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Vocabulary
International Business/Marketing
Terms
Business & Economics
Entrepreneurship
100
A form of business organization defined as an association of two or more persons operating as co-owners.
What is partnership?
100
The difference in value between a nation's imports and exports.
What is balance of trade?
100
the state of being responsible for something
What is liability?
100
The primary goal of all businesses
What is to earn profit
100

Choosing between the welfare of the organization and the individual's advancement of personal interests.

What is conflict of interest

200
Two companies combining to form a new company.
What is a merger?
200

This is the process of promoting and selling a product or service.

What is marketing?

200
The process of dealing with or controlling things or people
What is management?
200
A good or service with tangible and intangible characteristics that provides satisfaction and benefits.
What is a product
200

A short and compelling way to describe your business in 30-60 seconds. 

What is an elevator pitch

300
A person who organizes and manages any enterprise, usually with considerable initiative and risk.
What is a entrepreneur?
300
Tax levied by a nation on goods imported into the country.
What is import tariff?
300
The sale of goods and services to foreign markets
What is exporting?
300

The fee paid to borrow money from a bank

What is interests

300

The first version of a product created to test the market.

What is a prototype 

400
A written description of a new business venture that describes all aspects of the business.
What is a business plan?
400
the total amount of money being transferred into and out of a business
What is cash flow?
400
Being able to interact in the workplace.
What is communication?
400
The funds used to acquire the natural and human resources needed to provide products.
What is capital
400

The process of building relationships to grow your business.

What is networking

500
Rivalry among businesses.
What is competition?
500

A catchy phrase or sentence used to promote a brand.

What is a slogan?

500
Businesses owned and operated by one individual.
What is sole proprietorship?
500

The term for a new business in its early stages.

What is a start up

500

The business model where you pay to use another company’s brand and system.

What is a franchise