Exam: BEC Higher

Definition: To pay off a debt gradually through regular payments, or to spread the cost of an expense over a period of time.

Example: The company decided to amortize the loan over five years to manage their finances better.

Definition: Intended to prevent foreign products from being sold at much lower prices than similar domestic products.

Example: The government implemented antidumping measures to protect local manufacturers from unfair competition.

Definition: A formal evaluation or assessment of something, often related to its value or quality.

Example: The appraisal of the house revealed that it was worth much more than expected.

Definition: A person who evaluates the value of something, often property or goods, to determine its worth.

Example: The appraiser assessed the house to provide an accurate market value.

Definition: A person who evaluates the value of something, often in the context of property or assets.

Example: The apprizer assessed the value of the house before the sale.

Definition: To take advantage of price differences in different markets to make a profit.

Example: Investors often engage in arbitrage to maximize their returns.

Definition: The act of buying and selling assets in different markets to take advantage of price differences and make a profit.

Example: Investors often use arbitrage to capitalize on price discrepancies between markets.

Definition: A person who buys and sells assets in different markets to take advantage of price differences.

Example: The arbitrager made a profit by buying stocks at a lower price in one market and selling them at a higher price in another.

Definition: A useful or valuable thing, person, or quality that can help achieve a goal or provide an advantage.

Example: Her experience in marketing was a great asset to the team.

Definition: Connected or linked with someone or something, often in a supportive or secondary role.

Example: She is an associate member of the organization, which allows her to participate in some activities.

Definition: To spend time with someone in a social way or to be connected with a group or organization.

Example: She likes to associate with her friends during the weekends.

Definition: A person who is connected to another person or group, often in a work or business context, and may share some responsibilities or privileges.

Example: She is an associate at the law firm, working closely with senior attorneys.

Definition: To connect or link something in your mind with something else, often by sharing a common idea or experience.

Example: Many people associate the smell of cookies with happy childhood memories.

Definition: A person or organization that provides assurance or guarantees, often in the context of insurance or financial security.

Example: The assurer evaluated the risks before providing coverage for the property.