Glossary

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Higher Education and Training

Subject: 

  • Business Studies

comprising Levels 5 to 8; is represented by the third band of the NQF. Tertiary, research and professional institutions are the main providers of education and training in Band 3.

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exchange rate
Subject:
Business Studies

the amount one currency can be exchanged for in another currency.

retrenchment strategy
Subject:
Business Studies

usually used when a firm is in trouble financially and it decides to reduce costs by selling...

horizontal integration
Subject:
Business Studies

a process of a business buying out, taking over or merging with its competitors.

tolerant
Subject:
Business Studies

accepting the beliefs and actions of others.

VAT (value-added tax)
Subject:
Business Studies

a tax of 14% of the selling price on a wide range of goods and services.