Business Terms

The following terms are used in managing a business. They will be useful for you if you work for a business in China or abroad where English is used. Please study them--they are likely to be on the exam. Make sure you know 1) what the terms mean in a business context, and 2) how to define them using your available English vocabulary.

appreciation
asset
backup
bonus
breach of contract
browser
cash
closing
cold call
compensation
copyright
corporation
credit rating
default
entrepeneur
FAQs
fair use
firewall
foot traffic
interest
invoice
lease
letter of intent
liability
market share
merger
partnership
patent
pay period
power of attorney
press release
profit sharing
public domain
public relations
salary
sexual harassment
stock option
trademark
venture capital
warranty

"The Pig" by Roald Dahl

In England once there lived a big And wonderfully clever pig. To everybody it was plain That Piggy had a massive brain. He worked out sums inside his head, There was no book he hadn't read. He knew what made an airplane fly, He knew how engines worked and why. He knew all this, but in the end One question drove him round the bend: He simply couldn't puzzle out What LIFE was really all about. What was the reason for his birth? Why was he placed upon this earth? His giant brain went round and round. Alas, no answer could be found. Till suddenly one wondrous night. All in a flash he saw the light. He jumped up like a ballet dancer And yelled, "By gum, I've got the answer!" "They want my bacon slice by slice "To sell at a tremendous price! "They want my tender juicy chops "To put in all the butcher's shops! "They want my pork to make a roast "And that's the part'll cost the most! "They want my sausages in strings! "They even want my chitterlings! "The butcher's shop! The carving knife! "That is the reason for my life!" Such thoughts as these are not designed To give a pig great piece of mind. Next morning, in comes Farmer Bland, A pail of pigswill in his hand, And piggy with a mighty roar, Bashes the farmer to the floor… Now comes the rather grizzly bit So let's not make too much of it, Except that you must understand That Piggy did eat Farmer Bland, He ate him up from head to toe, Chewing the pieces nice and slow. It took an hour to reach the feet, Because there was so much to eat, And when he finished, Pig, of course, Felt absolutely no remorse. Slowly he scratched his brainy head And with a little smile he said, "I had a fairly powerful hunch "That he might have me for his lunch. "And so, because I feared the worst, "I thought I'd better eat him first."