Terms used in trade such as Pyramid Selling ,qualified lead,Quality assurance,Quality,Quantity Surveyor etc.


The terms used in business such as Pyramid Selling ,qualified lead,Quality assurance,Quality,Quantity Surveyor etc.


This post explains about terms used in business such as Purchase Ledger, Purchaser,Purchasing Officer,Pyramid Scheme,Pyramid Selling ,qualified lead,Quality assurance,Quality,Quantity Surveyor etc. These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.


The terms used in business


Punitive Damages - Damages awarded, over and above general damages, by a court of law against a defendant who has committed a malicious act which has resulted in injury to a person or damage to property, in order to deter the defendant from committing similar acts in future.


Purchase Ledger - A record of a company's accounts which shows amounts owed to suppliers for items purchased on credit.


Purchase Agreement:  The document that defines the terms of a business sale, executed by both seller and buyer


Purchase Price Allocation:  The manner in which the purchase price of a business  is divided between seller and buyer for taxation purposes


The terms used in  business such as Pyramid Selling ,qualified lead,Quality assurance,Quality,Quantity Surveyor etcPurchaser:The government department or agency that is requesting goods or services from a supplier.


Purchasing Agent - Someone who buys goods in his or her country on behalf of foreign buyers.


Purchasing Officer - A company employee who is responsible for the purchasing of equipment, materials and services from suppliers and contractors.


Purchasing Power - Also called spending power, the amount of goods or services which can be purchased with a particular currency, or more generally, the amount of money a person or group has available to spend on goods and services. The term may also emphasise a group or organization's ability to achieve heavily discounted prices or rates due to the high buying volumes.


Purchasing Power Parity (PPP) - The principle that equivalent assets sell for the same price. Purchasing power parity is a measurement of a currency's value based on the buying power within its own domestic economy.


Purchasing:The acquisition process for goods, services and capital projects through purchasing, leasing and licensing. The definition of 'purchasing' extends to standing offer or similar arrangements by which terms and conditions of purchase are determined.


Pure Play - Term that relates to a company which deals in one specific line of business, rather than a range of products, services, etc.


Purveyor - A company or person who supplies provisions, especially food.


Push System - In production, a system in which the demand for goods is predicted by the company, so more goods are made to keep up with pre-set levels rather than customer demand.


Put Option - An option in a contract giving the holder the right to sell shares, materials, etc., at a specified price at, or up to, a fixed date.


Pyramid Scheme - Illegal in several countries, a scheme in which people are paid for recruiting others who pay a fee, part of which goes to the person who recruited them as a commission. In order to get their payment the recruits then have to find new recruits to pay a fee. This goes on until there is no one left to recruit and the people who come into the scheme last end up losing their money. The difference between Pyramid Selling and a Pyramid Scheme is that is that the latter has no product. (See Ponzi Scheme)


Pyramid Selling - A system in which people buy the rights (often a franchise) to sell a company's products to other distributors who have been recruited, who then sell the products on to other recruits. This type of selling often ends up with no final buyer for the products. The few people at the top of the pyramid commonly make a lot more money than the many people at the bottom.


Qualification / Qualification :Measurement and value control of an address in a given file. The “qualification” of a prospect also means to measure his interest in the proposed offer. A method consists of including some questions in the response part of the mailing (“qualification questionnaire”).


qualification payment: an additional payment sometimes made to employees of New Zealand companies, who have gained an academic qualification relevant to their jobs.


qualified lead: a sales prospect whose potential value has been carefully evaluated through research


Qualified Opinion - A statement written by an independent auditor which accompanies a business's financial statements, saying that the audit has been limited, e.g., because the auditor may not have been able to collect all the information required to carry out a full audit.


Qualifying Period - The length of time an employee must serve in a job before being entitled to various benefits, or being able to make a claim against unfair dismissal.


Qualitative - Associated with a thing's quality which cannot be measured, such as feel, image, taste, etc. Describes peoples qualities which cannot be measured, such as knowledge, behaviour, attitude, etc.


Qualitative market research / Etude Qualitative :The examination of people's attitude towards what, where and how much they buy.


Quality / Qualité :Set of properties and characteristics features of a product or service that confer upon it the capacity to satisfy expressed and implicit needs.


Quality - An attribute or level of excellence. The standard of a product, service, etc., as measured against similar products, services, etc. A distinctive characteristic or attribute possessed by someone or something.


Quality Assurance - QA. A system in which the delivery of a service or the quality of a product is maintained to a high standard, especially by means of attention to every stage of the process.


Quality assurance (QA):Managing business processes in such a way that both the supplier and customer are satisfied with the quality and consistency of the goods or services being produced or provided. The International Standards Organisation (ISO) 9000 series of quality system standards sets out internationally agreed processes for achieving quality, consistency and satisfaction.


Quality Circle - Originating in Japan, a group of workers in a company who meet regularly to discuss ways in which to improve working conditions for employees and productivity for the company.


quality: all the features and characteristics of a product or service that affect its ability to meet stated or implied needs.


Quantitative market research / Etude Quantitative :A study of the demand for certain products by finding out the number of possible clients.


Quantitive Restrictions (QR) - Restrictions on trade, generally in the form of quotas, that limit the quantity o a good or service that can be imported or exported. Another form of quantity restriction is a VER, or Voluntary Export Restraint.


Quantitive/Quantitative - Related to or measured in numbers. Comparison based on quantity rather than quality.


Quantity Surveyor - In the UK, a professional who works in the construction industry, whose job is to calculate the cost of materials, labour, etc., needed to complete a project.


Quarantine / Quarantaine :The period during which an arriving vessel, including its equipment, cargo, crew or passengers, suspected to carry or carrying a contagious disease is detained in strict isolation to prevent the spread of such a disease. Quay (= Pier) Part of a wharf which is intended for the mooring of vessels.


Quarter Day - In the UK, a fixed day of each quarter of the year on which certain payments, such as rents, are due.


Quasi Partner:A partner who after retirement from partnership business loans his capital in the firm and receives interest thereon varying with profits is known as a gqusi partner. Such a partner is entitled to receive dues quasi the firm after all outside creditors has been paid in full.


Quatation:It refers to the statement of the price and the terms and conditions upon which the seller is willing to sell the goods.


The above details describes about terms called in business such as Purchase Ledger, Purchaser,Purchasing Officer,Pyramid Scheme,Pyramid Selling ,qualified lead,Quality assurance,Quality,Quantity Surveyor etc. These phrases may help importers and exporters on their day to day business activities. The readers can also add more information about terms used in overseas trade below this post.Terms used in trade such as Psychographics,Public Company,Public Enterprise,Puff etc.

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