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Bank/Banker’s Acceptance
A draft or bill of
exchange drawn on a bank and acknowledged
as valid by that bank.
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Bankruptcy
A legal proceeding whereby a person
or organization seeks relief from payment of
all or part of their debts.
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Bar Code
A pattern of numbers and parallel bars
(read by a handheld device) that represent
specific items and are used to manage
inventory.
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Bargaining
In a negotiation, discussion or
persuasion that can lead to changes in initial
assumptions and positions with respect to
price, schedule, technical requirements, or
contract terms.
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Bargaining Unit
A specific group of employees
represented by a union. A group of employees
who collectively negotiate with management
for wage and benefit enhancements.
(Business 2002)
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Barriers to Entry
Obstacles (such as high start-up
costs, intellectual property, or tariffs) that may
prevent new suppliers from entering the
marketplace.
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Barter
1. A medium of exchange that does not use
currency.
2. Trading or exchanging goods and services by
means of exchange other than money.
3. A form of countertrade used in international
business.
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Basis Point
One hundredth of one percent;
primarily used to indicate incremental
movements in interest or exchange rates.
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Battle of the Forms
A colloquial reference to
various forms that are exchanged between
buyer and seller (i.e., the contracting parties)
to have their document prevail in the event of
a disagreement. See also: Acknowledgement.
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Bear Market
An economy experiencing a
prolonged period of falling stock values. See
also: Bull Market.
