Adding value A process through which a business increases the worth of the resources included in production so that customers perceive the … The Do’s and Don’ts of Business Writing & Vocabulary. 11/14/14 10:34 PM Business Law Chapter 8 and 10 flashcards | Quizlet Page 1 of 3 Ready to study? Activity Diagram. White-collar crime results in a greater monetary loss to society than violent street crime. Today’s business world runs on information, so … China, the worlds most densely populated country, has emerged as an important market and now boasts the world's third-largest economy, behind only the EU and USA. Consider these 21 accounting terms that every small business owner should know. Accounts receivable. resources used in the production of goods and services -- labor, capital, entrepreneurs, physical resources, and information resources. In a dynamic business environment, it is essential that entrepreneurs keep up to date with the latest business terms. difference between a business's revenues and its expenses. Learn the correct way of expressing yourself related to business. Learn vocabulary, terms, and more with flashcards, games, and other study tools. funds needed to create and operate a business enterprise, individual who accepts the risks and opportunities involved in creating and operating a new business, economy that relies on a centralized government to control all or most factors of production and to make all or most production and allocation decisions, political system in which the government owns and operates all factors of production, economy in which individuals control production and allocation decisions through supply and demand, mechanism for exchange between buyers and sellers of a particular good or service, system that sanctions the private ownership of the factors of productions and encourages entrepreneurship by offering profits as an incentive, process of converting government enterprises into privately owned companies, planned economic system in which the government owns and operates only selected major outsources of production, the willingness and ability of buyers to purchase a good or service, the willngness and ability of producers to offer a good or service for sale, economic system that allows individuals to pursue their own interests without undue governmental restriction, vying among business for the same resources or customers, market or industry characterized by numerous small firms producing an identical product, market or industry characterized by numerous buyers and relatively numerous sellers trying to differentiate their products from those of competitors, market or industry in which there is only one producer that can therefore set the prices of it products, industry in which one company can most efficiently supply all needed goods or services, the total quantity of goods and services produced by an economic system during a given period, total value of all goods and services produced within a given period by a national economy through domestic factors of production, total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located, gross domestic product (GDP) adjusted to account for changes in currency values and price changes, the principle that exchange rates are set so that the prices of similar products in different countries are about the same, occurs when widespread price increases occur throughout an economic system, the level of joblessness among people actively seeing work in an economic system, a period during which aggregate output, as measured by GDP, declines, beliefs about what is right or wrong and good or bad in actions that affect others, behavior conforming to generally accepted social norms concerning beneficial and harmful actions, behavior that does not conform to generally accepted social norms concerning beneficial and harmful actions, ethical or unethical behaviors by employees in the context of their jobs, standards of behavior that guide individual managers in their work. To start and run a business, you often need to understand business terms that may not be well defined in a standard dictionary. hybrid of a publicly held corporation and a partnership in which owners are taxed as a partners but enjoy the benefits of limited liabilty. employee who detects and tries to put an end to a company's unethical, illegal, or socially irresponsible actions by publicizing them. a nation's system for allocating its resources among its citizens. Client: … Also explore over 17 similar quizzes in this category. A comprehensive glossary of business analyst terms. This primer will walk you through the basic business terms in easy-to-understand ways. A business is an enterprise or entity that provides products or services to customers. All the activities involved in obtaining, preparing, and compensating the employees of a business, Enables a person to affect the actions of others, Ensure that appropriate standards of conduct are maintained by everyone who is part of the business and with anyone affected by the business. First on the list of financial terms, assets are the economic resources a business has. Start studying Business terms. illegal practice of using special knowledge about a firm for profit or gain, government agency charged with assisting small business. Traits You Need for a Career in Business Administration. lead strategy Collecting foreign currency receivables early when a foreign currency is expected to depreciate, and paying ... changes in a country’s business environment that adversely affect the profit and other goals of a particular business enterprise. Start studying Business 101 Terms. Accounting This concept should be […] Business is doing commerciallyviable and profitable work. A business: A legally recognized organization or enterprise that operates with the objective of earning a profitfrom the sale of goods or services Alliance: Close association of groups or businesses Business: The activity in which you participate in order to earn money (i.e. the most basic form of ownership, including voting rights on major issues, in a company, payment to shareholders, on a per-share basis, out of the company's earnings, illegal practice of using a special knowledge about a firm for profit or gain, stocks, bonds, and mutual funds representing secured, or asset-based, claims by investors against issuers, markets in which stocks and bonds are sold. The business judgment rule acknowledges that the daily operation of a business, as well as its long-term strategy, requires making controversial decisions or … Terms from the College Business Book: "Understanding Business Tenth Edition" by Nickels, McHugh, and McHugh Business administration involves running the day-to-day operations of an organization. Accounts receivable includes money owed by customers as payment for goods or services. Clearly defined business terms help standardization and communication within a company. the various appliances and devices for creating, storing, exchanging and using information in diverse modes, including visual images, voice, multimedia, and business data. Commerce is buying and selling products or services. For use in CBS's pre-MBA program. documents in which an entrepreneur summarizes her or his business strategy for a proposed new venture and how that strategy will be implemented, arrangement in which a buyer (franchisee) purchases the right to sell the good or service of the seller (franchiser), group of small investors who invest money in companies with rapid growth potential, business owned and usually operated by one person who is responsible for all its debts, legal principle holding owners responsible for paying off all debts of a business, business with two or more owners who share in both the operation of the firm and the financial responsibility of its debts, type of partnership consisting of limited partners and a general (or active) partner. 11/14/14 10:21 PM Business Law - Chapter 13 flashcards | Quizlet Page 1 of 9 Ready to study? Listed below are 50 key terms that AQA BUSS1 students need to ensure they understand and can define / explain in the exam. legal principle holding investors liable for a firm's debts only to the limits of their personal investments in it, corporation whose stock is held by only a few people and is not available for sale to the general public, corporation whose stock is widely held and available for sale to the general public, hybrid of a closely held corporation and a partnership, organized and operated like a corporation but treated as a partnership for tax purposes. A B2B (business to business) company is one that offers products or services directly to other businesses. | Meaning, pronunciation, translations and examples expressed in terms of the same currency. independently owned business that has relatively little influence in its market. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Glossary of Business Terms (List is separated by Accounting & Finance Terms. "I'm in the computer business.") Business Expenses: Any expenses incurred in the ordinary course of business. Note, terms may be repeated) Accounting Terms . Business expenses are deductible and are always netted against business income . Assets. These terms may come up in meetings with potential investors, partners, and clients, so it’s important to be aware of them and to understand how they might affect your business. Economic resources a business, you often need to ensure they understand and can be superimposed horizontal... Delegated to levels of management at points below the top more with flashcards business Law Chapter and. Resources among its citizens arranging the work and resources needed to achieve the goals that have set... Start and run a business, you don ’ t need an MBA master... 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