Year 9 WJEC Business: Vocabulary and Terminology Quick Guide | 九年级 WJEC 商务词汇术语速记指南

📚 Year 9 WJEC Business: Vocabulary and Terminology Quick Guide | 九年级 WJEC 商务词汇术语速记指南

Mastering key business terms is the first step towards understanding how businesses operate and succeed. For Year 9 WJEC Business students, building a strong vocabulary foundation helps you tackle exam questions with confidence, interpret case studies accurately, and develop the analytical skills needed for higher grades. This guide breaks down the essential terminology into manageable topic areas, with simple definitions, examples, and memory aids to make revision efficient and effective.

掌握关键的商务术语是理解企业如何运营和成功的第一步。对于九年级 WJEC 商务学生来说，打下扎实的词汇基础有助于自信地应对考试题目、准确解读案例分析，并培养获得高分所需的分析能力。本指南将核心术语按主题领域分解，配以简单的定义、示例和记忆辅助，使复习高效而有效。

1. Types of Business & Ownership | 企业类型与所有权

Businesses can be classified by their ownership structure. A sole trader is a business owned and run by one person. This individual takes all the profits but also bears unlimited liability, meaning personal assets are at risk if the business fails. In contrast, a partnership involves two or more owners sharing responsibility, profits, and liability. Larger firms may form a private limited company (Ltd), which has a separate legal identity from its owners. Shareholders enjoy limited liability, meaning they only risk losing the amount they invested. A public limited company (Plc) can sell shares to the public on the stock exchange. Finally, a franchise allows one business to trade under the name and system of an established brand in return for a fee and royalties.

企业可以按其所有权结构分类。个体经营者是由一个人拥有和经营的企业。此人获得所有利润，但承担无限责任，这意味着如果企业失败，个人资产也会面临风险。相比之下，合伙企业涉及两个或更多所有者共同分担责任、利润和债务。较大的公司可能组成私人有限公司 (Ltd)，该公司在法律上独立于其所有者。股东享有有限责任，即他们仅承担其投资的损失风险。公众有限公司 (Plc) 可以向公众在证券交易所出售股票。最后，特许经营允许一家企业以某个知名品牌的名称和体系进行经营，作为回报需要支付加盟费和特许权使用费。

Sole trader – a business owned and operated by one person / 个体经营者 – 由一个人拥有和经营的企业
Partnership – a business owned by two or more people who share profits and liabilities / 合伙企业 – 由两个或以上共同分享利润和债务的人拥有的企业
Limited liability – the legal protection where owners’ personal assets are not at risk beyond their investment / 有限责任 – 一种法律保护，所有者的个人资产不承担超出其投资额的风险
Unlimited liability – owners are personally responsible for all the debts of the business / 无限责任 – 所有者个人对企业的全部债务负责
Franchise – the right given by one company to another to sell its products/services / 特许经营 – 一家公司授予另一家公司销售其产品或服务的权利
Public limited company (Plc) – a company whose shares can be bought and sold on the stock market / 公众有限公司 – 其股票可在股票市场上买卖的公司

2. Entrepreneurship & Innovation | 企业家精神与创新

An entrepreneur is someone who takes the initiative and risk of starting a new business venture. They spot gaps in the market where customer needs are not being fully met, and they organise resources – land, labour, capital – to create products or services. Innovation is closely linked: a product innovation might be a completely new gadget like the first smartphone, while a process innovation makes production faster or cheaper, such as introducing automation. Entrepreneurs also add value by transforming raw materials into goods that customers are willing to pay more for; this is called adding value. The reward for taking these risks is profit, but if the idea fails, the entrepreneur bears the loss.

企业家是指主动承担风险创办新企业的人。他们发现市场中客户需求未被完全满足的市场空白，并组织资源——土地、劳动力、资本——来创造产品或服务。创新与之紧密相连：产品创新可能是像第一部智能手机那样的全新发明，而流程创新使生产更快或成本更低，例如引入自动化。企业家还通过将原材料转化为消费者愿意支付更高价格的商品来增值，这被称为增值。承担这些风险的回报是利润，但如果想法失败，企业家则要承担损失。

Entrepreneur – a person who starts and runs a business, taking on financial risk / 企业家 – 创办和经营企业并承担财务风险的人
Gap in the market – an unmet consumer need that a business can exploit / 市场空白 – 未被满足的、企业可开发利用的消费需求
Adding value – increasing the worth of a product by enhancing it in some way / 增值 – 通过某种方式改进产品以增加其价值
Innovation – the introduction of something new, either a product or a method / 创新 – 引入新事物，可以是产品或方法

3. Markets & Demand | 市场与需求

A market is any place – physical or online – where buyers and sellers meet to exchange goods or services. The demand for a product is the quantity that customers are willing and able to buy at a given price. Normally, as price falls, demand rises, and vice versa. This is shown on a demand curve. Several factors shift demand: changes in consumer tastes or fashion, income levels, the price of substitute products (goods that can be used in place of another), and complementary products (goods used together). A business must identify its target market – the specific group of consumers it aims to serve – to tailor its marketing effectively.

市场是任何场所——实体的或线上的——买卖双方聚集交换商品或服务的地方。对产品的需求是指消费者在给定价格下愿意并有能力购买的数量。通常，价格下降，需求上升，反之亦然。这体现在需求曲线上。有若干因素会移动需求：消费者品味或时尚的变化、收入水平、替代品（可替代另一商品的产品）的价格，以及互补品（一起使用的商品）的价格。企业必须确定其目标市场——其旨在服务的特定消费群体——以便有效地定制营销。

Market – any arrangement that allows buyers and sellers to exchange things / 市场 – 允许买卖双方进行交换的任何机制
Demand – the quantity of a product consumers are willing and able to buy / 需求 – 消费者愿意并能够购买的产品数量
Substitute – a product that can be used instead of another, e.g. tea and coffee / 替代品 – 可替代另一产品的东西，如茶和咖啡
Complement – a product used together with another, e.g. printers and ink cartridges / 互补品 – 与另一种产品一起使用的东西，如打印机和墨盒
Target market – the segment of the market a business focuses on / 目标市场 – 企业所聚焦的细分市场

4. Marketing Mix | 营销组合

The marketing mix is often summarised as the 4 Ps: Product, Price, Place, and Promotion. Product refers to the good or service designed to meet customer needs, including its features, quality, and packaging. Price is the amount customers pay; pricing strategies include cost-plus pricing (adding a percentage to the cost of production) and competitive pricing (setting prices in line with rivals). Place covers how the product reaches the customer – distribution channels such as retailers, wholesalers, or direct online sales. Promotion involves all methods of communication with customers, like advertising, sales promotions, public relations, and social media campaigns. A successful business blends these four elements coherently.

营销组合通常归纳为4P：产品、价格、渠道和促销。产品指为满足客户需求而设计的商品或服务，包括其特性、质量和包装。价格是顾客支付的金额；定价策略包括成本加成定价法（在生产成本上加一个百分比）和竞争性定价（根据竞争对手设定价格）。渠道涵盖产品如何到达顾客手中——分销渠道如零售商、批发商或直接的线上销售。促销涉及所有与顾客沟通的方法，如广告、销售促销、公共关系和社交媒体活动。成功的企业会将这四个要素协调地融合在一起。

Marketing mix – the combination of product, price, place, and promotion to meet customer needs / 营销组合 – 产品、价格、渠道和促销的结合以满足客户需求
Cost-plus pricing – adding a fixed percentage profit to the cost of making a product / 成本加成定价法 – 在产品生产成本上添加固定的百分比利润
Place (distribution channel) – the route a product takes from producer to consumer / 渠道（分销渠道） – 产品从生产者到消费者的路径
Promotion – activities to raise customer awareness and persuade them to buy / 促销 – 提升顾客认知并说服其购买的活动

5. Finance Terms | 财务术语

Financial vocabulary is crucial for analysing business performance. Revenue (or turnover) is the total income from sales before any costs are deducted. It is calculated as price per unit multiplied by quantity sold. Costs are the expenses a business incurs. Fixed costs remain the same regardless of output, such as rent and salaries. Variable costs change directly with production, like raw materials. Profit is what remains after all costs are subtracted from revenue. A break-even point is the level of output where total revenue equals total costs, meaning the business makes neither a profit nor a loss. Cash flow is the movement of money into and out of the business; a positive cash flow means more money is coming in than going out.

财务词汇对分析企业表现至关重要。收入（或营业额）是扣除任何成本之前的销售总收入。其计算公式为单价乘以销售数量。成本是企业发生的费用。固定成本无论产量多少都保持不变，如租金和工资。可变成本直接随生产变化，如原材料。利润是从收入中减去所有成本后的剩余。盈亏平衡点是总收入等于总成本的产出水平，意味着企业既不盈利也不亏损。现金流是资金流入和流出企业的运动；正现金流意味着流入的资金多于流出的资金。

Revenue – money coming into a business from sales, before costs / 收入 – 扣除成本前通过销售进入企业的资金
Fixed costs – costs that do not change with the level of output, e.g. rent / 固定成本 – 不随产量水平变化的成本，如租金
Variable costs – costs that vary directly with output, e.g. raw materials / 可变成本 – 直接随产量变化的成本，如原材料
Break-even – the point where total revenue equals total costs / 盈亏平衡 – 总收入等于总成本的点
Cash flow – the flow of money into and out of a business over a period / 现金流 – 在一段时间内资金流入和流出企业的情况

6. Costs & Profit | 成本与利润

Understanding the difference between direct costs and indirect costs helps businesses price accurately. Direct costs are directly related to the production of a specific product, like the flour for a bakery. Indirect costs (or overheads) are general expenses not easily traced to one product, such as electricity for the whole factory. Gross profit is revenue minus the cost of goods sold (direct costs). Net profit deducts all other expenses, including indirect costs, taxes, and interest. A business can improve profitability by increasing sales revenue or reducing costs without sacrificing quality. Profit margin is a ratio showing what percentage of revenue turns into profit, often calculated as net profit divided by revenue multiplied by 100.

理解直接成本和间接成本的区别有助于企业准确定价。直接成本与特定产品的生产直接相关，如面包店的面粉。间接成本（或经常开支）是不容易追溯到某一产品的一般费用，如整个工厂的电费。毛利润是收入减去销售成本（直接成本）。净利润则扣除所有其他费用，包括间接成本、税收和利息。企业可以通过增加销售收入或在保证质量的同时降低成本来提高盈利能力。利润率是一个比率，显示收入中有多少百分比转化为利润，通常以净利润除以收入乘以100计算。

Direct costs – expenses that can be directly linked to a product / 直接成本 – 可以直接联系到某一产品的费用
Indirect costs (overheads) – general running costs of the business / 间接成本（经常开支） – 企业的日常运营成本
Gross profit – revenue minus cost of goods sold / 毛利润 – 收入减去销售成本
Net profit – the final profit after all expenses are deducted / 净利润 – 扣除所有费用后的最终利润
Profit margin – (net profit / revenue) x 100 / 利润率 – （净利润 / 收入）x 100

7. Human Resources Basics | 人力资源基础

The human resources (HR) function manages the people within an organisation. Recruitment is the process of attracting, screening, and selecting qualified candidates for a job. Internal recruitment hires from within the existing workforce, which can boost morale and is cheaper. External recruitment brings new candidates into the business, offering fresh ideas. A job description outlines the duties and responsibilities, while a person specification describes the skills, qualifications, and experience needed. Once employed, training improves employees’ skills: on-the-job training takes place at the workplace, and off-the-job training happens away from the work environment. Motivation is essential for productivity and can be influenced by both financial rewards like bonuses, and non-financial factors such as recognition.

人力资源职能管理组织中的人员。招聘是吸引、筛选和选择合格职位候选人的过程。内部招聘从现有员工中选拔，可以提升士气且成本更低。外部招聘将新候选人引入企业，带来新想法。职位描述概述职责和责任，而人员规格描述所需的技能、资格和经验。受雇后，培训提高员工技能：在职培训在工作场所进行，脱产培训则在工作环境之外进行。激励对生产力至关重要，可受经济奖励如奖金，以及非经济因素如认可的影响。

Recruitment – the process of finding and hiring the best-qualified person for a job / 招聘 – 寻找并雇用最适合职位人选的过程
Internal recruitment – filling vacancies from within the business / 内部招聘 – 从企业内部填补空缺
On-the-job training – learning skills while doing the job at the workplace / 在职培训 – 在工作场所边工作边学习技能
Motivation – the factors that drive people to work hard and achieve goals / 激励 – 驱使人们努力工作和实现目标的要素

8. Production & Operations | 生产与运营

Production methods affect efficiency and quality. Job production involves creating a single unique product for a specific customer, such as a tailor-made suit. This method is labour-intensive and high-cost but allows high customisation. Batch production makes a group of identical products together, like baking a batch of bread rolls, which allows some variety and flexibility. Flow production (also called mass production) involves continuous manufacturing on an assembly line, suited to high-volume, standardised products like cars. Businesses aim for efficiency – using the minimum inputs to produce maximum output. Lean production techniques, such as just-in-time stock control, reduce waste by ensuring materials arrive only as needed, cutting storage costs.

生产方法影响效率和质量。单件生产涉及为特定客户制作单一独特的产品，如定制西装。此方法劳动密集且成本高，但可实现高度定制。批量生产是一起生产一组相同的产品，如烘焙一批面包卷，这提供了多样性和灵活性。流水生产（也称大规模生产）涉及在装配线上连续制造，适用于高产量、标准化的产品如汽车。企业追求效率——使用最少的投入来生产最大的产出。精益生产技术，如准时制库存控制，通过确保原材料仅在需要时到达来减少浪费，降低储存成本。

Job production – making one-off, customised products to order / 单件生产 – 按订单制作一次性、定制化的产品
Batch production – making a group of identical items together / 批量生产 – 一起生产一组相同的物品
Flow production – continuous production of standardised goods on a line / 流水生产 – 在线上持续生产标准化商品
Lean production – approaches to minimise waste and maximise efficiency / 精益生产 – 最小化浪费、最大化效率的方法

9. Business Environment | 商业环境

Every business operates within a wider environment that creates opportunities and threats. The PESTLE analysis framework helps to examine Political, Economic, Social, Technological, Legal, and Environmental factors. For example, a change in government policy – such as an increase in corporation tax – can affect profits. Economic factors like inflation (a rise in the general price level) and interest rates impact consumer spending and business borrowing costs. Social trends, such as the move towards healthy eating, can open new markets. Legal restrictions, including employment law and consumer protection regulations, require businesses to operate fairly. Environmental concerns push firms towards sustainability, using resources in a way that does not harm future generations.

每个企业都在更广阔的环境中运营，环境带来机遇和威胁。PESTLE分析框架有助于考察政治、经济、社会、技术、法律和环境因素。例如，政府政策的变化——如增加企业税——会影响利润。经济因素如通货膨胀（一般价格水平上涨）和利率影响消费者支出和企业借贷成本。社会趋势，如转向健康饮食，可以开辟新市场。法律限制，包括就业法和消费者保护法规，要求企业公平经营。环境问题推动企业走向可持续性，即在不损害后代的情况下使用资源。

PESTLE analysis – a tool to analyse external factors: Political, Economic, Social, Technological, Legal, Environmental / PESTLE分析 – 分析外部因素的工具：政治、经济、社会、技术、法律、环境
Inflation – a sustained rise in the general price level / 通货膨胀 – 一般价格水平的持续上涨
Interest rate – the cost of borrowing money or the reward for saving / 利率 – 借贷成本或储蓄回报
Sustainability – meeting present needs without compromising future generations’ ability to meet theirs / 可持续性 – 满足当前需求而不损害后代满足其需求的能力

10. Globalisation & Ethics | 全球化与伦理

Globalisation refers to the increasing integration of economies and societies around the world through trade, investment, and technology. For businesses, it opens access to larger markets and cheaper supply chains, but also increases competition. Multinational corporations (MNCs) are companies that operate in more than one country, such as Nike or Apple. Ethical business behaviour means doing what is morally right, often going beyond legal requirements. This can include paying fair wages, avoiding child labour, and reducing environmental damage. Some firms adopt Fairtrade practices, guaranteeing producers in developing countries a minimum price for their products. Corporate social responsibility (CSR) is the idea that businesses should consider the interests of all stakeholders – workers, communities, the environment – not just shareholders.

全球化指世界经济和社会通过贸易、投资和技术日益融合。对企业而言，它打开了更大的市场和更便宜的供应链渠道，但也增加了竞争。跨国公司是在多个国家运营的公司，如耐克或苹果。道德商业行为意味着做符合道义的事情，往往超越法律要求。这可以包括支付公平的工资、避免使用童工和减少环境破坏。一些公司采用公平贸易做法，确保发展中国家的生产者获得最低价格保障。企业社会责任的理念是，企业应考虑所有利益相关者的利益——工人、社区、环境——而不仅仅是股东。

Globalisation – the process by which businesses develop international influence / 全球化 – 企业发展国际影响力的过程
Multinational – a company with operations in more than one country / 跨国公司 – 在多个国家经营的公司
Ethics – moral principles guiding business decisions / 伦理 – 指导商业决策的道德原则
Fairtrade – a movement ensuring producers in poorer countries receive fair prices / 公平贸易 – 确保较贫穷国家的生产者获得公平价格的运动
Corporate social responsibility (CSR) – the duty of a business to contribute to the well-being of society / 企业社会责任 – 企业为社会福祉做贡献的义务

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Year 9 WJEC Business: Vocabulary and Terminology Quick Guide | 九年级 WJEC 商务词汇术语速记指南