Unit 2 Business Vocabulary Terms

Fill in the blank: ________ is an amount that has to be paid or spent to buy or obtain something.

• Costs

• Profits

• Savings

• Revenue

Fill in the blank: ________ is a person or organization that buys goods or services from a store or business.

• Customers

• Suppliers

• Employees

• Managers

Fill in the blank: ________ is an amount paid to someone because they have been hurt or harmed in some way.

• Compensation

• Donation

• Subscription

• Allowance

Fill in the blank: ________ is how, why, where, and when consumers buy things, and the study of this.

• Consumer Behavior

• Market Segmentation

• Product Placement

• Brand Loyalty

Fill in the blank: ________ means made to look exactly like something else, usually illegally.

• Counterfeit

• Original

• Unique

• Authentic

Fill in the blank: ________ is the exclusive legal right, given to an originator or an assignee to print, publish, perform, film, or record literary, artistic, or musical material, and to authorize others to do the same.

• Copyright

• Trademark

• Patent

• Franchise

Fill in the blank: ________ is a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law.

• Corporation

• Partnership

• Sole Proprietorship

• Franchise

Fill in the blank: ________ are the ideas, beliefs, and customs that are shared and accepted by people in a society.

• Culture

• Weather

• Technology

• Economy

Fill in the blank: ________ is the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.

• Credit

• Deposit

• Withdrawal

• Loan

Fill in the blank: An entry recording an amount owed, listed on the left-hand side or column of an account is called ________.

• Debit

• Credit

• Asset

• Liability