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Gr 10 business > Terms > Flashcards

Terms Flashcards

1
Q

revenue

A

income coming into business

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2
Q

expenses

A

payments involved in running business

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3
Q

profit

A

revenue- expenses

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4
Q

shortage

A

when demand exceeds supply

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5
Q

surplus

A

when supply exceeds demand

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6
Q

obsolete

A

no longer produced

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7
Q

limited liability

A

personal finances is separate from business finances

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8
Q

unlimited liabilty

A

personal finances and business finances have no barrier. they are one and the same.

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9
Q

dividends

A

the money given to shareholders by companies based on the profits.

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10
Q

stock

A

the asset of the business that you can invest into

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11
Q

share

A

a portion of the stock that you can invest into

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12
Q

bonds

A

loan from you to company

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13
Q

liabilities

A

something you owe. a debt

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14
Q
A
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15
Q

liquidity

A

how quickly something can be turned into cash

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16
Q

asset

A

something you have that has value

17
Q

interest

A

the extra money put on on top of the money due. extra charge

18
Q

entrepreneur

A

person who starts a business

19
Q

innovation

A

a new idea/ method/ product. improving existing product

20
Q

embezzelment

A

theft of money when is put in your possession in trust

21
Q

CSR

A

Corporate Social Responsibility. The responsibility a business has to customers, investors, employees

22
Q

retention

A

steps you take to keep your employees

23
Q

straight commission

A

you get payed based on the sales you make

24
Q

free market

A

price is determined by supply / demand

25
Q

voluntary exchange

A

2 ppl trade goods freely

Gr 10 business (1 decks)

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