When manufactured goods are not differentiated. This leads to thin margins and selling by price. The goods are standardized and cheaper.

A good that is sold freely to the public. It can be agriculture, fuel, or metals. It is traded in bulk in the commodity or spot market.

A marketplace where the titles to commodoties are traded. They are examined and graded and sold before their expiration date at close out rates. There are metal, fuel, soft, and currency commodities.

A party that is registered with the CFTC that helps manage, buys, and gives advise futures trading for another person.

When two or more people are injured in an accident.

A rule in insurance where the payable amount is limited to a maximum numbe of people with injuries.

Any areas that are shared by others in the same building.

A place for information that is needed for success.

1.a company offering services to the public over wires or satelite systems. 2. a transporter that serves all public, follows a schedule, carries specified cargo, and is the carrier of the contract

A change that is caused by random and is in every process no matter what. It is traced to management.

A code with 9 digits the the CEDEL and the Euroclear.

A firms expense over the whole process that can’t be placed in one department.

The intent to commit a crime or to help another in committing a crime.

When parties with a similar interest die at the same time with no way to see who died first making it hard to decide estate matters.

The rule in life insurance stating that the beneficiary must wait a period of time to get their inheritance. It is paid to the estate. AKA survivorship clause.

The requirement of the occupier of the property to ensure safety while on the premises. Refer to duty of care.

A law that a property owner can take action to protect their property from damage despite any damage to their neighboring property.

When many firms gather through a single goal. It can be shared employees and management, shared profits or loss, or ownership. If they seem to be bonded than it is sometimes assumed.

The members of common enterprise must be liable for their own conduct and requirements.

The shareholders investment amount in a company.