finance

  1. The Basic Economic Problem: Limited resources but unlimited wants.

  2. Contract: A legal agreement between people or businesses.

  3. Offer: A proposal to make a deal.

  4. Consideration: What each person gives up or exchanges in a deal.

  5. Capacity: Being legally able to make a deal (like being an adult).

  6. Philanthropy: Giving money or help to others.

  7. Lease: A rental agreement.

  8. Breach of Contract: Breaking the rules of a contract.

  9. Sales and Service Contract: A deal to sell something or provide a service.

  10. Business Ethics: Doing business the right way (not cheating).

  11. Code of Ethics: Rules about what’s right and wrong in a business.

  12. Party: A person or group involved in a contract or agreement.

  13. Corporate Social Responsibility: A company helping society and being ethical.

  14. Employer Identification Number (EIN): A business’s tax ID.

  15. Morals: Ideas about right and wrong.

  16. Software License: Permission to use a program legally.

  17. Partnership Agreement: A contract for people working together in a business.

  18. Cash Flow: Money coming in and out of a business.

  19. Collateral: Something valuable you give to back up a loan.

  20. Entrepreneur: Someone who starts their own business.

  21. Mentor: An experienced guide or teacher.

  22. Mission Statement: A company’s goal in one sentence.

  23. Business: Selling goods or services to make money.

  24. Product: Something a business sells.

  25. Market: Where people buy and sell things.

  26. Supply and Demand: How much of something is available vs. how much people want it.

  27. Want: Something you’d like to have but don’t need.

  28. Gross Domestic Product (GDP): The total value of a country’s goods and services.

  29. Inflation Rate: How fast prices are going up.

  30. Monopoly: When one business controls the market.

  31. Collusion: Secretly working with others to cheat or limit competition.

  32. Stock: A share of ownership in a company.

  33. Business Market: Companies selling to other companies.

  34. Globalization: The world becoming more connected through business and trade.

  35. Culture: Shared beliefs and behaviors in a group.

  36. Domestic Business: Business within one country.

  37. Exports: Goods sold to other countries.

Workplace and Employee Terms

  1. Collective Bargaining: Workers and employers negotiating work conditions.

  2. Antitrust Laws: Rules to stop unfair business practices.

  3. Bankruptcy Laws: Rules for when someone or a business can’t pay debts.

  4. Securities Laws: Rules for trading stocks and investments.

  5. Recall: Taking back faulty products.

  6. Acceptance: Agreeing to an offer or deal.

  7. Contract Law: Rules about making and following contracts.

  8. Employment Contract: A deal between a boss and a worker.

  9. Social Responsibility: Helping others and being fair.

  10. Code of Conduct: Guidelines for how to behave at work.

  11. Corporate Culture: A company’s personality and values.

  12. Trade Secrets: A business’s private info that gives it an advantage.

  13. Ethics: Doing what’s right.

  14. Integrity: Being honest and trustworthy.

  15. False Advertising: Lying about a product.

  16. Confidentiality: Keeping private information secret.

  17. Proprietary Information: Business info only the company knows.

  18. Human Resources (HR): The team that hires and manages workers.

  19. Human Resources Management (HRM): Overseeing worker-related tasks.

  20. Job Description: A list of what a job involves.

  21. Compensation: Payment for work.

  22. Professional Development: Learning to improve skills.

  23. Salary: Regular payment for work (monthly or yearly).

  24. Work Environment: The space and atmosphere at work.

  25. Motivation: What pushes people to do their best.

  26. Harassment: Unwanted or offensive behavior at work.

  27. Ergonomics: Making workplaces comfortable and efficient.

  28. Mediation: A neutral person helping solve disagreements.

  29. Discrimination: Treating people unfairly based on personal traits.

  30. Job Sharing: Two people splitting one job.

  31. Occupational Safety and Health Administration (OSHA): A group that ensures safe workplaces.

  32. Downsizing: Reducing the number of employees to save money.

  33. Screening Interview: A first meeting to see if you’re right for the job.

  34. Labor Union: A group that protects workers' rights.

  35. Incentive: A reward for doing something well.

  36. Orientation: Training for new workers.

  37. Job Analysis: Studying what a job requires.

  38. Recruiting: Finding people for a job.

  39. Competitive Wages: Fair pay compared to similar jobs.

  40. Strike: Workers stop working to demand better conditions.

  41. Arbitration: A third person solving a disagreement.

  42. Benefit: Extra perks like insurance or time off.

  43. White-Collar Worker: Office workers.

  44. Bonus: Extra pay for good work.

  45. Blue-Collar Worker: Manual labor workers.

  46. Commission: Pay based on sales made.

  47. Piecework: Pay based on items made.

  48. Personal Leave: Time off for personal reasons.

  49. Family Leave: Time off to care for family.

  50. Telecommuting: Working from home.

  51. Flextime: Flexible work hours.