EC-012
How are prices used in our economy?
Resources that enable businesses to operate are also known as
inputs
What do service businesses sell?
Intangible actvites
The United Association of Plumbers and Pipefitters is an example of a(n)
apprentice
In ethical dilemmas, someone could be:
hurt
What is the amount of money for which an item sells in the competitive market place?
price
Which of the following economic resources is responsible for combining the other resources to produce goods and services?
human resources
A company that transforms cotton into wearable clothing is considered a ___
manufacturer
A union worker who is just beginning in the occupation is referred to as a(n)
Apprentice
What is the first step you should take when resolving an ethical dilemma?
identify the dilemma
A store sells T-shirts for $10. Which of the following would be the most likely to occur if all other factors remain the same, and there is a demand for the T-shirts at $10?
Offering higher wages, employee assistance programs, and benefits are responses to limited
human resource
One way in which many businesses demonstrate their social responsibility toward employees is by providing them with
a safe secure working environment
Local 476 of the UAW walked off the job in support of Local 477 of the UAW, which was striking. This is known as a __________ strike
sympathetic
Andrea isn't breaking any laws, but his behavior still isn't ethical. This is because simply doing what is _________isn't always considered ethical.
legal
when Supply is greater than a demand, a _____ often develops. In this, producers are likely to lower their prices to sell the excess supply.
buyer's market
Capital goods reflect the state of ________ that exists in society. For example, Industrialized societies would use the most up-to-date and modernized capital goods
technology
Which of the following statements about wholesale trade businesses is true?
They operate from a variety of business premises
When union members of Local 654 arrived at work today, they found a sign on the door stating that the business had closed temporarily, and the employees were not allowed to work. This is a pressure strategy known as a(n)
sit-down-strike
Malcolm is facing an ethical dilemma, but instead of responding to it, he avoids it and pretends it doesn't exist. The problem will most likely:
get worse
some energy companies offer free electricity at night and on weekends because during those times. Which of the following explains why this would happen?
supply is greater than demand
A company designs robotic technology that can perform human job functions. This is known as ____ and can be an alternative to limited human resources
automation
A socially responsible business will attempt to give customers:
the best product at the best prices
When union members of Local 654 arrived at work today, they found a sign on the door stating that the business had closed temporarily, and the employees were not allowed to work. This is a pressure strategy known as a(n)
lockout
When Genevieve makes a mistake at work, she considers blaming one of her coworkers. Her sense of _______let's her know that she is facing an ethical dilemma.
accuntbailtly