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Business Symbols & Abbreviations

18 Oct

Common Business, Economics, and Finance

Symbols & Abbreviations

 

 

Symbol & Abbreviation Meaning
Δ Change or Difference (ΔQ means the change in Quantity Demanded from time 1 to time 2
+ Plus, Rise, Goes Up, Increases, Add
Minus, Fall, Goes Down, Decreases, Subtract
QD Quantity Demanded (The number of products the consumers want and can purchase)
QS Quantity Supplied (The number of products the suppliers have available on the market)
P Profit
p price
± Plus or Minus. (QS = ±3 means that QS can either go up or down 3 depending on what you changed).
X < Y X is less than Y
X > Y X is more than Y | X is greater than Y
X the Vertical line on a graph
Y the Horizontal line on a graph

 

#Business and #Economics: Business Vocabulary with Chinese Translations (Update)

11 Oct

I’ve added new terms to the list of Business Vocabulary.

Don’t forget, the Chinese translations come from the Chinese students rather than professional translators. While I believe they are accurate, you may want to consult professionals before using them for official documents. This is mainly intended to contribute to daily conversation between English speaking Companies and Chinese companies.

Abbreviations:

v. = Verb
n. = Noun
adj. = Adjective
adv. = Adverb

(c) All Rights Reserved. You are welcome to use this material. However, if you do end up using these definitions in your material (educational, informational, or professional), please include either a link to this webpage or the following reference: Blessing, Olivia. “Business Vocabulary with Chinese Translations.” DeceptivelyBlonde.com. This is for two reasons: 1) I’d like to share the resource with others. 2) I created these definitions myself. Thanks!

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Bar Chart (n.) A way of showing information on a chart 图表. The chart shows the information divided up into rectangles. Each rectangle represents one factor and shows the “amount” of that factor.  Allows readers to compare and contrast different things.    条形图 – Tiáo xíng tú

Image result for bar chart

Capital (n.) ~ Wealth (usually money, but also includes other assets) used to buy the inputs and materials used in order to create products. The term has different meanings depending on whether you are an accountant, economist, or financial adviser. 资本 – zī běn

Graph (n.) ~ A way of showing the relationship between two factors in a picture or image form.  Two lines, one called “X” and one called “Y,” are each used to represent one factor.  Lines can then be drawn to show the relationship between X and Y as they change.   曲线图 – qū xiàn tú

Image result for line graph

Input (n.) ~ Resources used to create a product . . . technology, labor, raw materials, etc. Only materials used to make the product, not those used to sell, ship, etc.  用于创建产品的资源

Labor (n.) ~ 1Effort. The work you put into something (“Thomas wants a higher salary for his labor“). 劳动 – Láodòng 劳动是人类生产力为改变商品的使用价值和增加商品的价值的实际使用 2(In Economics & Finance) The number of employees (“When Capital is $15, the Labor is 4 employees“). Usually abbreviated 简短的 “L” in mathematical formulas and economic models. 劳动力 – Láodònglì

Labor (v.) ~ To work. To put effort into something.  劳动 – Láodòng

Loan (n.) ~ Money that A borrows from B and must eventually pay back. Often includes an extra “interest”息 fee.   – Dài

Marginal (adj.) ~ In Business & Economics – A factor of or something that results from small or little changes. Often the profit, cost, or revenue associated with having or making “one more” of something. 边际 – biān jì

Marginal Cost (n.) ~ The cost that comes when you make one more product. 边际成本 – biān jì chéng běn

Marginal Profit (n.) ~ The profit (revenue – cost) that comes when you make one more product. 边际利润 – Biān jì lì rùn

Marginal Revenue (n.) ~ The revenue that comes when you make one more product. 边际报酬 – biān jì bào chóu

Negative Correlation (n.) The situation when two things (X & Y) are related to one another so that if X increases, Y decreases. If X decreases, Y increases. (X & Y go in opposite directions). In economics, we often say two things are “inversely related” if there is a negative correlation. For example, if Price goes up then Quantity Demanded will go down. There is a negative correlation and they are inversely related 负相关– Fù xiāngguān

Output (n.) ~ The number of products created. 产量 – Chǎnliàng

Pie Chart (n.) ~ A way of showing information on a chart 图表. The chart is a circle divided into pieces, each representing a percent (%) of the whole “pie. 饼形图 – Bǐng xíng tú

Image result for pie chart

Positive Correlation (n.) ~ The situation when two things (X & Y) are related to one another so that if X increases, Y also increases. If X decreases, Y also decreases. 正相关 – Zhèng xiāngguān

Quantity (n.) ~ The specific amount of something. Answers the question: “How Much.” 空头 – Kōng tóu.

Rate (n.) ~ 1. The speed at which something happens. For example the “Turnover Rate” 周转率 can tell us how often employees leave a company and new ones have to be hired. 率 – lǜ  2. The percentage of X compared to Y. For example, the “Tax Rate” is how much of the Revenue (Y) is used for Taxes (X). 比率 – bǐ lǜ

Scatter Plot (n.) A way of showing information on a chart or graph. A “Scatter Plot” is a graph where the information does not make a straight line 直线. Instead it is “scattered” (疏散) around the graph. 散点图 – Sàn diǎn tú

Image result for scatter plot

Short Sell (v.) ~ X borrows stock from a stock broker, sells the stock, buys it back, and then returns the stock to the stock broker. 卖空 – Mài kōng

Stockbroker (n.) ~ Someone who buys and sells stocks (a middleman – 中间人).  证券经纪人 – Zhèngquàn jīngjì rén

Stock Market (n.) ~ A place (either a physical market or an online market) where buyers and sellers trade in company shares.  股市 – Gǔ shì

Stock Price (n.) ~ The cost of purchasing one share (股of a company. 股价 – Gǔjià

Substitution (v.) ~ Using one thing instead of another. Replacing X with Y. 取代 – Qǔdài

#BacktoSchool

10 Oct

This is what happens when there is an 8-day Holiday and then you are the teacher for the 8:00am morning class😜  Break time – they start to crash!

#Teaching Humor ~ #Holiday Misses

30 Sep

That moment when you are supposed to have 93 students in class, but the school re-scheduled your class for the Saturday before a week long National Holiday. . . . and so only 9 students arrive. Then you go to your 65 student class and have exactly ONE poor boy come alone. Oh well, extra credit handed out and movie party/class about aligning incentives correctly went on like planned 🤣😂

Teaching Confusion. . . .

24 Sep
I have more than 600 students this semester between all three classes I teach (I teach the entire junior and sophomore years – – all majors). But there is always that magic moment when a student adds me on Wechat with the profile image of a random (though adorable) bunny, the username “RainbowsareCute🌺” and the clarifying statement “Teacher, I am your student. What chapter is for the next class?. . . . . .
 
Well, that’s a VERY good question. If I knew how I knew you, I could possible know the answer 🤣😂💚 Let us now ponder the mystery together!

#Teaching Joys #1

16 Sep

❤ Ran into my student at the Starbucks today. She came up and said hi. Then she told me that she’s seen me there once before – but she was too scared to say hello. She was so proud of herself today! Kept giggling with her friends behind the counter. Took us a bit, but we figured out her major and her class. I love my students so much. Watching them blossom, grow braver, and just mature is such a wonderful blessing. #thegoodlife #iloveteaching

Inside Voice, Outside Voice, #Teaching Voice

12 Sep

Roger (the totally awesome IT guy) came to class today to install a new microphone. He asked if I needed one. I said “No, I’m pretty loud without it.” Girl in the back of a room of roughly 96 students — “Oh yes, we can hear very good.” Me: 🤣😂. . . Roger: Oh. I think you do not need this. It’s okay. Me: LOL. I thought not.

#Ivacy VPN 2017

7 Aug

Ivacy VPN

If you pay any attention to my blog, you’ll know that for the last 3 years I have been living abroad and traveling to many countries including China, Korea, Japan, US.  All truly beautiful countries, you should try reading some of my other posts to see my adventures!

As always, I want to start by saying I do NOT support using a VPN to avoid legal blocks (like the Great Firewall), accomplish illegal or illicit activities, or do anything that the government would not approve of.  Those things are illegal – if you don’t want to follow their local laws, find a different country to live or travel in. 

So if you aren’t looking to break firewalls and get into sites you shouldn’t be getting into, why would you want a VPN?  You can find my list of the pros and cons of a VPN here. In general, I like the security a VPN provides to me, whether at home or abroad. I still use my VPNs in the US, especially if at a public location to avoid the same hacks, viruses, and trojans I worry about while traveling.  A VPN can help keep you fast and safe. Sometimes. Depending on which VPN you choose.  Also, it sometimes helps me bypass technical issues in the system. For example, my university uses Blackboard, but it does have random glitches that drop it a lot.  About 25% of the time, it only works if the teachers use a VPN.   When other teachers are down and out, those with a VPN can still get on.

To be honest, I actually go back and forth between several VPNs right now including Astrill and VyprVPN.  You can read my reviews for them here and here.  But I recently  Ivacy offered me the chance to test them out – kind of a new VPN on the shelf. Here’s my experience so far!
Continue reading

#Teacher Humor ~ Why my darlings, Why?!?

19 Jun

Student 👦attends a sum total of 9/22 classes 💻for the semester — not including the last class where we discussed the exam📚. Sends me an urgent email📧, “But Teacher, we have many questions before the test.” . . . . . .

Me 👩 💢 (in my mind. . .) “I don’t think you need to worry about that”.🙄
My actual answer 👩 (😣)”. . . . . I distinctly remember 🤔telling you not to miss any more classes📓 this semester — you missed 🏝three in a row. We discussed the test last class, but you skipped it💤😴.”
Student 👦: “Oh yes teacher. I know!”

Me. . . . SMH🙃😑

Managerial #Economics ~ Understanding #MRTS the Fun Way!

12 Jun

As always, this lesson is not intended to be professional advice. This is simply lesson material for ESL students in a Managerial Economics and Finance class. Posted here for their use or for helping other students.

PART 1 – Key Words

  1. Quantity (量) ~ How many products = Q (# of  🚗)
  2. Labor (员工) ~ The Number of Workers = L (👱)
  3. Capital (资金) ~ The Money ($$) we need = K (💲)
  4. Change (变化) ~ How much did the # change? = Δ(🔺)
  5. Marginal (边际成本) ~ Result if you add ONE MORE (+1) Q
  6. Rate (比率) ~ Ratio
  7. Substitution (取代) ~ XK = 1L (Substitution asks “what is X?”)
  8. Input (输入) ~ All the resources you put into a product. 
    1. Ice Cream 🍦has many inputs:
      1. Milk🥛
      2. Eggs🍳
      3. Sugar
      4. Ice
      5. Salt
      6. Chocolate Sauce
  9. Output (产量) ~ The product you create 
    1. Ice Cream 🍨🍦is the output!

Part 2 – The Relationship Between L, K, and Q

Every product (产量) can have lots of inputs (输入), just like the Ice Cream 🍦 or a Car 🚗.  

Input + Input + Input + Input = Output (🚗)

But in our class, we focus on TWO inputs: Labor (👱) and Money (💲)

👱+💲=🚗
Labor (👱) + Money (💲) = Quantity (🚗)
L (👱)+ K (💲)= Q(🚗)

Example: 
Justin sells 200 cars 🚗every day. Not 201 cars. Not 199 cars. He sells EXACTLY 200 cars 🚗every day. 

L (👱) + K (💲) = 200 cars (🚗)

Justin knows that in ONE DAY🔆:

  • 1 worker 👱 can create 50% of a car 🚗~ 2 workers 👱👱can create 100% of a car 🚗(one car)
    • 1L = 0.5Q 🚗
    • 2L = 1Q 🚗
  • $5 💲 can pay for 20% of a car 🚗~ $25 💲can pay for 100% of a car 🚗(one car)
    • 1K = 0.2Q 🚗
    • 5K = 1Q 🚗

Rule #1 ~ If Land K ⬆, then the # of 🚗 cars will also ⬆

Rule #2 ~ If Land K ⬇, then the # of 🚗 cars will also ⬇

Rule #3 ~ If L ⬇  and the # of 🚗 cars is still 200 (stay the same), K must ⬆

Rule #4 ~ If K ⬇  and the # of 🚗 cars is still 200 (stay the same), L must ⬆

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Today, Justin looks 🤔at his Money 💲and is NOT happy😭. He thinks he spends TOO MUCH money😡!  He wants to buy a new bicycle🚲, so he decides to SAVE $100 💲

This means today:

👱L + (💲K – 💲100K) = ? Q🚗

WHAT IS THE NEW Q (number of cars🚗) that Justin Makes Today?

Day 1 (Yesterday): 👱L + 💲K = 🚗200Q

Day 2 (Today): 👱L + (💲K – 💲100K) = 🚗200Q – all the 🚗cars $100K would pay for. 

Remember!  💲1K = 🚗0.20Q (one dollar pays for 0.20 cars in a day)

If Justin does not spend $100 today, he will lose the money for 20 cars! 

1K = 0.20 cars
💲-100K = -20 cars🚗🚗🚗🚗🚗🚗🚗🚗🚗🚗🚗🚗🚗🚗🚗🚗🚗🚗🚗🚗

ANSWER: Justin makes 180 cars today!

L + (K – 100K) = 200 cars – 20 cars 
= 180 cars🚗

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

OK?!?🤔

NO!!!  😡Remember –> “Justin sells 200 cars 🚗every day. Not 201 cars. Not 199 cars. He sells EXACTLY 200 cars every day. ”  

PROBLEM:  How can Justin still make and sell 200 cars tomorrow if he still saves the $100 (-100K) as today.

Rule #4 ~ If 💲K ⬇  and the # of 🚗 cars is 200 (the same), 👱L must ⬆

 

QUESTION: HOW MUCH should 👱L  go up (⬆)?  

  • Step 1 ~ How many extra cars 🚗does Justin need to make? ~ Justin can make 180 cars right now if he saves $100 (-100K) but L stays the same as yesterday.  

200 🚗 – 180 🚗= 20🚗
Justin needs to make
👱L ⬆ enough to make 20 extra cars🚗 tomorrow.

  • Step 2 ~ How much L does Justin have to add (+) to make 20 more cars tomorrow?

?L + (K – 100K) = 200Q

Remember,

👱1L = 0.5Q 🚗 | 👱👱2L = 1Q 🚗
20Q 🚗= 40L

ANSWER: Justin will have to hire 40 workers (+40L) in order to make 20 more cars tomorrow.

👫👫👫👫👫👫👫👫👫👫👫👫👫👫👫👫👫👫👫👫

FINAL SOLUTION

*Substitution = Adding L to Decrease K

(👱L + 👱40L) + (💲K – 💲100K) = 200 Q (🚗)

Part 3 ~ MRTS

MRTS = Marginal Rate of Technical Substitution

 CodeCogsEqn.gif

Go Back to Part 2.

  • 🔺K💲
    • Yesterday, Justin had K💲
    • Tomorrow, Justin has -100K💲
    • 🔺K = -100K💲
  • 🔺L👱
    • Yesterday, Justin had L👱
    • Tomorrow, Justin has +40L👱
    • 🔺L = +40L👱

CodeCogsEqn.gif

CodeCogsEqn (2).gif

CodeCogsEqn (3).gif

MRTS = 5K : 2L |5💲 : 2👫

This just tells us:

  1. For every 2 👫workers Justin has, he spends $5💲💲💲💲💲.
  2. For every 1 👱worker Just has, he spends $2.50💲💲½
  3. If Justin wants to hire 1 worker (+1L) , he will save $2.50 (-2.50K)
  4. I Justin wants to save $40 (-40K), he must hire 16 workers (+16L)

MRTS shows how much L👱 can be a substitute for K💲!

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