Economics Semester 2

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Insolvency

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10th

21 Terms

1

Insolvency

Inability to pay back one's debts

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2

Dividend

a sum of money paid regularly by a company to its shareholders out of its profits

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3

Government bond

A debt issued by the government to support their activities, acting as a loan to its buyers

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4

Superannuation

regular payment made into a fund by an employee toward a future pension

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5

Life insurance

a contract where the insurer promises to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period

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6

Risk-averse investor

an investor who prefers lower returns with known risks rather than higher returns with unknown risks

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7

Ethics

A set of moral principles that a business needs to establish and follow

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8

Corporate Social Responsibility (CSR)

A self-regulating business model that helps a company be socially accountable to itself, its stakeholders, and the public

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9

Brand

a type of product manufactured by a particular company under a particular name

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10

Competition

The rivalry that occurs among sellers in their desire to seek and satisfy a market

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11

Unique selling point (USPs)

Marketing that makes a product appear different from others in the market

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12

Competitive advantage

A point of difference or superiority held over a businesss competitors

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13

Market

Any place where the sellers of a particular good or service can meet with the buyers of that good and service and where there is potential for a transaction to take place

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14

Market share

The percentage of total sales in a market held by one brand or business

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15

Brand leader

The brand in the market with the largest share

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16

Monopoly

Market containing a single business

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17

Open innovation

The practice of businesses and organizations sourcing ideas from external sources as well as internal ones

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18

Product differentiation

The characteristics that make your product or service stand out to your target audience

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19

Social responsibility

Ethical theory in which individuals are accountable for fulfilling their civic duty, and the actions of an individual must benefit the whole of society

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20

Stakeholder

A person, group, or organization with a vested interest, or stake, in the decision-making and activities of a business, organization, or project

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21

List the 7 Ps

Product, Price, Place, Promotion, People, Process, Physical Evidence

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