Vocabulary Flashcards
Consignor
A consignor is an entity that sends out goods to a customer or an agent
Layman’s terms
A mode of writing or speaking the English language to simplify a given topic regardless of one’s familiarity
Landfill
A site for the disposal of waste materials
Legislation
An Act of Parliament passes into law through the joint efforts of the government (the monarch and the ministers) and both Houses of Parliament
Linear economy
A system in which people buy a product, use it, and then throw it away
Market segmentation
The practice of dividing your target market into approachable groups
Planned obsolescence
The practice of designing products to break quickly or become obsolete in the short to mid-term
Precious metals
Gold, silver, platinum, palladium, rhodium, ruthenium, iridium, and osmium
Product life cycle
The length of time from a product first being introduced to consumers until it is removed from the market
Salvage
The act of saving goods from damage or destruction
Self-healing plastic
A plastic in which damages are self-plugged by the release of special adhesive which is located in the plastic
Validity
Refers to how accurately a method measures what it is intended to measure
Waste stream
The flow of waste from its source to its end
Yield
To supply or produce something positive such as a profit, an amount of food or information
Fragmented
Break or cause to break into fragments
Mainstay
A person or thing on which something else is based or depends
Business landscape
Encompasses the external and internal factors that affect a company’s operations, including market dynamics, competition, customer expectations, and regulatory environments
Novel (adjective)
New & original
Modular
Constructed with standardized units or dimensions for flexibility and variety in use
Established company
One that has obtained a reputation for a specific product, service, process, or platform
Plough money into
Invest money into
Buzz word
An important-sounding usually technical word or phrase often of little meaning used chiefly to impress laymen
Cash cow
A consistently profitable business, property, or product whose profits are used to finance a company’s investments in other areas
Persuade
Induce (someone) to do something through reasoning or argument
