Exam: BEC Vantage

Definition: The act of giving something to someone in exchange for money.

Example: The selling of handmade crafts at the market was very successful.

Definition: The action of exchanging goods or services for money.

Example: She is selling her old books at the market.

Definition: A situation where all tickets for an event are sold, meaning no more tickets are available.

Example: The concert was a complete sellout, with every ticket purchased within hours.

Definition: Partly related to business or trade, having both commercial and non-commercial features.

Example: The company launched a semicommercial product that was available to a select group of customers.

Definition: Having some skills but not enough to perform specialized tasks; this term is often used to describe jobs that require limited training and expertise, falling between unskilled and skilled labor.

Example: Many factories hire semiskilled workers for assembly line jobs.

Definition: The status or advantage someone has because they have been in a job or organization longer than others.

Example: In our company, promotions are often based on seniority rather than performance.

Definition: Relating to providing help or assistance, often in a professional context, such as in industries that serve the public or offer maintenance and repairs.

Example: The service industry plays a crucial role in the economy by providing jobs and support to people.

Definition: An action or work done to help someone or provide a benefit, often in a professional context.

Example: The restaurant is known for its excellent service and friendly staff.

Definition: To provide help or assistance to someone or something, often by performing a specific task or function.

Example: The technician will service the equipment to ensure it works properly.

Definition: The quality of being useful or able to be used for a specific purpose.

Example: The serviceability of the equipment was tested before the project began.

Definition: A man who works in the armed forces or is responsible for maintaining and repairing equipment.

Example: The serviceman quickly fixed the broken equipment before the mission started.

Definition: A person or company that provides services, especially in relation to managing loans or obligations by collecting payments and enforcing agreements.

Example: The servicer contacted the borrower to discuss the payment schedule.

Definition: A situation where weaker companies or products are removed from a market, often leading to a decline in overall market values.

Example: The recent shakeout in the tech industry has left many small startups struggling to survive.