Exam: BEC Vantage

Definition: In a manner that relates to a corporation or corporate body.

Example: The companies decided to work corporately to achieve their common goals.

Definition: Relating to a system where economic functions are organized as corporate entities or associated with a corporation.

Example: The corporative model encourages collaboration between businesses and government.

Definition: To change a public organization into one that is owned or controlled by a corporation, often adopting corporate values and practices.

Example: The government decided to corporatize the state-owned enterprise to improve efficiency.

Definition: To require a certain amount of money or effort in order to obtain something.

Example: It costs a lot to travel abroad.

Definition: The estimation of how much money is needed for a process or product.

Example: The costing of the new project was higher than expected.

Definition: To require a certain amount of money to be paid for something.

Example: The new car is costing me a lot of money each month.

Definition: A proposal to offer a different amount of money in response to an earlier offer made by someone else.

Example: The company submitted a counterbid after reviewing the initial proposal from their competitor.

Definition: To make a bid in response to another bid, usually in an auction or negotiation context.

Example: She decided to counterbid after seeing the initial offer was too low.

Definition: To verify something by checking it again or to respond to an action with a counteraction.

Example: Before finalizing the report, I need to countercheck the data for accuracy.

Definition: A response to an initial offer, where the person making the counteroffer proposes different terms instead of accepting the original offer.

Example: After reviewing the job offer, she decided to make a counteroffer with a higher salary.

Definition: A type of international trade where countries exchange goods without using money, often involving a direct swap of products.

Example: The two countries engaged in countertrade to balance their trade deficits.

Definition: The practice of using coupons to save money on purchases by getting discounts or special offers.

Example: Many people enjoy couponing to reduce their grocery bills.