Big Business Dictionary

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  • Created by: Lily
  • Created on: 29-04-13 21:55
Capital
Money needed to start a business
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Cartel
Formal agreement between competing corporations within one industry to affect market prices by controlling production/marketing
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Commerce
Buying & Selling of goods
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Corporation
Larger company owned by a number of shareholders
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Credit
Granting of a loan
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Economies of scale
Benefits gained by a business creating a large scale of production e.g securing discounts by buying raw materials in large quantities
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Entrepreneur
Owner of a business who take risks in attempt to make profits
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GNP
Total value of all the goods & services produced in a country
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Holding company
A corporation that owns a controlling share of the stock of one or more firms
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Inflation
Increase in prices - Fall in purchasing value of money
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Limited liability
Only the assests put into the corporation by a shareholder are at risk in the event of bankrupcy
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Monopoly
Single corporation/trust owns nearly/all of the market for one type of product/service
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Philanthropist
Person who freely gives/help to people who need it
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Rebate
Part of a payment
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Share
Single unit of ownership in corporation
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Social Darwinism
Society operates in the same way as the animal kingdom - survival of the fittest
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Tariff
Tax on imported goods making them more expensive to buy and trying to increase the sale of domestic goods
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Trust
Large corporations formed from the merger of smaller corporations set up reduce competition and control prices within an industry
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Vertical Integration
A corporation that controls all aspects of manufacturing from extracting raw materials to selling the finished products
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Wall Street
Location of the New York stock exchange - central market in the US for dealing with stocks,shares and securities
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Other cards in this set

Card 2

Front

Formal agreement between competing corporations within one industry to affect market prices by controlling production/marketing

Back

Cartel

Card 3

Front

Buying & Selling of goods

Back

Preview of the back of card 3

Card 4

Front

Larger company owned by a number of shareholders

Back

Preview of the back of card 4

Card 5

Front

Granting of a loan

Back

Preview of the back of card 5
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