Economy and Business Terms - Charlie, your teacher of English
attributes (benefits, features, functions, uses) that a seller offers a buyer for purchase. For example
a seller of a toothbrush not only offers the physical product but also the idea that the consumer will
be improving the health of their teeth.
2.In Law: It is a commercially distributed good that is (1) tangible personal property, (2) output or
result of a fabrication, manufacturing, or production process, and (3) passes through a distribution
channel before being consumed or used.
Profit: It's a company's total revenue less its operating expenses, interest paid, depreciation, and
taxes. For example, suppose a widget manufacturer earns $1,000,000 in total revenue. The widgets
cost $200,000 to make and his administrative and payroll expenses total $250,000. He also must
subtract $50,000 in depreciation on his widget manufacturing equipment and pay $200,000 in taxes.
His net income is stated as: $1,000,000 - $200,000 - $250,000 - $50,000 - $200,000 = $300,000.
Project Dashboards: In today's busy organizations, project and program managers need to know
exactly how the projects they're responsible for are doing. But they also rarely have the time to read
through detailed status reports covering all aspects of the project. With a Project Dashboard you no
longer have to wade through 3 different reports to determine whether the production department
received the widgets it needed, and got permission to hire its new employees. Instead, if the
widgets had arrived but a decision on staffing was pending, you would see that the Materials gauge
was in the optimum zone and that the Human Resources gauge was registering in the warning
zone.
Promisee: It is a person to whom a promise has been made. 2. In general a promisee can maintain
an action on a promise made to him, but when the consideration moves not from the promisee, but
some other person, the latter, and not the promisee, has a cause of action, because he is the
person for whose use the contract was made.
Promisor: 1. It is one who makes a promise. 2. The promisor is bound to fulfill his promise, unless
when it is contrary to law, as for example a promise to steal or to commit an assault and battery;
when the fulfillment is prevented by the act of God, as where one has agreed to teach another
drawing and he loses his sight, so that he cannot teach it; when the promisee prevents the
promisor from doing what he agreed to do; when the promisor has been discharged from his
promise by the promisee, when the promise, has been made without a sufficient consideration;
and, perhaps, in some other cases, the duties of the promisor are at an end.
Promotion: 1.In terms of a career, a promotion refers to the advancement of an employee's rank or
position in a hierarchical structure.
2. In sales, promotion refers to a different sort of advancement. A sales promotion entails the
features - via advertising and/or a discounted price - of a particular product or service.
Proviso: It's a condition, stipulation, or limitation inserted in a document. A condition or a provision
in a deed, lease, mortgage, or contract, the performance or non-performance of which affects the
validity of the instrument. It generally begins with the word provided. A proviso clause in a statute
excepts something from statutory requirements, qualifies the statute, or prevents some potential
area of misinterpretation from being included.
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