Vocabulary

Question 1

Consignor

Answer 1

A consignor is an entity that sends out goods to a customer or an agent

Question 2

Layman’s terms

Answer 2

A mode of writing or speaking the English language to simplify a given topic regardless of one’s familiarity

Question 3

Landfill

Answer 3

A site for the disposal of waste materials

Question 4

Legislation

Answer 4

An Act of Parliament passes into law through the joint efforts of the government (the monarch and the ministers) and both Houses of Parliament

Question 5

Linear economy

Answer 5

A system in which people buy a product, use it, and then throw it away

Question 6

Market segmentation

Answer 6

The practice of dividing your target market into approachable groups

Question 7

Planned obsolescence

Answer 7

The practice of designing products to break quickly or become obsolete in the short to mid-term

Question 8

Precious metals

Answer 8

Gold, silver, platinum, palladium, rhodium, ruthenium, iridium, and osmium

Question 9

Product life cycle

Answer 9

The length of time from a product first being introduced to consumers until it is removed from the market

Question 10

Salvage

Answer 10

The act of saving goods from damage or destruction

Question 11

Self-healing plastic

Answer 11

A plastic in which damages are self-plugged by the release of special adhesive which is located in the plastic

Question 12

Validity

Answer 12

Refers to how accurately a method measures what it is intended to measure

Question 13

Waste stream

Answer 13

The flow of waste from its source to its end

Question 14

Yield

Answer 14

To supply or produce something positive such as a profit, an amount of food or information

Question 15

Fragmented

Answer 15

Break or cause to break into fragments

Question 16

Mainstay

Answer 16

A person or thing on which something else is based or depends

Question 17

Business landscape

Answer 17

Encompasses the external and internal factors that affect a company’s operations, including market dynamics, competition, customer expectations, and regulatory environments

Question 18

Novel (adjective)

Answer 18

New & original

Question 19

Modular

Answer 19

Constructed with standardized units or dimensions for flexibility and variety in use

Question 20

Established company

Answer 20

One that has obtained a reputation for a specific product, service, process, or platform

Question 21

Plough money into

Answer 21

Invest money into

Question 22

Buzz word

Answer 22

An important-sounding usually technical word or phrase often of little meaning used chiefly to impress laymen

Question 23

Cash cow

Answer 23

A consistently profitable business, property, or product whose profits are used to finance a company’s investments in other areas

Question 24

Persuade

Answer 24

Induce (someone) to do something through reasoning or argument

Question 25

Point-of-sale displays

Answer 25

Printed promotional materials situated near the point of sale where transactions are completed in a retail establishment

Question 26

The pull strategy

Answer 26

A marketing and promotional strategy that relies on the customer to ‘pull’ the product from the marketer by creating demand

Question 27

Corporate image

Answer 27

public image / brand image

Question 28

Eco-resort

Answer 28

A tourist resort whose facilities are intended to have a minimal impact on the local environment

Question 29

Trade fair

Answer 29

A large gathering in which different companies in a particular field or industry show their products to possible customers

Question 30

Obsolescence

Answer 30

The process or fact of becoming old-fashioned and no longer useful

Question 31

Outset

Answer 31

The start or beginning of something