Business English

State-owned or government owned company belongs to

• a state

• a sole trader

• a partner

• a feeelancer

bureaucracy means

• business activity that brings much profit

• the system for running government department with rigid rules and slow decisions

• the system of operating a company

• business activity owned by individuals rather than the state

bankrupt means

• you have shares of the enterprise

• you earn a lot of money

• you have a lot of profit

• you run out of money

non-profit organizations are

• organizations with social aims as helping those who are sick or poor

• organizations that bring profit from selling goods

• organizations that shows services

• organizations that are multination

mutuals are organizations that

• help poor and sick people, for example funds

• have members, for example life insurance companies

• can sell and buy shares on the stock exchange, for example PLC

• have shareholders who invest in the companies, for example LLC

volunteers

• workers that are paid

• workers that get commission from sold goods

• workers that get money for overtime

• workers that are unpaid

sales are

• the goods and services that a business sells and the money it receives

• the good and services produced by a company

• the good and services that a company buy

• the good and services a company has

costs are

• the amount of money a business sells

• the amount of money a business buys

• the amount of money that a business spends

• the amount of money that business has

direct costs are

• directly related to providing the product e.g. salaries

• do not change when production goes up and do e.g. rent

• change when production goes up and down e.g. materials

• are not directly related to production e.g. administration

turnover is

• money that you get monthly

• money from sale

• money that you get weekly

• money that you get from services