Business Vocab 2 Flashcards
Commision
A payment to a salesperson for each sales made
Competitive pricing
Making pricing decisions based on the price set by the competitors
Computer aided design (CAD)
Use of computer programmmes to create two or three dimensional
Computer aided manufacturing (CAM)
Use of computer to control machienary
Consumer goods
The physical and tengible goods sold to consumers
Consumer services
Non-tengible products sold to consumers that are not intended for resale
Contribution cost pricing
Setting prices based on the variable costs of making a product in order to make contribution towards fixed costs and profit
Contribution per unit
The price of product less than the variable cost of producing it
Cooperative
A jointly owned business operated by members for their mutual benefits
Core competence
An important business capability that gives a firm competitive advantage
Corporate objectives
Well defined and realistic goals that are set for the whole company
Corporate planning
The process used by companies to set long term plans to meet certain objectives
Cost of sales
The direct cost of the goods that were sold during the financial year
Crowd funding
Use of small amounts of capital from a large number of individuals
Current assets
Assets that are cash are going to be turned into cash
