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To experienced economists, this vocabulary, though a little technical, will be easily understood. For average people who are simple consumers, not every word or expression will be clear... Only pick the concepts that you must understand and/ or use and which are very frequently heard in our present economic context.
A breach of contract...
|A company||A business|
|A firm||To be in business|
|To run a business||To deal/ trade in|
|Trade/ trading||A trade/ trading agreement|
|To sign/ cancel a contract||A breach of contract|
To compete=> a competition
Rock bottom prices
|A businessman/ woman||A head of a company|
|The entrepreneurial spirit||To set up a company|
|To set up one's own business|| To set up a business on one's own |
| The brand image || A brand/ a make|
| A registered trademark|| A patent |
|The law of supply and demand||Competition|
|Unfair competition||To compete with sb/ sth|
|To market||To do some market research|
|A gap in the market||An outlet|
The home market
The domestic market
|A profit margin||A loss|
|Gross/ net||The turnover|
A branch/ a mark
A FEW EXPRESSIONS:
- to meet the needs of the customer (to satisfy them)
- to launch a product (to start selling a new product)
- to break into new markets
- to capture a market
- to carve out a share of the market
- to establish oneself in a market
- to saturate the market
- business is good/ is bad! Business is uncountable (verb in the singular)
- to go into voluntary liquidation
- to go into compulsory liquidation
|The financial year||The balance sheet|
Why organise drive sales?
|A sales drive||A sample|
|A trade fair||An exhibitor|
|To make a profit||To be in deficit|
|Compulsory liquidation||To go bankrupt/ bankruptcy|
|To refloat a company||A rescue plan|
There's a HUGE difference between a "Trade fair" (or show/ exhibition) and The "Fair trade" (trade carried on under a fair-trade agreement.)
These words and expressions are very frequently heard, but not everyone of us has complete understanding and mastery of them...
Don't worry! In the test, there's no trap, and you should all pass with flying colours! Go for it!
English exercise "Vocabulary: Business" created by here4u with The test builder. [More lessons & exercises from here4u]
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