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Essential Words Needed for TOEFL - The Business World

Here you will learn some English words about the business world, such as "agency", "industry", "venture", etc. that are needed for the TOEFL exam.

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Essential Words Needed for TOEFL
human capital
[noun]
one person or a group of people's abilities and strengths, looked at as valuable assets
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marketplace
[noun]
the economical transactions and deals
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commerce
[noun]
the act of buying and selling goods and services, particularly between countries
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agency
[noun]
a business or organization that provides services to other parties, especially by representing them in transactions
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commercial
[adjective]
related to the purchasing and selling of different goods and services
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industry
[noun]
all of the activities, companies, and people that are involved in providing a service or producing goods
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enterprise
[noun]
a company or business
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corporation
[noun]
a company or group of people that are considered as a single unit by law
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human resources
[noun]
(in an organization, company, etc.) a department that is in charge of hiring new employees and training them
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corporate
[adjective]
involving a large company
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start-up
[noun]
a business or company that has just begun operation
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headquarters
[noun]
the place where the main offices of a large company or organization are located
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franchise
[noun]
a permission granted to a person or group by a government or company that enables them to sell their services or products in a specific area
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venture
[noun]
a business activity that is mostly very risky
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strategy
[noun]
an organized plan made to achieve a goal
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to manufacture
[verb]
to produce products in large quantities by using machinery
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machinery
[noun]
machines, especially large ones, considered collectively
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workshop
[noun]
a building or room in which particular goods are made or fixed by different means
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profit margin
[noun]
the difference between the earnings and the costs in a business
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earnings
[noun]
(always plural) money received for work done or services provided
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shareholder
[noun]
a natural or legal person that owns at least one share in a company
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representative
[noun]
someone who works for a company, representing the company's product
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to sponsor
[verb]
to cover the costs of a project, TV or radio program, activity, etc., often in exchange for advertising
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merger
[noun]
the joining of two companies or organizations together to form a larger one
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association
[noun]
an organization of people who have a common purpose
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administration
[noun]
the process and activities required to control and manage an organization
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administrative
[adjective]
related to the directing of an organization or business
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executive
[adjective]
using or having the power to decide on important matters, plans, etc.
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marketing
[noun]
the act or process of selling or advertising a product or service, usually including market research
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branding
[noun]
the promotion of a particular product or company by means of advertising and distinctive design
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promotion
[noun]
the activity of drawing public attention to a service or product in order to help it sell more
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to publicize
[verb]
to dispose information about something, so that it publicly known
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to launch
[verb]
to make a new product or provide a new service and introduce it to the public
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distribution
[noun]
the process of supplying shops and other businesses with products to be sold
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to chair
[verb]
to act as the chairperson of a committee or meeting
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chief technology officer
[noun]
a person of senior rank in charge of a company's technological matters
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entrepreneur
[noun]
a person who starts a business, especially one who takes financial risks
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merchant
[noun]
someone who buys and sells goods wholesale
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chief financial officer
[noun]
a person of the highest authority over a company's financial matters
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chief executive officer
[noun]
the highest-ranking person in a company
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