Key Terminology

1. A measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs. (12)
4. Market situation where one producer controls supply of a good or service, and where the entry of new producers is prevented or highly restricted. (8)
5. Un-segmented market in which products with mass appeal are offered to every customer through mass retailers or independent stores, and promoted through mass media. (4, 6)
8. The discounting of future case flows to make them comparable to todays cash. this takes into account the oppotunity costs of waiting for the cash to arrive. (7, 6)
9. - Description of the emotions, attitude, satisfaction, and overall outlook of employees during their time in a workplace environment. Part of effective productivity is thought to be directly related to the morale of the staff. (5, 6)

2. Mental picture that springs up at the mention of a firm's name, it is the public perception of the firm. (8, 5)
3. A benefit, profit, or value of something that must be given up to acquire or achieve something else. (11, 5)
6. Concentrating all marketing efforts on a small but specific and well defined segment of the population. Niches do not 'exist' but are 'created' by identifying needs, wants, and requirements that are being addressed poorly or not at all. (5, 6)
7. Calculating the difference between the forcast average rate of return and the actual rate of interest, to help decide whetherthe average rate of return is high enough given the risks involved in the project. (6, 3, 4)
10. A yeard stick set by directiors to enable managers to judge whether investment ideas are worth pursuing. (9, 5)

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