Deck #6 - Business Terms

Question 1

market leader (n)

Answer 1

an organization or product that has the highest sales, or one of the highest sales, in its market or industry

Question 2

market nicher (n)

Answer 2

a product or service sold in a niche market (a market for a product or service, perhaps an expensive or unusual one, that does not have many buyers) or the company that sells it

Question 3

merchandise (n)

Answer 3

goods that are produced in order to be sold, especially goods that are sold in a store

Question 4

merge (v)

Answer 4

if two or more companies, organizations etc merge, or if they are merged, they join together

Question 5

merger (n)

Answer 5

an occasion when two or more companies, organizations etc join together to form a larger company etc

Question 6

middleman (n)

Answer 6

a person, business, organization etc that boys things in order to sell them to someone else, or that helps to arrange business deals for other people

Question 7

mission statement (n)

Answer 7

a short written statement made by an organization, intended to communicate its aims to customers, employees, shareholders etc

Question 8

model (n)

Answer 8

a particular type or design of a vehicle or machine; a simple description or structure that is used to help people understand similar systems or structures; the way in which something is done by a particular country, person etc that can be copied by others who want similar results

Question 9

morale (n)

Answer 9

the level of confidence and positive feelings among a group of people who work together

Question 10

motivate (v)

Answer 10

to encourage someone and make them want to achieve something and be willing to work hard in order to do it; to provide the reason why someone does something

Question 11

motivated (adj)

Answer 11

very keen to do something or achieve something, especially because you find it interesting or exciting

Question 12

motivation (n)

Answer 12

eagerness and willingness to do something without needing to be told or forced to do it; the reason why you want to do something

Question 13

nepotism (n)

Answer 13

the practice of giving jobs to members of your family when you are in a position of power

Question 14

niche market (n)

Answer 14

a market for a product or service, perhaps an expensive or unusual one that does not have many buyers but that may be profitable for companies who sell it

Question 15

open-plan office (n)

Answer 15

open-plan offices do not have walls dividing them into separate rooms

Question 16

optimize (v)

Answer 16

to make the best possible use of something or to do something in the best possible way

Question 17

overtime (n)

Answer 17

time that you spend working in your job in addition to your normal working hours; time that a factory, office etc is operating in addition to its normal hours; the money that you are paid for working more hours than usual

Question 18

partner (n)

Answer 18

a company that works with another company in a particular activity, or invests in the same activity; someone who starts a new business with someone else by investing in it; a member of certain types of business or professional groups, for example partnerships of lawyers, architects etc

Question 19

economic partner (also trade partner)

Answer 19

a country that invests in another or is invested in by another, or that trades with another

Question 20

partnership (n)

Answer 20

a relationship between two people, organizations or countries that work together; the situation of working together in business; a business organization made up of a group of accountants, lawyers etc who work together, or of a group of investors

Question 21

patent (n)

Answer 21

an legal document 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

Question 22

patent (v)

Answer 22

to obtain a patent, protecting the rights to make or sell a new invention, product or method of doing something patented

Question 23

peak (n)

Answer 23

the time when prices, shares etc have reached their highest point or level

Question 24

peak (adj)

Answer 24

the highest level, etc something reaches

Question 25

peak (v)

Answer 25

to reach the highest point or level

Question 26

phone rage

Answer 26

angry behaviour on the telephone by people who are not satisfied with the service they are receiving etc

Question 27

pioneer (n)

Answer 27

the first person or organization to do something that other people and organizations will later develop or continue to do

Question 28

plummet (v)

Answer 28

to suddenly and quickly go down in value or amount

Question 29

point-of-sale advertising (n)

Answer 29

advertising for a product in places where it is sold

Question 30

prime time (n)

Answer 30

the time in the evening when most people are watching television, and the cost of advertising is at its most expensive