Potpourri
This is a fundamental force of capitalism and protects the consumer's right to choose.
What is competition?
Informing the press or the police about a company's wrongdoing is called _____.
What is whistleblowing?
Strategic alliances and _____ _____ are similar ways to do business internationally.
What are joint ventures?
The four phases of the business cycle include recession, recovery, ____, and trough.
What is peak?
Analysis of an individual's economic choices would be studying microeconomics. Analysis of an entire nation's economic choices would be _________.
What is macroeconomics?
According to economists, natural resources, labor, capital, and entrepreneurship are called this.
What are the factors of production?
The EEOC is a government agency with the power to investigate complaints of ____.
What is discrimination?
Imposing trade restrictions may help equalize a nation's balance of _____.
What are payments?
This is a price at which the demanded quantity is equal to the quantity supplied of that product.
What is market price or equilibrium?
The four types of business resources are material, human, financial, and ______.
What is informational?
This is a contractual agreement where one firm gives another permission to produce and market its product and brand name in exchange for a fee.
What is licensing?
Establishing and enforcing a corporate ___ ___ ___ is the most effective way to encourage ethical behavior in a workplace.
What is a code of ethics?
Bloomingdales sells designer suits made in Italy in its stores in the United States. Bloomingdales is _______ suits.
What is importing?
This US President led the way in creating programs to improve the working and social conditions in the United States in the 1930s.
Who is FDR (Franklin Roosevelt)?
This is the organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society’s needs.
The primary objective of the World Trade Organization is to remove _____ to trade.
What are barriers?
When people or organizations foul water, air, or land, whether knowingly or unwittingly, the action is called ____.
What is pollution?
When a business such as Coca-Cola has bottling plants and other facilities located in several foreign countries and operates on a worldwide scale, it is called a(n) _______ _______.
What is a multinational firm?
If you receive income from a business but are not involved in directly managing it, you are this kind of a partner.
What is a passive partner?
Business ethics applies ____ standards to business settings and decisions.
What is moral?
Small businesses add ___ ___ their fair share of jobs to the economy.
What is more than?
Believing that business has a responsibility not only to stockholders but also to customers, employees, suppliers, and the general public believing in the ______.
What is the socioeconomic model?
This is the exportation of large quantities of a product at a price lower than that of the same product in the home market.
What is dumping?
This is defined as two consecutive three-month periods of decline in a country's gross domestic product.
This is the word used to describe activities undertaken to protect the rights of consumers.
What is consumerism?