses

A

Risk Management Plan

57
Q

Extent to which a decision-maker is willing to speculate when making a decision

A

Risk Propensity

Business Management II (6 decks)

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