Financial-Banking College Chiinu

Glossary
at

Business English

Edited by: Nastas Alina Checked by: Corobcean Svetlana

Chiinu 2014

1. Economy the system through which a society answers the three economic questions what, how, and for whom 2. Customer - a person who buys goods or services from a shop or business 3. Capital all the financial resources, buildings, machinery, tools and equipment that are used in the organizations operations 4. Broker a person or organization whose job is to buy and sell shares, currencies, property, insurance etc for others 5. Agent a middleman that facilitate exchanges, represents a buyer or a seller, and he doesnt earn salaries 6. Product is everything that one can exchange, including all tangible and intangible attributes and expected benefits 7. Monopoly is a market with only one seller 8. Prise is the amount of money that the seller is willing to accept in exchanges for the product, at a given time and under giver circumstances 9. Income statement - a financial document showing the amount of money earned and spent in a particular period of time by a company 10. Supply is the quantity of a product that producers are willing to sell at each of various prices 11. Partnership - relationship between two people, organizations, or countries that work together 12. Demand is the quantity of a product that buyers are willing to purchase at various prices

13. Monopolistic competition is a market situation in which there are many buyers along with relatively many sellers who differentiate their products from the products of competitors 14. Barter a system of exchanges in which goods or services are traded directly for other goods and/or services without using money 15. Management is the process of coordinating the resources of an organization to achieve the primary goals of the organization 16. Oligopoly is a market situation in which there are few sellers 17. Accounting is the process of systematically collecting, analysis, and reporting financial information 18. Merchandise - goods that are produced in order to be sold, especially goods that are sold in a store 19. Wholesaler - a person or company that sells goods in large quanitities to other businesses, who may then sell them to the general public 20. Balance sheet - a document showing a companys financial position and wealth at a particular time. 21. Consumer - the person who buys and uses a product or service 22. Cashflow - the amounts of money coming into and going out of a company, and the timing of these 23. Middleman - a person, business, organization etc that buys things in order to sell them to someone else, or that helps to arrange business deals for other people

24. Pure competitions is the market situation in which there are many buyers and sellers of a product, and no single buyer or seller is powerful enough to affect the price of the product 25. Transaction - a business deal, especially one involving the exchange of money 26. Accounting Department department responsible for administering a companys financial affairs 27. Marketing mix - the combination of marketing actions often referred to as product, price, place, and promotion: selling the right product, through appropriate distribution channels, at the right price in relation to other products and for the profitability of the company, with the correct support in terms of advertising, sales force etc 28. Partner - a company that works with another company in a particular activity, or invests in the same activity 29. Profit and loss statement - a financial document showing the amount of money earned and spent in a particular period of time by a company 30. Retailer - a business that sells goods to members of the public, rather than to shops 31. Consumers goods products purchased by individuals for personal consumption 32. Inflation a general risk in the level of price 33. Free market economy an economic system in which individuals and firms are free to enter and leave markets at will