Keywords

Question 1

Define de-industrialization

Answer 1

a country is moving from the secondary sector to tertiary sector

Question 2

Define acquisition

Answer 2

one firm buys another firm

Question 3

Define fringe benefits

Answer 3

Compensation in addition to direct wages or salaries(company car)

Question 4

Define penetration pricing

Answer 4

When the price is set lower than its competitor’s price in order to enter a new market

Question 5

Define cost plus pricing

Answer 5

Cost of manufacturing the product and profit mark up

Question 6

Define price elasticity

Answer 6

How consumers react to price for goods and services

Question 7

Define balanced sheed

Answer 7

a condensed statement that shows the financial statement of an company on a specific date

Question 8

Define current assets

Answer 8

Business holds temporarily or that always changing

Question 9

Define current liabilities

Answer 9

Short term and always changing, money that the business owes

Question 10

Define variable cost

Answer 10

A cost that varies in step with the output or the sales revenue of a company