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The fall in the value of a currency compared with other currencies.
Exchange rate depreciation
When the owners of two businesses agree to join their firms together to make one businesses.
Merger
this exists when people who are willing and able to work cannot find a job.
Unemployment
Specialisation occurs when people and businesses concentrate on what they are best at.
Specialisation
The finance needed by a new business to pay for essential fixed and current assets before it can begin trading.
Start-up capital
This is a physical limit to the quantity of a product that can be imported.
Import quota
A method of assessing the effectiveness of an employee.
Appraisal
the increase in the average price level of goods and services over time.
Inflation
This is development which does not put at risk the living standard of future generations.
Sustainable development
This is when a business decision benefits stakeholders other than shareholders.
Social responsibility
The buying and selling of goods and services using computer systems linked to the internet,
E-commerce
This occurs when the value of a currency falls - it buys less of another currency.
Currency depreciation
When consumers keep buying the same brand again and again instead of choosing a competitor's brand.
Brand loyalty
Non-current liabilities are long-term debts owed by the business.
Non-current liabilities
This is a tax on an imported product.
Import tariff
The number of subordinates working directly under a management.
Span of control
