RETHINKING BUSINESS CH. 4

Question 1

clothes of a particular type when they are being sold in a shop

Answer 1

apparel

Question 2

to form the total of something

Answer 2

account for

Question 3

the total value of goods and services produced by a country in one year

Answer 3

Gross Domestic Product

Question 4

the activity of selling goods to the public, usually in shops

Answer 4

retail

Question 5

If you express an amount …, you mean that amount for each person

Answer 5

per capita

Question 6

next to, or together with

Answer 6

alongside

Question 7

someone in a high position, especially in business, who makes decisions and puts them into action

Answer 7

executive

Question 8

the first sale of a company’s shares to the public

Answer 8

initial public offering

Question 9

to give something, especially money, in order to provide or achieve something together with other people

Answer 9

contribute

Question 10

to be extremely good at something

Answer 10

excel

Question 11

a quality that marks someone or something as special and worth respect and admiration:

Answer 11

cachet

Question 12

to call someone in order to attract their attention

Answer 12

hail

Question 13

to come from or to have been born in a particular place

Answer 13

hail from somewhere

Question 14

containing or having experience of people and things from many different parts of the world

Answer 14

cosmopolitan

Question 15

a situation in which there are no goods of a particular kind available for sale

Answer 15

stockout

Question 16

the amount or number of something, especially that can be measured

Answer 16

quantity

Question 17

goods that are bought and sold

Answer 17

merchandise

Question 18

(of a place or area) where a lot of people pass through or where people pass through very often

Answer 18

high-traffic

Question 19

If a company …, it pays to have part of its work done by another company

Answer 19

outsource

Question 20

the time between the design of a product and its production, or between ordering a product and receiving it

Answer 20

lead time

Question 21

a group of things or people dealt with at the same time or considered similar in type

Answer 21

batch

Question 22

the reduction of production costs that is a result of making and selling goods in large quantities, for example, the ability to buy large amounts of materials at reduced prices

Answer 22

economies of scale

Question 23

to reach a particular amount as an average

Answer 23

average (verb)

Question 24

a hollow container into which you pour a soft or liquid substance so that it will cool or harden into the shape of the container

Answer 24

mold

Question 25

very regularly, or at exactly the planned times

Answer 25

like clockwork

Question 26

to gradually become more successful

Answer 26

go from strength to strength

Question 27

intended for people who want very good quality products and who do not mind how much they cost

Answer 27

high-end

Question 28

showing understanding, acting in a positive way, and not following old-fashioned or false beliefs

Answer 28

enlightened

Question 29

someone who does skilled work with their hands

Answer 29

artisan

Question 30

An … adjective, place name, etc. is one that comes from the name of a person

Answer 30

eponymous