Business > Chapters 4-13 > Flashcards

Chapters 4-13 Flashcards

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1
Q

Ch.4 p.27 Venture capitalists

A
  • Specialist investors (individuals or companies) who provide money for business purposes, often to new businesses.
  • google inc or banks
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2
Q
  1. Limited companies
A
  • Business organisations that have a separate legal identity from that of their owners
  • the owner’s personal belongings (car, house…) are protected.
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3
Q
  1. Limited liability (limited companies)
A
  • Shareholders are legally responsible for the debts of a company according to how many shares they own.
  • if a business goes bankrupt and a shareholder owns 50% of the business, and they business owes 3000 euros, the shareholder would have 1500 euros
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4
Q
  1. Chairperson
A

Someone who is in charge of a meeting or directs the work of a committee or organisation

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5
Q
  1. Certificate of incorporation
A

Document needed before a new company can start doing business

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6
Q
  1. Stock market
A

Market for shares in PLC’s

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7
Q
  1. Private limited company
A

In the uk, a private company limited by shares, which means the liability of the shareholders to creditors of the company is limited to the capital originally invested, a shareholder’s personal assets are protected, and with Ltd or Limited after its name.

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8
Q
  1. Public limited company
A

In the uk, a limited company whose shares are freely sold and traded, with a minimum share capital of 50000, and the letters Plc after its name.

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9
Q
  1. Prospectus
A

Document produced by a company that wants the public to buy its shares

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10
Q
  1. Regulatory control
A

Official power to control an activity and to make sure that it is done in a satisfactory way

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11
Q
  1. Flotation
A
  • Process of a company ‘going public’

* from the on, everyone will be able to see the money they earn p, if they make operations or decisions

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12
Q
  1. Multinational company
A

Large business with significant production or service operations on at least 2 different countries

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13
Q
  1. Issue(shares)
A

Sale of new shares

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14
Q

Ch5. 35. Productivity

A

Rate at which goods are produced, and the amount produced specially in relation to the work, time and money needed to produce them.

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15
Q
  1. Public corporations
A

Business organizations owned and controlled by the state/government

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16
Q
  1. Portfolio
A

Collection (of business interests or products)

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17
Q
  1. Infrastructure
A

Basic systems and structures that a country or organization needs in order to work properly

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18
Q
  1. Natural monopoly
A

Market where it is more efficient to have just one organization meeting total market demand

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19
Q
  1. Subsidise
A

Paying part of the costs (often by the government in business)

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20
Q
  1. Privatisation
A

Transfer of public sector resources to the private sector (business)

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21
Q

Ch7. 50. Primary sector (industry)

A

Production involving the extraction of raw materials from the earth

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22
Q
  1. Secondary sector (industry)
A

Production involving the conversion of raw materials into finished and semi-finished goods.

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23
Q
  1. Assembly plant
A

Factory where parts are put together to make a finished product.

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24
Q
  1. Tertiary sector (industry)
A

Protection of services in the economy

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25
52. De-industrialisation
Decline in manufacturing
26
Ch8. 57. Brownfield sites
Areas of land that were once used for urban development
27
57. Greenfield sites
Previously undeveloped areas of land, usually on the outskirts of towns and cities
28
61. Assisted areas
Areas that are designated by a government as having economic problems and are targeted to receive support in a variety of forms
29
61. Viability studies
Careful study of how a planned activity will work, how much it will cost, and what income it is likely to produce
30
62. Trade bloc
Group of countries situated in the same region that join together and enjoy trade free of barriers
31
Ch9. 64. Emerging economies
Rapidly growing economies - emerging economies have huge growth potential but also pose significant risks • an example of this is Brazil
32
65. Globalisation
Growing integration of the world’s economies
33
66. Intellectual property
People’s knowledge or creative ideas that have commercial value and are protectable under different forms of copyright
34
66. Monetary system
System of money in a particular country or the world as a whole, and the way that it is controlled by governments and central banks
35
66. Saturate (market)
To offer so much of a product for sale that there is more than people want to buy
36
70. Predator
Business that tries to use another’s weakness to get advantages
37
70. Hostile takeover
Takeover that the company being taken over does not want or agree to
38
70. Bid
Offer to pay a particular price for something (for example, a business)
39
Ch10. 74. Commodities
Products that are bought and sold (in business often refers to things like oil, gold, iron ore, rice, wheat and meat)
40
74. Patents
Legal documents giving a person or company the right to make or sell a new invention, product, or method of doing something and stating that no other person or company is allowed to do this.
41
74. Ventures
New business activity that involves taking risks
42
76. Currency reserves
Money in foreign currency held by a country and used to support its own currency and to pay for imports and foreign debts
43
76. Human capital
People and their skills
44
76. Enterprise
The activity of starting and running business
45
77. Exploitation
Situation in which you treat someone unfairly by asking them to do things for you, but give them very little in return
46
78. Repatriation (of profit)
Where a multinational returns the profits from an overseas venture to the country where it is based, typically from a developing country to a developed country (not often the other way around)
47
78. Livelihood
Way you earn money in order to live
48
Ch11. 82. Surplus
Amount of something that is more than what is needed or used
49
82. Exports
Goods and services sold overseas
50
82. Imports
Goods or services bought from overseas
51
82. Visible trade
Trade in physical goods
52
82. Invisibles trade
Trade in services
53
82. Balance of trade (or visible balance)
Difference between visible exports and visible imports
54
84. Transactions
Business deals or actions, such as buying or selling something
55
84. Exchange rate
Value of one currency in terms of another
56
86. Commission
Extra amount of money that is paid to a person or organisation according to the value of the goods they have sold or the services they have provided
57
Ch12. 90. Fiscal policy
• using changes in taxation and government expenditure to manage the economy •
58
90. Lay off (staff)
• make employees redundant | •
59
90. Social security payments
• Money taken by the British government from people’s wages to pay for the system of payments to people who are unemployed or ill
60
92. Anti-competitive practices
(Restrictive trade practices) attempts by firms to prevent or restrict competition
61
92. Barriers to entry
Restrictions that mean it is difficult for new firms to enter a market
62
93. Merger
Two or more business joining together to form one new firm
63
94. Protectionism
Use of trade barriers to protect domestic producers
64
94. Infant industries
New industries that are yet to be established
65
94. Dumping
Where a business sells goods in another country often below cost
66
94. Trade barriers
Measures designed to restrict trade
68
94. Interest
Price of borrowed money (and the reward to savers)
69
94. Subsidy
Financial support given to a domestic producer to help compete with overseas firms
70
94. Quota
Physical limit on the quantity of imports allowed into a country
71
97. Budget
An official statement that a government makes about how much it intends to spend and what that rates of taxes will be for the next year or six months
72
97. Tax allowances
Part of income that is not taxed
73
98. Budgetary measures
Actions taken by the government to influence business and the economy
74
94. Monetary policy
Using changes in interest rates and the money supply to manage the economy
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