UNIT 8
INTRINSIC VALUE = means that the item would have value even if it were not used as money.
FIAT MONEY = money without intrinsic value that is used as money because of government decree.
CASH = coins or notes that can be spent immediately
(SMALL) CHANGE = coins that are not of high value
CURRENCY = the specific type of money used by a particular country
MEANS = money that allows you to survive
SAVINGS = money that you have saved in order to spend it later
LEGAL TENDER (formal) = coins and notes officially accepted in particular country
PETTY CASH = the small amount of cash that an organisation uses for minor purchases and providing change to customers
MONEY TALKS = money can influence what is done or how it is done
MONEY (IS) NO OBJECT = it does not metter how much smth costs because there is a lot of money available
HAVE MONEY TO BURN = to have a lot of money and spend a large amounts on things that are not necessary
HUSH MONEY = money that you pay someone to stop them telling anyone else about smth that you want to keep secret
PUT YOUR MONEY WHERE YOUR MOUTH IS = to do smth rather than to just talk about it
SEE THE COLOUR OF SOMEONES MONEY = make sure that someone can pay for smth before you let them have it
MAKE MONEY HAND OVER FIST = earn money fast and in large amounts
SEED MONEY = money used for starting a business or project
NEW MONEY = people who have recently become rich
UNIT 9
MONEY-SPINNER = a product or business generating a lot of profit
MONEY LAUNDERING = disguising the criminal origin of money such as drug money
IDLE MONEY = money that is not circulated or invested and does not earn interest
HOT MONEY = money that is passed quickly from country to country to take advantage of differences in interest rates and exchange rates
MONEY MAKER = a person or a business activity that earns a lot of money
NEAR MONEY = an item that can be easily exchanged in the way that money can
MONEY SUPPLY = the total amount of money that exists in the economy of a country
MORTGAGE = put up as security or collateral when taking a bank loan
TO SAVE (SMTH) FOR A RAINY DAYS = to keep an amount of money for a time in the future when it might be needed
HIRE PURCHASE = a method of buying expensive goods in which you pay small regular amounts of money until you have paid the whole amount
NEST EGG = an amount of money saved over a long period of time to use in the future
PAYMENT IN KIND = smth that you give or receive instead of money
APR-ANNUAL PERCENTAGE RATE = it is designed to measure the
UNIT 10
TO GO OVER THE BOOKS = to check and analyse the accounting records of a company
TO BREAK EVEN = to have expenses equal to profits
TO BE SADDLED WITH DEBT = to be burdened with debt
TO WRITE OF (a loan/debt) = to remove from a business record,to cancel a debt
TO KEEP BOOKS = to keep records of money gained and spent
TO COOK THE BOOKS = illegally change information in accounting books in a company
UNIT 11
AFTER-SALES SERVICE = service that continues after the sale of product
CASH REFUND OFFER = offer to pay back part of the purchase price of a product to customers who send a to the manufacturer
CHAIN STORE = two or more shops or outlets that have the same owner and sell similar products
CONVENIENCE STORE = small shop located near a residental area that opens long hours,seven days a week
E-MARKETING = promotion of products and services over the Internet
FOLLOW-UP = to maintain contact after the sale to ensure customer satisfaction
GUARANTEE = a promise that a product will be repaired or replaced if faulty
PROSPECT = a potential customer
VIRAL MARKETING = the Internet version of word-of-mouth marketing-e-mail messages that customers pass on to friends
COLD CALL = an unexpected telephone call or visit by someone trying to sell smth
DEEP DISCOUNTER = a supermarket with very low prices
HYPERMARKET = very large shop with a variety of goods,usually outside a town
DISTRIBUTION CHANNELS = all the companies or individuals involved in moving particular good or service from producer to consumer
TO LAUNCH A PRODUCT = to introduce a new product onto the market
MARKET OPPORTUNITIES = possibilities of filling unsatisfied needs in sector in which a company can profitably produce goods and services.
MARKET RESEARCH = collecting,analysing and reporting data relevant to a specific market situation
MARKET SEGMENTATION = dividing a market into distinctive groups of buyers who have different requirements or buying habits
POINTS OF SALE = places where goods are sold to the public-shops,stores…
PRODUCT CONCEPT = an idea for a new product ,which is tested with target consumers before the actual product is developed
PRODUCT FEATURES = attributes or characteristics of a product
MARKET PENETRATION = the extent to a which a company gains a share of the market
A BUYERS MARKKET = is a market in which the supply of goods is plentiful.Buyers can influence sellers to compete with one another in forcing down prices.
A MARKET NICHE = is a small part of a specialised market
A CLOSED MARKET = is a country or area which a monopolist has declared to be out of bounds to all producers except himself
MARKET SHARE = is the proportion of the total demand for a product supplied by a particular manufacturer
A OPEN MARKET = is a country or area in which,by agreement,several manufacturers are free to compete with each other in selling their products
PRICE BOOM = a good period for sellers,when prices are rising quickly
PRICE CONTROLS = government efforts to limit price increase
PRICE CUT/HIKE = a reduction/increase in price
PRICE LEADER = a company that is first to reduce or increase prices
PRICE TAG = label attached to goods showing the price;also means price
UNIT 12
SLOT = advertising spot on TV.
HOARDING = place on building or by the roadside for a large advertising poster
LEAFLET = piece of paper with advertising or information about a product,service or event
SPONSOR = company which supports arts or sports event financially,partly for advertising purposes
LAYOUT = design of a piece of advertising
DIRECT MAIL = letters or catalogues sent directly to thecustomer
CATALOGUE = book in which goods are listied and described
TARGET AUDIENCE = people who are expected to take notice of an advertisement
MEDIA = newspapers,radio and television
UNIT 13
A MULTINATIONAL COMPANY (MNC) = a firm which owns or controls production or services outside the country in which it is based.
A SOLE TRADER = a private individual who runs a one-man business.He takes all the profits but also all the risks
A SUBSIDIARY = of which at least half the share capital is owned by another company,called a parent or holding company
PARTNERSHIP = associations of two or more people sharing the risks and the profits in agreed proportions
A PUBLIC LIMITED COMPANY (plc) = must have a minimum nominal share capital of 50.000 dollars.Shares can be freely bought and sold by members of the public
A JOINT VENTURE = a business activity in which two or more people or organizations work together
A PRIVATE LIMITED COMPANY (Ltd.Co) = cannot offer its shares to the general public.Nor can shares be transferred between members without the consent of the other shareholders
ENTERPRISE CULTURE = an atmosphere which encourages people to make money through their own activities and not rely on the government
ENTERPRISE ZONE = an area where the government encourages companis to start new business by offering them lower taxes,less paperwork,and other financial advantages
FREE (PRIVATE) ENTERPRISE = business activity owned by individuals rather that the state
ENTERPRISE ECONOMY = an economy characterised by an enterprise culture
FOR/ON SALE = available for people to buy
SALES ASSISTANT = someone whose job is to help customers and sell things in the shop
SALES PITCH = the statements and promises someone makes in an attempt to persuade someone else to buy smth
SALES REPRESENTATIVE (sales rep) = someone whose job is to travel to different places and sell products of a particular company
SALES FORCE = a group of people whose job is to sell products or services for their company
UNIT 13
A MULTINATIONAL COMPANY (MNC) = a firm which owns or controls production or services outside the country in which it is based.
A SOLE TRADER = a private individual who runs a one-man business.He takes all the profits but also all the risks
A SUBSIDIARY = of which at least half the share capital is owned by another company,called a parent or holding company
PARTNERSHIP = associations of two or more people sharing the risks and the profits in agreed proportions
A PUBLIC LIMITED COMPANY (plc) = must have a minimum nominal share capital of 50.000 dollars.Shares can be freely bought and sold by members of the public
A JOINT VENTURE = a business activity in which two or more people or organizations work together
A PRIVATE LIMITED COMPANY (Ltd.Co) = cannot offer its shares to the general public.Nor can shares be transferred between members without the consent of the other shareholders
ENTERPRISE CULTURE = an atmosphere which encourages people to make money through their own activities and not rely on the government
ENTERPRISE ZONE = an area where the government encourages companis to start new business by offering them lower taxes,less paperwork,and other financial advantages
FREE (PRIVATE) ENTERPRISE = business activity owned by individuals rather that the state
ENTERPRISE ECONOMY = an economy characterised by an enterprise culture
FOR/ON SALE = available for people to buy
SALES ASSISTANT = someone whose job is to help customers and sell things in the shop
SALES PITCH = the statements and promises someone makes in an attempt to persuade someone else to buy smth
SALES REPRESENTATIVE (sales rep) = someone whose job is to travel to different places and sell products of a particular company
SALES FORCE = a group of people whose job is to sell products or services for their company