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Business Simulations Lesson 2 Vocabulary

AB
Inventory"The total amount of goods a business has."
Purchasing Policy"policy specifying the amount to purchase of a product and when to purchase it.
Just-in-time Inventory"A system that links a store to suppliers so that new inventory can be purchased automatically."
Reorder Point"a number that indicates that new product should be purchased when inventory falls below a certain point."
Shrinkage"The money a business loses due to broken, damaged, expired, or stolen inventory."
Opinion"An expression of one's beliefs regarding a certain issue."
Survey"To question a person or group of people in order to gather information or opinions for the purpose of evaluating a certain group or area characteristics."
Segment"A group of people having something in common."
CompensationPayment
Workload"Is the quantity of work that is allocated to an employee and is usually expected to be completed within a certain time period."


Business Teacher
Willard High School
Willard, OH

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