the difference of the amount spent and the amount earned
What is profit
100
another word for income
What is revenue
100
the person who is responsible for purchasing the merchandise for a store.
Who is the buyer
100
Another term for inventory.
What is stock
100
The total amount of goods a business has, including goods in the backroom and on the sales floor
What is inventory
200
The vendor’s bill for stock purchased
What is an invoice
200
Items that are related to each other and that usually sell together.
What is related merchandise
200
Usually small items of merchandise that are purchased with little or no thought on the part of the customer.
What is an impulse buy
200
The payments made to employees for the hours that they work.
What are wages
300
When there are too many staff members in the store for the customer traffic.
What is overstaffing
300
When there is not enough staff to handle the customers.
What is understaffing
300
The assignment of workers to jobs within a business.
What is staffing
300
Any email that a recipient does not wish to receive.
What is spam
300
Any program that tries to build and maintain a base of repeat customers.
What is a loyalty program
400
The amount of money a business charges for items it offers for sale.
What is price
400
The amount of money the store pays to purchase the merchandise from a supplier
What is cost
400
The total revenue of a business less all expenses over a specific period of time
What is profit
400
The principle that describes the amount of product available to sell and the willingness of customers to buy that product
What is supply and demand
400
the reduction of a price
What is markdown
500
Goods whose sales fluctuate according to the time of year. Sporting goods such as skis and swimsuits are seasonal, but some goods, such as whole turkeys or pumpkins, may be tied to a particular holiday or time of year
What is seasonal
500
The goods that a factory manufactures and that a retail store offers for sale to customers
What is product
500
The product, or goods, that a retail store has for sale
What is merchandise
500
Product that has a limited shelf life and must be sold rather quickly, such as milk or batteries
What is perishability
500
In business, competition refers to other businesses that are trying to attract the same customers as your own business.