Key terms & definitions

A good sent back to a business by a customer, for example because it is faulty or does not meet expectations.

A counting rule which multiplies the number of choices at successive stages.

The substances formed by a chemical reaction.

The requirement that a product presents no risk, or only a minimum acceptable level of risk, during normal or reasonably foreseeable use.

A set of requirements that a proposed product should meet and against which design ideas can be judged.

An opportunity for customers to try a product, such as through a free sample or taste, before deciding whether to buy it.

A person who is paid to take part in sport.

A permanent force of trained soldiers who serve as a paid career, rather than an army raised only for a particular war.

The process of making military service a more skilled, organised occupation through training, recognised standards and promotion based more on ability.

Taking part in sport for payment, rather than solely as an unpaid pastime.

A representation of a face or figure viewed from the side.

A test that describes food by scoring how strongly several sensory descriptors, such as crispy, chewy or moist, apply.

The amount of money remaining after the costs of production have been subtracted from the income from sales.

The money remaining from sales revenue after costs have been subtracted.

The amount by which a selling price exceeds its cost price.

The amount by which revenue exceeds total costs over a period. If total costs exceed revenue, the business makes a loss.

The ability of a business to turn revenue into profit, often measured using profit margins.

A financial statement showing a business’s revenue, costs and profit or loss over a period.

Profit expressed as a percentage of sales revenue.

Making the greatest possible difference between sales revenue and total costs.

The transfer of profits earned overseas back to the company's home country.

A scheme that gives employees a share of the business’s profits.

Extravagant or wasteful; in Love, it describes the newborn’s outpouring of heat.

An ovarian hormone that maintains the uterus lining after ovulation and inhibits FSH and LH.

A hormone produced by the ovaries after ovulation that maintains the uterus lining and inhibits FSH and LH.

A synthetic hormone that acts like progesterone.

A hormone with effects similar to progesterone, used in hormonal contraception.

An implementation of an algorithm written in a particular programming language, which can be translated into a form a computer can execute.

The CPU register that holds the memory address of the next instruction to be fetched.

An electronic component whose operation can be set or changed by loading a program of instructions.