Unit 2 Key Terms

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1. Bad debt?

  • The proportion of employees absent at given period of time.
  • Adding value to the products or services.
  • 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.
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2. Absenteeism?

  • 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 dividing the market.
  • The process of planning and collecting information.

3. Advertising?

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

4. Automation?

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

5. Added value?

  • The share of the total market.
  • The proportion of employees who are not at work over given period of time.
  • 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 responsibility for the success and failure of the business.

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