Unit 2 Key Terms

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1. Added value?

  • The responsibility for the success and failure of the business.
  • The share of the total market.
  • The result of "adding value". Added value is the difference between the price of the finished product and the costs incurred in making it.
  • The proportion of employees who are not at work over given period of time.
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2. Advertising?

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

3. 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.

4. Agent?

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

5. Absenteeism?

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

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