Key Business and Finance Terms Defined
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Key Business & Finance Terms
1. Bargain
Something that is of very good quality but relatively inexpensive.
2. Change
The money that someone gives back to you when you pay more than something actually costs.
3. Currency
The system or type of money that a country uses.
4. Discount
Something you buy that costs much less than normal.
5. Entrepreneur
Someone who starts a new business or arranges business deals in order to make money, often in a way that involves financial risks.
6. Fair Trade
The activity of making, buying, and selling goods in a way that is morally right.
7. Loan
An amount of money that you borrow from a bank, etc.
8. Mortgage
A legal arrangement by which you borrow money from a bank or similar organization in order to buy a house, and pay back the money over a period of years.
9. Overdraft
The amount of money you owe to a bank when you have spent more money than you had in your account.
10. Receipt
A document that you get from someone showing that you have given them money.
11. Refund
Money that you get when you return something you have paid for.
12. Retailer
A person or business that sells goods to customers in a shop.
13. Wholesaler
A person or company who sells goods in large quantities at low prices to other businesses, rather than to the general public.
14. Going Overdrawn
You have spent more than you had in your account and so you owe the bank money.
15. Trading
To buy and sell goods, services, etc., as your job or business.
16. Sale
An event or period of time during which a shop reduces the price of some of the things it sells.
17. Enterprise
A company, organization, or business.
18. Insurance
An arrangement with a company in which you pay them money, especially regularly, and they pay the costs if something bad happens.
19. Voucher
A ticket that can be used instead of money for a particular purpose.
20. Gift Voucher
A special piece of paper that is worth a particular amount of money when it is exchanged for goods in a shop, often given as a present.
21. Coupon
A small piece of printed paper that gives you the right to pay less for something or get something free.
22. Value for Money
The goods/services received are worth the price paid.
23. Bank Charges / Fees
The amount you have to pay your bank for the services that they give you.
24. Getting into Debt
Start to owe money.
25. Crediting an Account
To add money to your bank account.
26. Debiting an Account
To take money out of your bank account.