Share BEC Higher Vocabulary
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base rate/prime rate
The basic rate of interest charged on borrowing money.
collateral
Something of value which you can offer as security against a loan.
comparative advantage
A superior competitive position, e.g. your products are cheaper or better than those of your competitors.
consumption
The level or rate at which goods are used up. In the case of cars, you can talk about fuel XXX. With machines, you can refer to energy XXX. The higher this valu
to dismiss
A company will do this to the people they do not want to employ any more. Exemple: when there is a overcapacity or there are economic difficulties, a firm will
to diversify
This is what a company does when it decides to extend its range of products and even go into business sectors which are totally different from the original core
an entrepreneur
This is a word, which comes from French. It is used to describe a businessman who starts up and runs his own business ventures.
forward integration
This means expanding by buying up or acquiring companies further down the chain of distribution in your line of business. (As you can imagine, this is the oppos
futures
These are options to buy or sell shares at some future date. Speculators can win or lose lots of money with these financial derivatives.
go-slow (v&n)
This is a type of industrial action. It is not a strike, the workers go to work but they deliberately choose not to work as efficiently as they would otherwise
gross domestic product
All the work done and profit made within a country by its industries.
gross national product
This is similar to GDP, but also includes the revenue generated outside the country perhaps in subsidiaries or in foreign investments.
gross profit
This is what is left after the costs of production have been deducted form the turnover figures but before tax has been subtracted.
hard currency
Some countries have money which is not considered trustworthy. Business transactions are therefore often carried out using something more reliable like the US d
hedging
This is something you can do to reduce risk. You can insure against a rise in the value of the dollar so that, what you lose on the one hand will be compensated
a hostile takeover
This is an unfriendly merger. One company buys up the shares of another until it can take over control.
