Business English M3Ws Vocabulary Flashcards

Comprehensive vocabulary list from Units 4, 13, 15, and the European Union module, covering marketing, economics, international trade, and EU institutions.

Account management

A form of business management oriented toward specific customer groups, featuring customized order processing, consultation, and a focus on key accounts.

Advertising agency

A company that specializes in creating, planning, and handling advertising and other forms of promotion for its clients.

Advertising copy

The text or written content used in an advertisement.

Benchmarking

The process of comparing business processes and performance metrics to industry bests or best practices from other companies.

Blue-chip company

A top-tier, large-scale corporation that is considered a leader in its industry.

Cold call

An unsolicited visit or telephone call to someone in an attempt to sell goods or services.

Distribution channel

The chain of businesses or intermediaries through which a good or service passes until it reaches the final buyer or the end consumer.

Endorsement

A testimonial or product recommendation made by a famous person to promote a product.

Unique Selling Proposition (USP)

A factor that differentiates a product or service from its competitors, providing a unique competitive advantage.

Balance of payments (BOP)

The difference in total value between payments into and out of a country over a period.

Consumer price index (CPI)

A measure that examines the weighted average of prices of a basket of consumer goods and services, used to track the cost of living.

Disposable income

The amount of money that households have available for spending and saving after income taxes have been accounted for.

Economies of scale

The cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output decreasing with increasing scale.

Foreign direct investment (FDI)

An investment in the form of a controlling ownership in a business in one country by an entity based in another country.

Gross domestic product (GDP)

The total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.

Return on investment (ROI)

A performance measure used to evaluate the efficiency or profitability of an investment.

Bilateral trade

The exchange of goods between two nations promoting trade and investment by reducing or eliminating tariffs and other barriers.

Invisible trade

Trade in services, such as banking or tourism, where no physical goods are exchanged.

Non-tariff barrier (NTB)

A trade restriction, such as a quota, embargo, or sanction, that countries use to further their political and economic goals instead of a direct tax.

Red tape

Excessive bureaucracy or adherence to rules and formalities, especially in public business.

Austerity measures

Economic policies implemented by a government to reduce budget deficits through spending cuts, tax increases, or a combination of both.

Bailout

A financial rescue package provided to a company or country to prevent it from failing or going bankrupt.

Eurozone

The geographic and economic region that consists of all the European Union member states that have fully incorporated the euro as their national currency.

MEP (Member of the European Parliament)

A person who has been elected to serve as a representative in the European Parliament.

Net contributor

A member state that pays more into the EU budget than it receives back in funding.

Single market

The EU's internal market, which allows the free movement of goods, services, capital, and people.

Supranational

Having power or influence that transcends national boundaries or governments.