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Business English > PBT > Flashcards

PBT Flashcards

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1
Q

Which banking products or services can you name?

A

Current account; a savings/ deposit account; cashpoints/ ATMs; a chequebook; a credit card; a debit card; a loan; a mortgage; an overdraft; investment advice; internet banking

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2
Q

What is the difference between a commercial bank and an investment bank?

A

A commercial bank: provides services to general public and small businesses.
An investment bank: a bank that deals with large businesses and that buys and sells securities such as shares.

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3
Q

What is subprime crisis?

A

A situation affecting the mortgage industry due to borrowers being approved for loans they could not afford.

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4
Q

What is credit crunch?

A

A money market situation when loans are hard to get.

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5
Q

What is microfinance?

A

A system of providing services such as lending money and saving for people who are too poor to use banks.

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6
Q

What is venture capital?

A

Money that is invested in a new company to help it develop, which may involve a lot of risk.

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7
Q

Name and explain the first element of a business plan.

A

Executive summary – a one-page summary or overview of what the business plan is about and what it will contain.

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8
Q

Name and explain the second element of a business plan.

A

Market opportunity – briefly describes what the company or business plans to do, the target market, its needs, current products and services and why they are inadequate, and how the new product or service fills the gap.

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9
Q

Name and explain the third element of a business plan.

A

Product or service – describes the features and the benefits for the customers, emphasising differences, improvements and innovations compared with other products or services on the market.

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10
Q

What is competitive advantage?

A

It is what an organization can do better than its competitors.

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11
Q

What is exit strategy?

A

It is an investor´s plan for getting their investment back and potentially realizing a profit.

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12
Q

According to the book, what are the two main ways governments can raise money?

A

Governments can raise taxes and issue bonds.

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13
Q

According to the book, what are the two main ways established companies can raise money?

A

Companies can issue both bonds and shares.

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14
Q

What are the advantages and disadvantages of bonds for companies?

A

Bonds are tax-deductible, but unlike share dividends, bond interest payments have to be made, and bonds have to be repaid.

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15
Q

What are the advantages and disadvantages of bonds for investors?

A

Bonds are safer than shares for investors, but they generally pay a lower return.

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16
Q

Which companies can issue stocks and shares? What is going public for the first time called?

A

Successful, well-established companies; IPO (flotation)

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17
Q

What is the difference between bull and bear market?

A

Bull market- a period during which most stocks are rising; Bear market- a period during which most stocks are falling

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18
Q

What is the difference between a nominal value of a share and a market price of a share?

A

Nominal value- a price written on a share; Market price-the price it is currently traded for.

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19
Q

Explain how hedge funds make money by shorting shares.

A

Shorting shares means borrowing shares from a fund or a company that isn´t planning to sell them in the short term, selling them, waiting for their price to fall, and then buying them back at a lower price and retuning them to their original owner.

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20
Q

What is the firm with the largest market share called?

A

Market leader

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21
Q

What is the firm with the second biggest market share called?

A

Market challenger

22
Q

What is a unique selling proposition?

A

Something that makes a product/ service different from any other products/ services, and which appeals to you.

23
Q

What is a niche in the market?

A

An opportunity to sell a particular product to a particular group of people.

24
Q

What are industrial clusters?

A

Groups of companies in the same industry that establish themselves in the same area.

25
Q

What is the difference between a takeover and an acquisition?

A

No difference.

26
Q

What is a merger?

A

The act of joining two or more organizations or businesses into one.

27
Q

What is a leveraged buyout?

A

The acquisition of another company using a significant amount of borrowed money (bonds or loans).

28
Q

When talking about takeovers, what is the difference between horizontal and vertical integration?

A

Horizontal integration means buying competitors in the same field of activity; vertical integration means buying companies involved in other parts of the supply chain

29
Q

When talking about takeovers, what is the difference between backward and forward integration?

A

Backward integration means buying suppliers of raw materials or components; forward integration means buying distributors or retailers

30
Q

When talking about takeovers, what is a raid?

A

A raid means buying a company´s stocks on the stock market.

31
Q

When talking about takeovers, what is a takeover bid?

A

A takeover bid means making an offer to company´s stockholders to buy their stocks.

32
Q

When talking about takeovers, what is asset-stripping?

A

Asset-stripping means buying a company in order to sell its profitable parts, or to close the company and sell its assets at profit

33
Q

What is a cartel?

A

A group of companies which agree on not to compete on price; price-fixing.

34
Q

What is the difference between a direct and an indirect tax?

A

Direct tax- a tax paid directly to the government by the person on whom it is imposed; Indirect tax- a tax collected from an intermediary than the person who would be normally responsible for the tax.

35
Q

What is the difference between tax avoidance and tax evasion?

A

Tax avoidance is legal whereas tax evasion is illegal.

36
Q

What is a tax haven?

A

Countries where taxes are low, where multinational companies often set up their head offices.

37
Q

What does a business cycle show?

A

It shows the growth and contraction of GDP; it shows upturns and downturns in the economy.

38
Q

What is creative destruction?

A

When innovations destroy established companies or industries

39
Q

What is consumption?

A

Purchasing and using goods and services

40
Q

What is monetary policy?

A

Government or central bank actions concerning the rate of growth of the money in circulation.

41
Q

What is fiscal policy?

A

Government actions concerning taxation and public expenditure.

42
Q

What is Keynesianism?

A

The economic theory that government monetary and fiscal policy should stimulate business activity and increase employment in a recession.

43
Q

Who are stakeholders; give some examples?

A

Group of people with a stake in or an interest in or a claim on the business.Customers, employees, suppliers, local community.

44
Q

Stakeholders can be divided into two different groups- what are they? Give an example in each group.

A

External (community, customers) and internal (employees) stakeholders.

45
Q

What is the difference between delayering and downsizing?

A

Delayering- removing unproductive parts of the management hierarchy to make organizations more flexible and efficient; Downsizing- decreasing the number of permanent employees working for an organization

46
Q

What is the difference between these two verbs: to appoint and to hire?

A

to appoint- to choose somebody for a senior position; to hire – to employ a large number of new staff

47
Q

What is the difference between these two expressions: to fire somebody and to make somebody redundant?

A

to fire – to be dismissed because the person has done something wrong; to make sb redundant – when members of staff are no longer necessary

48
Q

What does PPP stand for and what does it mean?

A

Purchasing power parity. The cost of a given selection of goods and services in different countries.

49
Q

What is the difference between revaluation and appreciation?

A

Revaluation – increasing of the value of a currency in a fixed system; Appreciation – rising in value in a market system

50
Q

What is the difference between devaluation and depreciation?

A

Devaluation – decreasing of the value of a currency in an fixed system; Depreciation – falling in value in a market system

51
Q

What is a Tobin Tax?

A

A very small tax on currency purchase and currency selling designed to reduce currency speculations.

Business English (1 decks)

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