The lowest fixed price at which a seller will sell an item at auction. If the bidding does not reach the reserve price then the item is not sold unless the highest bidder comes to an arrangement with the seller.

Part of a person’s income which is left over after taxes and living expenses, for example mortgage, bills, etc., have been deducted.

Also Called Salvage Value. The market value of an asset which is no longer in use or has reached the end of its useful life.

The process of assigning available finances, materials, labour, etc., to a project.

Money paid by an offender in compensation for loss, damages or injury. To give something back to its rightful owner.

An aspect of business and employment law referring to the unfair/unlawful limiting of a person’s right to earn a living, or to pursue a legitimate occupation.

A trading agreement between businesses or industries which prevents free competition. The practice of workers, often trade unions, of protecting their jobs in a manner which limits the freedom of other workers.

A written summary of a person’s education, employment record, qualifications, etc., which is often submitted with a job application.

Also called Consumer Banking. Banking services provided directly to the public, such as savings accounts, credit/debit cards, mortgages, etc.

Also called Small Investor. An individual who buys and sells shares, etc., for themselves, usually in small quantities.