Business Categories
What's the Difference?
Who Owns It?
Success is the Key
Business Lingo
100
The action or process of keeping financial accounts.
What is Accounting?
100
Basic requirements for human survival.
What is a need?
100
Where a business allows another operator to trade under their name.
What is a franchise?
100
The goals or targets set by a business.
What are objectives?
100
To sell a good overseas.
What is to export?
200
The action or business of promoting and selling products or services, including market research and advertising.
What is Marketing?
200
Physical products like a mobile phone, packet of gum or a pair of shoes.
What is a good?
200
A partnership where some partners contribute capital and enjoy a share of the profit but do not take part in the running of the business
What is a limited partnership?
200
A brief summary of the firms' aims and objectives.
What is a mission statement?
200
The peers and staff that work with you in an organization.
What is a colleague?
300
The process of dealing with or controlling things or people
What is Management?
300
People's desire for goods and services.
What is a want?
300
Where the business has a separate legal identity from that of its owners.
What is an incorporated business?
300
In business, the production of a limited range of goods.
What is specialization?
300
A company that has offices worldwide.
What is a multinational corporation?
400
The branch of knowledge concerned with the production, consumption, and transfer of wealth.
What is Economics?
400
Non-physical products like banking, car washing and waste disposal.
What is a service?
400
An individual or group with an interest in the operation of a business.
Who are stakeholders?
400
Making as much profit as possible in a given time period.
What is profit maximization?
400
The biggest company in an industry.
What is a market leader?
500
The management of large amounts of money, especially by governments or large companies.
What is Finance?
500
An article or substance that is manufactured or refined for sale.
What is a product?
500
Business organizations owned by central or local government.
What is the public sector?
500
The growing integration of the world's economies.
What is globalization?
500
The quality of housing, material comfort, and wealth experienced by an individual or group.
What are living standards?
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