TERMS AND CONCEPTS

Cards (163)

  • What is acceptance in contract law?
    The agreement to accept an offer
  • What does acquisition refer to in business?
    A larger company absorbing a smaller one
  • What is advertising?
    Paid communication about goods and services
  • What is agro-processing?
    Manufacturing goods from agricultural raw materials
  • What is an airway bill?
    An important document for air transportation
  • What is arbitration in dispute resolution?
    A third party settles disputes legally
  • What is assurance in risk management?
    Transferring risk for a payment
  • What does authority refer to in an organization?
    The right to make decisions
  • What characterizes autocratic leadership?
    The leader makes all decisions
  • What is backward linkage in industry?
    Linkage with industry suppliers
  • What is the balance of payments?
    Record of transactions with the world
  • How is the balance of trade calculated?
    Visible exports minus visible imports
  • What is a bank draft?
    A guaranteed payment instrument
  • What is bank money?
    Money held electronically in accounts
  • What is barter?
    Exchange of goods without money
  • What is a bill of lading?
    A document for sea transportation
  • What is a border tax?
    A tax on imported or exported goods
  • What is a bounced cheque?
    A cheque with insufficient funds
  • What is brand awareness?
    Customer identification of a product
  • What is branding?
    Creating a name or symbol for distinction
  • What is a budget?
    An established target for expenditure
  • What is the Bureau of Standards?
    A government office protecting consumers
  • What does business encompass?
    Production and distribution of goods and services
  • What is buying power?
    Ability to purchase goods and services
  • What is capacity in contract law?
    Understanding of agreement consequences
  • What does capital refer to?
    Money and assets for production
  • What is a capital account?
    Record of investment flows in a country
  • What is capital-intensive production?
    Production using more machines than humans
  • What does CARICOM stand for?
    The Caribbean Community organization
  • What is a central bank?
    Government institution regulating financial sector
  • What is the chain of command?
    The flow of authority in an organization
  • What is a channel of communication?
    The means of sending a message
  • What characterizes charismatic leadership?
    Leadership based on personality and disposition
  • What is a cheque?
    A payment instrument directing bank payment
  • What is cheque clearance?
    Process of banks settling cheque payments
  • What is collateral in lending?
    Value used to secure a loan
  • What is collective bargaining?
    Negotiation between unions and employers
  • What is a commodity?
    A product traded to satisfy needs
  • What does communicating involve in an organization?
    Keeping employees informed of plans
  • What is communication?
    Transmission of a message to a receiver