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Business and Finance - Business Transactions

Study terms related to purchasing, pricing, discounts, orders, shipping, imports, exports, duties, merchandise, and supply chains.

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Words Related to Business and Finance
to buy
to buy
[Verb]

to get something in exchange for paying money

Ex: I need to buy groceries for dinner tonight. 
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to charge
to charge
[Verb]

to ask a person to pay a certain amount of money in return for a product or service

Ex: The hotel may charge for additional services beyond the room rate. 
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price
price
[noun]

the amount of money required for buying something

Ex: He checked the price of the flight online. 
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cost
cost
[noun]

an amount we pay to buy, do, or make something

Ex: He compared the cost of various insurance plans. 
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to spend
to spend
[Verb]

to use money as a payment for services, goods, etc.

Ex: She spent a lot on gifts for her family during the holiday season. 
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spending
spending
[noun]

the amount of money used, particularly by a government or organization

Ex: They recorded their spending to understand their financial situation better. 
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discount
discount
[noun]

the amount of money that is reduced from the usual price of something

Ex: They offered a discount of 20% on all winter clothing. 
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coupon
coupon
[noun]

a small piece of document that is used for buying things with a lower price

Ex: He forgot to bring the coupon to the supermarket. 
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bargain
bargain
[noun]

an item bought at a much lower price than usual

Ex: She found a great bargain on shoes during the sale. 
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auction
auction
[noun]

a public sale in which goods or properties are sold to the person who bids higher

Ex: The painting was sold at an auction for a record-breaking price. 
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export
export
[noun]

commodities, goods, or services sold and sent to another country

Ex: The country's main export is coffee. 
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import
import
[noun]

commodities or services purchased from another country

Ex: The nation increased its import of raw materials. 
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checkout
checkout
[noun]

the process of completing a purchase or transaction, especially in a store, online, or at the end of a service, including payment and verification of items or details

Ex: The checkout process at the grocery store was fast today. 
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consumer spending

the total amount spent by consumers on goods and services, often measured as a share of GDP

Ex: Consumer spending rose by 3% last quarter, boosting economic growth. 
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duty
duty
[noun]

a government-imposed tax on imported or exported goods

Ex: The duty on electronics has increased, making imports more expensive. 
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duty-free
duty-free
[Adjective]

(of goods) able to be imported without paying tax on them

Ex: Travelers often take advantage of duty-free shopping at airports to purchase luxury items at discounted prices. 
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expensive
expensive
[Adjective]

having a high price

Ex: He bought an expensive watch as a gift for his father. 
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receipt
receipt
[noun]

a written or printed document that shows the payment for a set of goods or services has been made

Ex: I couldn't read the faded print on the receipt. 
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reduction
reduction
[noun]

a decline in amount, degree, etc. of a particular thing

Ex: The company implemented cost-cutting measures that led to a reduction in expenses. 
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trading
trading
[noun]

the practice of buying and selling goods

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order
order
[noun]

a request for a specific item or service to be provided

Ex: He made a mistake on his order and had to correct it. 
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pre-order
pre-order
[noun]

an order placed before the product is available for sale

Ex: The store received a large number of pre-orders for the highly anticipated video game. 
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to fulfill

to pack and ship a customer's order

Ex: The warehouse fulfilled over 500 orders today. 
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to ship
to ship
[Verb]

to transport goods or individuals via ships or vessels

Ex: The company decided to ship the newly manufactured cars to international markets using cargo ships. 
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shipping
shipping
[noun]

the act of transporting goods, particularly by sea

Ex: The shipping of goods from Asia to Europe has become more efficient with advancements in maritime technology. 
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merchandise

goods offered for sale or the ones bought or sold

Ex: The store's merchandise includes clothing, accessories, and home decor items. 
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down payment

an initial partial payment made at purchase, with the remaining balance due later

Ex: She made a 20% down payment on the house and financed the rest. 
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supply chain

the sequence of processes, organizations, people, activities, information, and resources involved in producing and delivering a product or service from its origin to the final customer

Ex: Disruptions in the global supply chain caused delays in product delivery. 
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