Complete the following definitions by inserting a suitable category word from the box.
114 Part 2: Elements of Writing
organisation period financial instrument loan agreement costs(a) A mortgage is a type of ___ used for buying property in which the
lender has the security of the property.
(b) A multinational company is a business ___ that operates in various
countries.
(c) A recession is a ___ of negative economic growth.
(d) A cartel is an ___ between a group of companies for the purpose of
price-fixing.
(e) Overheads are the fixed ___ of a business, not related to production.
(f) A bond is a ___ offering a fixed rate of return over a limited period.
Write definitions for the following:
(g) A trades union ___.
(h) A monopoly ___.
(i) Marketing ___.
(j) A dividend ___.
(k) A hostile takeover ___.
2 Complex definitions
The following examples illustrate the variety of methods that can be used in giving definitions.
Study the examples and underline the term being defined.
(a) The definition for a failed project ranges from abandoned projects to projects that
do not meet their full potential or simply have schedule overrun problems.
(b) Development is a socio-economic-technological process having the main objective
of raising the standard of living of the people.
(c) Electronic commerce is characterised by an absence of physical proximity between
the buyer and seller in conducting the search, assessment and transaction stages of
a transaction.
(d) Corporate governance is a set of mechanisms, both institutional and market-based,
designed to mitigate agency problems that arise from the separation of ownership
and control in a company.