Unit 2 Key Terms

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1. Agent?

  • An intermediary who arranges transactions between supplier and a customer.
  • Adding value to the product or service.
  • Planning, collecting and analysing the data.
  • The share of the total market.
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2. Advertising?

  • The proportion of employees absent over given period of time.
  • Adding value to the product or service.
  • Paid-for communication, aimed at informing or persuading.
  • The share of the total market.

3. Absenteeism?

  • The process of dividing the market.
  • The proportion of employees who are not at work over given period of time. Usually expressed as a percentage.
  • The share of total market.
  • The process of planning and collecting information.

4. Bad debt?

  • Where a customer that has bought goods and services on credit proves unable to pay the amount due.
  • The process of dividing a market into smaller sections.
  • The proportion of employees absent at given period of time.
  • Adding value to the products or services.

5. Automation?

  • The replacement of workers with machines to perform task in production.
  • The process of dividing a market into smaller sections.
  • Adding value to the product or service.
  • The share of the total market.

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