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Merchandising and Trading

CERTIFICATE OF ORIGIN /sər tif′i kit ʌv ôr′ə jin/

17 Apr 2024


  • A certificate stating the country in which a commodity has been grown, milled, produced, manufactured or assembled.
Example Sentences:According to the certificate of origin, this lamp shade was made in Thailand.

IMPORT LICENSE /ɪmˈpɔrt lahy-suh ns/

15 Apr 2024


  • An import license is a document issued by a national government authorizing the importation of certain goods into its territory.
Example Sentences:You won’t be able to import wood products into the country unless you have an import license to do so.
Although I had the correct import license, customs did not allow my shipment out of the port of entry.

CUSTOMS /kuhs-tuh mz/

14 Apr 2024


  • Government agency entrusted with enforcement of laws and regulations to collect and protect import-revenues, and to regulate and document the flow of goods in and out of the country.
Example Sentences:I was searched by customs when I entered China on business last month.
Customs calculated that the necessary duty to be paid on the shipment was $9,560.

COMMODITY kəˈmɒdɪti

22 Nov 2023


  • something that can be bought or sold e.g. a resource or product.
Example Sentence: Primary commodities tend to be produced in poorer countries.

VOLUME vɒlyum

31 Oct 2023


  • the total amount of something.
Example Sentence: The volume of trade has dropped in recent months.

UNIT COST yunɪt kɔst

30 Oct 2023


  • the cost of producing one item of a product.
Example Sentence: The unit cost of the product is just $2.

SURPLUS sɜrplʌs

29 Oct 2023


  • extra money that was not spent.
Example Sentence: The surplus is due to the falling energy costs.

TARIFF tærɪf

14 Sep 2023


  • a tax on imports when they enter a country.
Example Sentence: They set high tariffs to protect their domestic car industry.

QUOTA kwoʊtə

01 Sep 2023


  • a limit set on the amount of imports which can come into a country.
Example Sentence: The country has set quotas on steel imports.

RETAIL OUTLET riteɪl aʊtlɛt

20 Apr 2023


  • a place where products are sold to the public.
Example Sentence: They have retail outlets all over America, Europe and Asia.


04 Feb 2023


  • to use outside sources rather than those within a company.
Example Sentence: The manufacturing company outsourced many of their products.


17 Sep 2022


  • supplier that stands high on a company's chain of suppliers and is usually in a direct contact with the client.
Example Sentence: Our company is a tier-one supplier of one of the biggest car manufacturers in Japan – we produce their tyres.

RETAIL CHAIN riteɪl tʃeɪn

08 Aug 2022


  • a number of similar shops or stores that sell products to the public.
Example Sentence: We have only one retail chain in our town. I've never liked them – the choice of dairy products on offer is really poor. I think some competition would do them good.

RETAIL riteɪl

18 Jul 2022


  • related to the selling of goods in small quantities (e.g. in a store).
Example Sentence: The retail price was reduced by 30% after the holidays.