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Transportation and Business Terms

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1. joint venture: An agreement between two or more firms to undertake the same business strategy and plan of action.

2. junk bond: A bond with a speculative credit rating of BB (S&P) or Bad (Moody's) or lower. Junk or high-yield bonds offer investors higher yields than bonds of financially sound companies. Two agencies, Standard & Poor's and Moody's Investor Services, provide the rating systems for companies' credit.

3. Just in Time (JIT inventory): An inventory system that allows for the elimination of inventory stockpiles and inefficiency and waste; raw materials arrive "just in time" for production and finished goods "just in time" for sale.

  

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