The Dynamics of Business and Economics
Machine (computer) learning that is able to perform activities and tasks that usually require human intelligence such as decisions, visual perception, and speech recognition
What is artificial intelligence?
principles and standards that determine acceptable conduct in business organizations
What are business ethics?
a monopoly that exists when a country is the only source of an item, the only producer of an item, or the most efficient producer of an item.
What is absolute advantage?
occurs when one company purchases another, generally by buying most of its stock. The acquired company may become a subsidiary of the buyer, or its operations and assets may be merged with those of the buyer. For example, Zoox, an autonomous robotaxi company, was acquired as a subsidiary of Amazon.31
What is acquisition?
Precise statement of the rationale for the business and a step-by-step explanation of how it will achieve its goals.
What is a business plan?
a decentralized record-keeping technology that stores linked blocks of ordered transactions over time.
What is blockchain?
the activities that independent individuals, groups, and organizations undertake to protect their rights as consumers.
What is consumerism?
the difference in value between a nation’s exports and its imports.
What is the balance of trade?
stock whose owners have voting rights in the corporation, yet do not receive preferential treatment regarding dividends.
What is common stock?
The process of creating and managing a business to achieve desired objectives.
What is entrepreneurship?
an economic system in which individuals own and operate the majority of businesses that provide goods and services
What is capitalism or free enterprise?
conducting activities in a way that allows for the long-term well-being of the natural environment, including all biological entities; involves the assessment and improvement of business strategies, economic sectors, work practices, technologies, and lifestyles so that they maintain the health of the natural environment.
What is sustainability?
a nation’s negative balance of trade, which exists when that country imports more products than it exports.
What is a trade deficit?
profits of a corporation that are distributed in the form of cash payments to stockholders.
What are dividends?
An economic model involving the sharing of underutilized resources.
What is a sharing economy?
a society in which the people, without regard to class, own all the nation’s resources
What is communism?
the act of an employee exposing an employer’s wrongdoing to outsiders, such as the media or government regulatory agencies.
What is whistleblowing?
the basis of most international trade, when a country specializes in products that it can supply more efficiently or at a lower cost than it can produce other items.
What is a comparative advantage?
shares of a corporation that may be bought or sold
What is stock?
High Stress Level
High Failure Rate
What are the disadvantages of small business ownership?
a condition characterized by a continuing rise in prices.
What is inflation?
the act of taking someone else’s work and presenting it as your own without mentioning the source.
What is plagiarism?
the transferring of manufacturing or other tasks—such as data processing—to countries where labor and supplies are less expensive.
What is outsourcing?
a legal document that the state issues to a company based on information the company provides in the articles of incorporation.
What is a corporate charter?
An independent agency of the federal government that offers managerial and financial assistance to small businesses.
What is the Small Business Administration?