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Business > Chapters 4-11 > Flashcards

Chapters 4-11 Flashcards

1
Q

Venture capitalists

A

Specialist investors (individuals or companies) who provide money for business purposes, often to new businesses.

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2
Q

Limited companies

A

Business orgnisations that have a separate legal identity from that of their owners.

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3
Q

Limited liability

A

Shareholders are legally responsible for the debts of a company according to how many shares they own.

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4
Q

Chairperson

A

Someone who is in charge of a meeting or directs te work of a committee or organisation.

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5
Q

Certificate of Incorporation

A

Document needed before a new company can start doing business.

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6
Q

Private Limited Company (Ltd)

A

A private company who is limited by it’s shares, which means that the liability of the shareholders is limited to the capital originally invested and a shareholder’s personal assets are protected. Has Ltd as it’s abreviation.

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7
Q

Stock Market

A

Market for shares in PLCs.

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8
Q

Public Limited Company (Plc)

A

A company whose shares are freely sold and traded, they’ve got a minimum share capital of 50,000 pounds and the letters Plc after it’s name.

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9
Q

Prospectus

A

Document produced by a company that wants the public to buy its shares.

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10
Q

Regulatory Control

A

Official power to control an activity and to make sure that it is done in a satisfactory way.

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11
Q

Flotation

A

Process of a company ‘going public’.

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12
Q

Multinational Company

A

Large business with significant production or service operations in at least two different countries.

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13
Q

Issue (shares)

A

Sale of new shares.

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14
Q

Productivity

A

Rate at which goods are produced, and the amount produced, especially in relation to work, time and money needed to produce them.

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15
Q

Portfolio

A

Collection (of business interests or products)

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16
Q

Infrastructure

A

Basic systems and structures that a country or organisation needs in order to work properly.

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17
Q

Primary sector/industry

A

Production involving the extraction of raw materials from the earth.

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18
Q

Secondary sector/industry

A

Production involving the conversion of raw materials into finished and semi-finished goods.

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19
Q

Assembly plant

A

Factory where parts are put together to make a finished product.

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20
Q

Tertiary sector/industry

A

Production of services in the economy.

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21
Q

De-Indrustrialisation

A

Decline in manufacturing

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22
Q

Brownfield sites

A

Areas of land that were once used for urban development.

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23
Q

Greenfield sites

A

Previously undeveloped areas of land, usually on the outskirts of towns and cities.

24
Q

Globalisation

A

Growing integration of the world’s economies.

25
Q

Assisted areas

A

Areas that are designated by a government as having economic problems and are targeted to receive support in a variety of forms.

26
Q

Viability studies

A

Careful study of how a planned activity will work, how much it will cost and what income it is likely to produce.

27
Q

Trade bloc

A

Group of countries situated in the same region that join together and enjoy trade free of barriers.

28
Q

Emerging economies

A

Rapidly growing economies, emerging economies have huge growth potential but also pose significant risks. Eg, Brasil

29
Q

Intellectual property

A

People’s knowledge or creative ideas that have commercial value and are protectable under different forms of copyright.

30
Q

Monetary system

A

System of money in a particular country or the world as a whole, and the way that it is controlled by governments and central banks.

31
Q

Saturate (market)

A

To offer so much of a product for sale that there is more than people want to buy.

32
Q

Predator

A

Business that tries to use another’s weakness to get advantages.

33
Q

Hostile takeover

A

Takeover that the company being taken over does not want or agree to.

34
Q

Bid

A

Offer to pay a particular price for something. Eg, a business.

35
Q

Commodities

A

Products that are bought and sold (in business often refers to things like oil, gold, iron ore, rice wheat and meat)

36
Q

Patents

A

Legal documents giving a person or company the right to make or sell a new invention, product, or method of doing something and stating that no other person or company is allowed to do this.

37
Q

Ventures

A

New business activity that involves taking risks.

38
Q

Currency reserves

A

Money in foreign currency held by a country and used to support its own currency and to pay for imports and foreign debts.

39
Q

Human capital

A

People and their skills

40
Q

Enterprise

A

The activity of starting and running businesses.

41
Q

Exploitation

A

Situation in which you treat someone unfairly by asking them to do things for you, but give very little in return.

42
Q

Repatriation (of profit)

A

Where a multinational returns the profits from an overseas venture to the country where it is based, typically from a developing country to a developed country (not often the other way around).

43
Q

Livelihood

A

Way you earn money in order to live.

44
Q

Surplus

A

Amount of something that is more than that is needed or used.

45
Q

Exports

A

Goods and services sold overseas.

46
Q

Visible Trade

A

Trade in physical goods.

47
Q

Invisible Trade

A

Trade in services.

48
Q

Balance of trade (or visible balance)

A

Difference between visible exports and visible imports.

49
Q

Transactions

A

Business deals or actions such as buying or selling something.

50
Q

Exchange rate

A

Value of one currency in terms of another.

51
Q

Commission

A

Extra amount of money that is paid to a person or organisation according to the value of the goods they have sold or the services they have provided.

52
Q

Public corporation

A

Business organisations owned and controlled by the state/government.

53
Q

Natural monopoly

A

Market where it is more efficient to have just one organisation meeting total market demand.

54
Q

Subsidise

A

Paying part of the costs (often by the government in business).

55
Q

Privatisation

A

Transfer of public sector resources to the private sector (business).

56
Q

Imports

A

Goods and services bought from overseas.

Business (8 decks)

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