Social Responsibility
Government Regulation and Assitance
Terms
Business in the U.S. economy
Forms of business ownership
100

What refers to the duty of a business to contribute to the well being of a community?

social responsibility 
100
What is public utility?
An organization that supplies a service or product vital to all people. 
100
Corporation 
A seperate legal entry formed by documents filed with your state.
100
Who is one who has no explicit or implicit contract for long term employment?
A contingent worker 
100
What does a propietorship provide?
A tax advantage for the owner.
200
What is ethical conduct of business determined by?
Top management 
200
What are most property taxes used to pay for?
Schools and other local government services
200
Rules about how business and their employees.
Business ethics 
200
A business needs more ______ as it develops and grows.
A capital 
200
__________ are subject to many more laws and are more dificult to form than either proprietorships or partnerships. 
Corporations
300
A business must make a ________ to stay open.
Profit 
300

The individual income tax is the largest single source of revenue for the federal government. (true or false)

True 
300
A _________ is an agreement to exchange goods or services for something of value, usually money.
Contract 
300
What are intermediaries?
Business involved in selling the goods and services of producers to consumers and other business.
300
What is a non profit corporation? 
A group of people who join to do some activity that benefits the public. 
400
The occupational safety and health administration is charged with.... 
regulating and enforcing workplace safety standards.
400
A ________ exist when a business has control of the market for a product or service. 
Monolopy 
400
Trademark 

is a word, letter, or symbol liked with a specific company or product. 

400
What are the 6 basic activities completed by all business?
Generating ideas, raising capital, employing & personel, buying goods & services, marketing goods & services, and maintain business records.
400

The franchise maintains day-to-day operations and receives the profits of business. (True or False)

True 
500
What does a socially responsible business take action to?
to improve or change operations that cause pollution 
500
Who helps business by collecting and reporting valuable information? 
Government 
500
Services business 
Carries out activities that are consumed by its customers.
500
What do producers create?
Products and services used by individuals and other business.
500
What is a good ownership form for people who share an idea for business?
A partnership
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