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Risks

2.05 EC-003

TermDefinition
Bilk swindle or defraud
Business Risk the possibility of loss or gain when in business
Competition rivalry between two or more businesses to attract consumer dollars
Contract Agreement with two partys stating that they will do something for something
Corporation a form of business ownership that is owned by stockholders who have purchased shares of the company
Demand the quantity of a good that consumers are ready to buy at a given price
Demographics social characteristics of the population
External Risk risks that a business cannot control ( inflation, interest rates)
Financial risk possible events that directly affect a businesses cash flow
Free enterprise an economic system where indiviuals and businesses control the means of production
Guarantee a promise made to the consumer that the product will be refunded if not satisfactory
Hazard risks risks that can harm people, property, environment
Insurance an agreementin which the insurer will pay for the insured in return for premium
Internal risk risks that are handled by the business, such as poor budgeting and inaccurate financial data
Investment the use of money to generate profit or gain
Lease a contract to use property that belongs to someone else for money
Liability insurance a contractual agreement that provides money for losses
Markets arrangements for buying and selling of goods and services
Obsolescence being outmoded
Operational risks possible events and situations resulting from employee actions
Partnership the business is owned by two or more persons
Profit monetary reward a business recieves
Pure risks the possibility of loss or no loss
Return income from investment
Revenue income
Shareholder stockholder
`Sole proprietorship business owned by one personwho recieves all the profits
Speculative risk loss, no change, or gain
Strategic risks situations that affect the viability of an organization
Surety bond protects a business when a person fails to fufill a contract
Warranty the seller will replace the broken item
Created by: GabrielRO
Popular Management sets

 

 



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