Prep for the New TOEIC - Keywords and Phrases

Comprehensive vocabulary flashcards covering general business topics such as contracts, negotiations, marketing, and sales based on the Prep for the New TOEIC curriculum.

TOEIC

The Test of English for International Communication, used to demonstrate competence in workplace English.

Collocations

Word combinations that are typically used together in context, such as "growth rate" instead of "growing rate."

Acceptance

The act of agreeing to an offer; in trade, it can refer to an invoice or document indicating guaranteed payment.

Agreement

A formal decision about future action which is a countable noun; when referring to the state of consent, it is uncountable.

Amend

To change or improve something, especially a written document like a contract.

Amendment

A formal addition or change to a constitution, law, or contract; for example, a constitutional amendment.

Bind

To tie or unite; in a legal sense, it means to obligate someone by a contract.

Binding

Describing an agreement that cannot be broken; to be legally forced to follow rules or terms.

Breach

The act of breaking a law, promise, or agreement, such as a breach of contract or breach of trust.

Clause

A specific part or separate article of a legal document, like a penalty clause or a relative clause.

Contractual

Relating to or provided for in a formal agreement, such as a contractual obligation.

Obligation

A responsibility, duty, or commitment that one is legally or morally bound to perform.

Party

A person or group involved in a legal agreement, or one of the sides in a negotiation.

Satisfy

To comply with or fulfill the terms of a contract, or to meet specific standards and expectations.

Accommodate

To provide or supply someone with something, such as a better offer or accommodation.

Afford

To have enough money or time to be able to do something; typically used with "can" or "be able to."

Apprehensive

Feeling worried or nervous about something that you are going to do or that may happen.

Bargain

To negotiate the terms of a transaction; or an item bought for less than its usual price.

Compromise

An agreement made between two sides in which each side gives up some of what they wanted to reach a settlement.

Concede

To admit that something is true or valid, or to surrender a point or right in a negotiation.

Offset

To use an amount or effect to balance or cancel out another amount or effect, such as using profit to cover a loss.

Commercial

Relating to business or trade; or an advertisement on television or radio.

Direct marketing

A form of advertising that allows businesses to communicate directly with customers (e.g., direct mail).

Distribution

The act of sharing or delivering goods to many people; in statistics, the way something is spread (e.g., normal distribution).

Fair trade

Trade in which producers in developing countries are paid a fair price for their work.

Hook

A method or strategy used in marketing to attract and hold the attention of customers.

Merchandising

The activity of promoting and selling goods, often by using popular themes or characters from movies.

Reputation

The common opinion that people have about someone or something; status or prestige.

Strategy

A detailed plan for achieving a goal, such as an exit strategy or a marketing strategy.

Assurance

A positive declaration intended to give confidence; a promise or guarantee.

Auction

A public sale in which goods or property are sold to the person who offers the most money.

Legitimate

Conforming to the law or rules; legal and authentic.