Euro

The currency of 12 member nations of the European Union. The Euro was introduced in 1999, when the first 11 countries to adopt it joined together in an Economic and Monetary Union and fixed their currencies' exchange rate to the Euro. Notes and coins were brought into general circulation in January 2002, although banks and other financial institutions had before that time carried out transactions in Euros.

Factor

a variable investigated in a statistical study.  

Exporting

Process of selling goods to other countries.

Export agent

An intermediary who acts on behalf of a company to open up or develop a market in a foreign country. Export agents are often paid a commission on all sales and may have exclusive rights in a particular geographic area. 

Facsimile machine (FAX)

Machine capable of transmitting written input via telephone lines.  

Float

The period between the presentation of a check as payment and the actual payment to the payee.

Expenses

personal costs incurred by an employee in carrying out activities for an organization that are reimbursed by the employer.  

Equity

Definition 1:
A financial investment in a business. An equity investment car­ries with it a share of ownership of the business, a stake in the profits and a say in how it is managed. Equity is calculated by subtracting the lia­bilities of the business from the assets of the business

Definition 2:
An accounting term used to describe the net investment of owners or stockholders in a business. Under the accounting equation, equity also represents the result of assets less liabilities.

Equipment

Physical property of a more or less permanent nature ordi­narily useful in carrying on operations, other than land, buildings or improvements to either of them. Examples are machinery, tools, tracks, cars, ships, furniture and furnishings.

Entrepreneur

An innovator of business enterprise who recognizes opportunities to introduce a new product, a new process or an improved organization, and who raises the necessary money, assembles the factors for production and organizes an operation to exploit the opportunity. 

Exchange controls

The regulations by which a country's banking system controls its residents' or resident companies' dealings in foreign currencies and gold. 

Exchange rate

The rate at which one country's currency can be exchanged for that of another.

Exchange

The process by which two or more parties give something of value to one another to satisfy needs and wants.

Enterprise

A venture characterized by innovation, creativity, dynamism, and risk. An enterprise can consist of one project, or may refer to an entire organization.  

E-business

: The conduct of business on the Internet, including the electronic purchasing and selling of goods and services, servicing customers, and communications with business partners. 

Expense account

Amount of money that an employee or group of employees can draw on to reclaim personal expenses incurred in carrying out activities for an organization. 

Ergonomics

The study of workplace design and the physical and psychological impact it has on workers. Ergonomics is about the fit between people, their work activities, equipment, work systems, and environment to ensure that workplaces are safe, comfortable, efficient, and that productivity is not compromised.  

Excise duty

A tax on goods such as alcohol or tobacco produced and sold within a particular country. 

Earnings

a sum of money gained from employment, usually quoted before tax, including extra reward such as fringe benefits, allowances, or incentives. In business, income or profit from a business, quoted gross or net of tax, which may be retained and distributed in part to the shareholders.

Distribution channel

All of the individuals and organizations involved in the process of moving products from producer to consumer. The route a product follows as it moves from the original grower, producer or importer to the ultimate consumer.

Equal opportunities

The granting of equal rights privileges, and status regardless of gender, age, race, religion, disability, or sexual orientation. Equality in employment is regulated by law in most Western countries. 

E-commerce

The exchange of goods, information products, or services via an electronic medium such as the Internet.

Equity capital

Money furnished by owners of the business.  

Discount

A deduction from the stated or list price of a product or service in relation to the standard price. A discount is a selling technique to encourage customers to buy and is offered for a variety of reasons: for buying in quantity or for repeat buying; as a special offer to move a slow-moving line or for paying by cash, etc.

Downsize

Term currently used to indicate employee reassignment, lay­offs and restructuring in order to make a business more competitive, effi­cient, and/or cost-effective.  

Distributor

Middleman, wholesaler, agent or company distributing goods to dealers or companies.

Direct selling

The process whereby the producer sells to the user, ultimate consumer or retailer without intervening middlemen such as wholesalers, retailers, or brokers. Direct selling offers many advantages to the customer, including lower prices and shopping from home. Potential disadvantages include the lack of after-sales service, an inability to inspect products prior to purchase, lack of specialist advice, and difficulties in returning or exchanging goods.

Depreciation

A decrease in value through age, wear or deterioration. Depreciation is a normal expense of doing business that must be taken into account. There are laws and regulations governing the manner and time periods that may be used for depreciation.

Direct cost

Ma variable cost directly attributable to production. Items that are classed as direct cost include materials used, labor deployed, and marketing budget, and amounts spent will vary with output. 

Deflation

a reduction in the general level of prices sustained over several months, usually accompanied by declining employment and output.