Business Terms

take-home pay: the amount of pay an employee receives after all the deductions, such as income tax, social security, or pension, contributions.

takeover: the acquisition of one company by another.

talent: people with exceptional abilities, especially a company's most valued employees.

target market: The specific individuals, distinguished by socio-economic, demographic and interest characteristics, who are the most likely potential customers for the goods and services of a business.

target marketing: Selecting and developing a number of offerings to meet the needs of a number of specific market segments.

tariff: a government duty imposed on imports or exports to stimulate or dampen economic activity.

tax: a governmental charge that is not a price for a good or service.

taxable: subject to tax.

tax bracket: a range of income levels subject to marginal tax at the same rate.

tax incentive: a tax reduction afforded to people for particular purposes, for example, sending their children to college.

tax refund: an amount that a government gives back to a taxpayer who has paid more taxes than were due.

tax return: an official form on which a company or individual enters details of income and expenses, used to assess tax liability.

tax shelter: a financial arrangement designed to reduce tax liability.

tax subsidy: a tax reduction that a government gives a business for a particular purpose, usually to create jobs.

T-Bill: a debt instrument of the U.S. government. (Treasury Bill)

team player: somebody who works well within a team.

teamwork: collaboration by a group of people to achieve a common purpose.

telebanking: electronic banking carried out by using a telephone line to communicate with a bank.

telecommute: to work without leaving your home by using telephone lines to carry data between your home and your employer's place of business.

telemarketing: Marketing goods or services directly to the consumer via the telephone.

telephone survey: a research technique in which members of the public are asked a series of questions on the telephone.

tender: to make or submit a bid to undertake work or supply goods at a stated price. A tender is usually submitted in response to an invitation to bid for a work contract in competition with other suppliers.

terms of sale: The conditions concerning payment for a purchase.

terms of trade: a ratio to determine whether the conditions under which a country conducts its trade are favorable or unfavorable.

test marketing: the use of a small-scale version of a marketing plan, usually in a restricted area or with a small group, to test marketing strategy for a new product.

think tank: an organization or group of experts researching and advising on issues of society, science, technology, industry, or business.

trade barrier: a condition imposed by a government to limit free exchange of goods internationally.

trade credit: permission to buy from suppliers on open account.

trade-fair: a commercial exhibition designed to bring together buyers and sellers from a particular market sector.

trademark: an identifiable mark on a product that may be a symbol, words, or both, that connects the product to the trader or producer of that product.

turnkey contract: immediately. an agreement in which a contractor designs, constructs, and manages a project until it is ready to be handed over to the client and operation can begin he conditions concerning payment for a purchase.