| A | B |
|---|
| price ceiling | The upper limit to the amount that can be charged for a specific good or service. |
| need | A good or service that is necessary for the well being of a person or an organization. |
| management | People in an organization that make decisions and interpret policies. |
| interest | An amount of money charged for the use of borrowed money or credit. |
| corporation | Type of business owned by stockholders. |
| on-the-job or co-op training | When students participate in skill development activities while working as an employee, they receive this type of training. |
| finance charges | Costs or fees including interest that are involved in a credit transaction. |
| central processing unit | In reference to computers, what the letters CPU stand for. |
| capitalism/free enterprise | An economic system that allows the means for production and distribution to be privately owned. |
| label | A statement that is attached to a product giving information about its contents. |
| employee theft | Pilferage is another name for this activity. |
| physical inventory | An actual count of the merchandise in stock. |
| personal selling | A salesperson who meets the customers face to face and persuades them to buy. |
| payee | The person to whom a check is written. |
| partnership | When 2 or more people operate a business and share the profits and losses. |
| overtime | Hours worked over the regular 40 hour work week. |
| organization chart | A diagram that shows the positions, responsibilities, and reporting lines of personnel in a business. |
| Cavet Empetor | A term that means "let the buyer beware." |
| buyer | The person who buys the merchndise that a retail store carries in stock for the customers. |
| bank statement | A monthly report issued by a bank showing deposits made, checks written, and other information. |
