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Business Vocab > Business Terms > Flashcards

Business Terms Flashcards

1
Q

Elastic

A

When a small change in price causes a significant change in the quantity demanded

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2
Q

Enterprise zone

A

specially designated areas of a community that provide tax benefits to new businesses locating there and grants for new product development

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3
Q

Enterprise

A

a company that is organized for commercial purposes

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4
Q

Commercial

A

of, relating to, or characteristic of commerce

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5
Q

Revenue

A

The gross amount of money generated by a business

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6
Q

Profit

A

Money left over after paying of liabilities

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7
Q

Net income

A

Same as profit, revenue - expenses

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8
Q

Bottom line

A

AKA profits, the bottom line is a company’s income after all expenses have been deducted from revenues

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9
Q

Top line

A

Total revenue, gross income before expenses are paid

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10
Q

Scarcity

A

When demand is greater than resources

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11
Q

Top line growth

A

The revenue is increasing

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12
Q

Bottom line growth

A

An increase in profits (revenue -expenses)

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13
Q

How could one increase bottom line growth?

A

Increase revenue, or decrease expenses

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14
Q

Sole proprietor

A

also known as a sole trader, is owned by one person and operates for their benefit

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15
Q

Partnership

A

a business owned by two or more people

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16
Q

Corporation

A

an independent legal entity owned by shareholders

17
Q

Is a cooperate tax rate lower or personal income tax rate lower?

A

Corporate tax rate, this is a benefit of becoming a corporation

18
Q

Is it easier or harder to generate capital when you are a corporation?

A

It is easier to raise capital because you can sell stock

19
Q

What does it mean when a corporation is double taxed?

A

A company is taxed when they make the profit, and then when they issue their dividends

20
Q

Interest

A

Interest is the charge for the privilege of borrowing money, typically expressed as annual percentage rate Read more: Interest Definition | Investopedia http://www.investopedia.com/terms/i/interest.asp#ixzz3wOflTaOy Follow us: Investopedia on Facebook

21
Q

Liability

A

A company’s legal debts or obligations

22
Q

Limited liability

A

If a business owner has “limited liability,” it means that he or she is not personally responsible for business debts and obligations of the corporation

23
Q

Manufacturing

A

is the production of merchandise for use or sale using labour and machines, tools, chemical and biological processing, or formulation

24
Q

Distribution

A

the process of making a product or service available for use or consumption by a consumer or business user

25
Q

Downsize

A

Reducing the size of a company by eliminating workers and/or divisions within the company

26
Q

Downsize

A

Reducing the size of a company by eliminating workers and/or divisions within the company

27
Q

Privately held company

A

close corporation is a business company owned either by non-governmental organizations or by a relatively small number of shareholders

28
Q

Does a privately held company offer shares of stock to the public?

A

No, they are not listed on the stock exchange rather the ownership/stock is exchanged privately

29
Q

Stock

A

Equity stake (ownership)

30
Q

Publicly traded / publicly held company

A

A corporation whose ownership is dispersed among the general public in the form of shares which is in turn traded through a stock exchange

31
Q

Inflation

A

A measure of price changes of goods or services. Since the 80’s, the inflation rate has been between 1-5% per year

32
Q

What is the US Federal Reserve (aka Fed) and what do they do?

A

Is the central bank of the US. It regulates and sets interest rates

33
Q

How does the federal reserve manipulate interest rates?

A

By influencing bond markets through its purchase of government bonds, this helps stabilize economic growth

34
Q

What happens to the economy when interest rates rise?

A

When interest rates rise, people are motivated to save more (rather than spend), and businesses become more hesitant to borrow money to invest in new innovation. As a result, economic growth slows.

35
Q

Venture capital firm

A

funds invest in companies in exchange for equity in the companies they invest in, which usually have a novel technology or business model in high technology industries, such as biotechnology and IT

36
Q

Venture capital

A

is money provided to seed early-stage, emerging and emerging growth companies

Business Vocab (6 decks)

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