Exam: BEC Higher

Definition: The process of separating a product or service into individual parts and pricing them separately instead of as a whole.

Example: The unbundling of services allowed customers to choose only what they needed.

Definition: Not behaving in a professional or efficient manner, especially in a business context.

Example: His unbusinesslike approach to the project caused delays and confusion.

Definition: Not yet presented for payment or not redeemed.

Example: I have several uncashed checks that I need to deposit soon.

Definition: Something that cannot be collected or recovered, often referring to debts or payments that are unlikely to be received.

Example: The company had to write off several uncollectible accounts from their financial records.

Definition: Not involved in trade or business activities; not intended for profit.

Example: The uncommercial nature of the project made it difficult to secure funding.

Definition: To offer a price that is lower than what is reasonable or expected, often in a competitive situation.

Example: The contractor decided to underbid on the project to win the contract.

Definition: To offer a lower price than someone else in a bidding situation.

Example: The contractor decided to underbid his competitors to win the project.

Definition: A person who places a bid in an auction that is lower than another bid, often being the second-highest bidder.

Example: In the auction, the underbidder was disappointed when the winning bid exceeded his offer.

Definition: Having a job that does not provide enough work hours or is not suitable for one's skills and qualifications.

Example: Many graduates find themselves underemployed, working in jobs that do not match their education level.

Definition: People who are working in jobs that do not fully utilize their skills or abilities, often because they are working part-time or in positions that do not match their qualifications.

Example: Many underemployed individuals are seeking full-time work that matches their education and experience.

Definition: The situation where a person is working less than they would like or in jobs that do not use their skills fully.

Example: Many graduates face underemployment after finishing their studies, as they struggle to find jobs that match their qualifications.

Definition: Having inadequate insurance coverage to protect against potential losses or damages.

Example: Many people are underinsured and may face financial difficulties in case of an emergency.