Deck #7 - Business Terms

Question 1

product portfolio (n)

Answer 1

all of a company’s products considered as a group

Question 2

profit and loss account (n)

Answer 2

a financial document showing the amount of money earned and spent in a particular period of time by a computer. This is usually called the income statement in American English.

Question 3

promotion (n)

Answer 3

a move to a more important job or rank in a company or organization; also sales promotion an activity such as special advertisements or free gifts intended to sell a product or service

Question 4

protectionism (n)

Answer 4

the idea that a government should try to help an industry in its country by taxing foreign goods that compete with it, limiting the number that can be imported etc and the actions that it takes to do this

Question 5

prototype (n)

Answer 5

the first form that a new design of a car machine etc has

Question 6

public limited company (n)

Answer 6

a limited company whose shares are freely sold and traded; in Britain public limited companies have the letters PLC after their name

Question 7

qualification (n)

Answer 7

an examination that you have passed at school, university, or in your profession; a skill, personal quality, or type of experience that makes you suitable for a particular job

Question 8

quality circle (n)

Answer 8

a small group of employees who meet regularly to discuss ways to improve working methods and to solve problems

Question 9

quota (n)

Answer 9

an official limit on the number or amount of something that is allowed in a particular period

Question 10

R and D (n)

Answer 10

research and development; the part of a business concerned with studying new ideas and developing new products

Question 11

rationalize (v)

Answer 11

to make a business or organization more effective by getting rid of unnecessary staff, equipment etc or reorganizing its structure

Question 12

real estate (n)

Answer 12

land or buildings and the business of buying and selling them

Question 13

recall (v)

Answer 13

if a company recalls one of its products, it asks customers to return it because there may be something wrong with it; to remember something that you have seen or heard, such as an advertisement

Question 14

receipt (n)

Answer 14

the act of receiving something; a document given by someone, showing that they have received money, goods, or services

Question 15

recession (n)

Answer 15

a period of time when an economy or industry is doing badly and business activity and employment decrease. Many economists consider that there is a recession when industrial production falls for six months in a row

Question 16

recover (v)

Answer 16

to increase or improve after falling in value or getting worse; to get back money that you have spent or lost; to get back something that was stolen, lost, or almost destroyed

Question 17

recovery (n)

Answer 17

when prices increase, or when the economy grows again after a period of difficulty; the act of getting something back, such as money that you are owed

Question 18

recruit (v)

Answer 18

to find new people to work for an organization , do a job etc

Question 19

recruit (n)

Answer 19

someone who has recently joined a company or organization

Question 20

recruitment (n)

Answer 20

the process or the business of recruiting new people; an occasion when someone is recruited

Question 21

redundancy (n)

Answer 21

when someone loses their job in a company because the job is no longer needed; a person who has lost their job in a company because the job is no longer needed

Question 22

redundant (adj)

Answer 22

if you are redundant or made redundant, you employer no longer has a job for you

Question 23

reference (n)

Answer 23

a letter written by someone who knows you well, usually to a new employer, giving information about your character, abilities or qualifications; a person who provides information about your character, abilities, or qualifications when you are trying to get a job

Question 24

reliable (adj)

Answer 24

someone or something that is reliable can be trusted or depended on

Question 25

relocate (v)

Answer 25

if a company or workers relocate or are relocated, they move to a different place

Question 26

resign (v)

Answer 26

to officially leave a job, position etc usually through your own choice, rather than being told to leave

Question 27

resource (natural resource) (n)

Answer 27

something such as oil, land, or natural energy that exists in a country and can be used to increase its wealth

Question 28

restriction (n)

Answer 28

an official rule that limits or controls what people can do or what is allowed to happen

Question 29

retailer (n)

Answer 29

a business that sells goods to members of the public, rather than to shops etc; someone who owns or runs a shop selling goods to members of the public

Question 30

retail outlet (n)

Answer 30

a shop through which products are sold to the public