Vocabulary 1
Vocabulary II
Vocabulary III
Vocabulary IV
Vocabulary V
100
Imports
What is Goods and services one country buys from another country.
100
Exports
What is Goods and Services one country sells to another country.
100
Balance of Trade
What is The difference in value between how much a country imports and how much it exports.
100
Multinational Corp
What is... A company that does business and has facilities in many countries around the world.
100
Exchange Rate
What is The price at which the currency of one country can buy the currency of another country.
200
Partnership
What is A business owned by two or more persons who share the risks and rewards.
200
Retailer
What is A business that sells goods or services directly to the public.
200
Wholesaler
What is A type of business that buys goods in large amounts and resells them to other businesses in smaller lots.
200
unlimited liability
What is Full legal and financial responsibility for a business.
200
Limited Liability
What is The financial responsibility of business owners for only for what they have invested in a business.
300
Sole proprietorship
What is A business owned by only one person.
300
Franchise
What is A contractual agreement to use the name and sell the goods or services of an existing company.
300
Corporation
What is A business treated by law as separate from its owners.
300
Non profit
What is A business whose main purpose is to provide a service rather than to make a profit.
300
Mission Statement
What is A short, specific written statement of the reason a business exists and what it wants to achieve.
400
Goal
What is A precise statement of results the business expects to achieve.
400
Policies
What is Guidelines used in making consistent decisions.
400
Procedures
What is Descriptions of the way work is to be done.
400
Organizational Chart
What is A chart that shows how a business is structured and who is in charge of whom.
400
Top Level Managers
What is Managers responsible for setting goals and planning the future for a company.
500
Middle Managers
What is Managers who carry out the decisions of top management and oversee specific departments.
500
Operational Managers
What is Managers who are responsible for the daily operations of a business, such as supervision and office managers oversee specific departments.
500
create, ship, sell
What is ...What must a business do in order to operate in another country?
500
provides jobs locally keeps money at home
What is Why is a Domestic Business important?
500
function product location
What is ...What are the 3 ways departments organized?
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