Paper 1 Terminology

COVID-19 pandemic

global pandemic that broke out in late 2019, disrupting the global economy and daily operations

credit card

physical cards that allow for people to purchase items with credit (given to people by banks with the promise of paying back credit monthly)

freelancer

people who work without committing to a job or company long-term

greenwashing

advertising or marketing that make a company’s practices/products seem more environmentally friendly than they really are

interest

the charge for borrowing money that grows with time

interest rate

amount of interest due for a specific time period

landfill site

land that is used to hold trash

line manager

someone who is directly responsible for managing a team or individuals that are a level below them in a company

commercial

the act of doing something to receive a profit

reservoir

natural or artificial places that hold water

solar power

energy from the sun that gets converted to electricity

permanent employees

employees that get paid by a company and are loyal to that company

private limited company

a private company that is owned by few people who have limited liability

public limited company

companies that have owners but also offer shares to the public

environmental sustainability

striving to make responsible decisions that can positively impact the planet’s natural resources

contract

an agreement between parties with all parties involved having to follow obligations