Economics
The organized way a nation provides for the needs and wants of its people is called a(n):
Economy
A Global environment scans criteria consist of Technological, Political, Economic and ________ factors.
Where supply & demand meet in price and quantity
Equilibrium
Money earned after all cost and expenses are paid
Profit
Marketing
An economic system in which a countries government makes the decisions what to produce, how to produce and regulate it, and who it is produced for.
Command Economy
The taxing of imports
Tariff
Any government funded business is a part of this sector
Public Sector
Trademark
The Money Management & tracking of profits, expenses, and balances (2 Words)
Finance & Accounting
A period in the business cycle where the economy nearly stops, and consumer spending is very low forcing many business to shut down, resulting in increased poverty.
Depression
Changing an existing product or promotion to better suit suit a country or regions preferences
Adaptation
When 2 Businesses compete on the basis of quality
Non price competition
A business that uses its profits to fund a specific cause mentioned in their rules and charter.
Non Profit Business
The process of achieving a companies goals by effective use of resources through through goal setting, scheduling, and overseeing.
Management
When wants and needs are significantly higher than the resources available to produce them.
Scarcity
An enterprise composed of partners from both countries due to a nation's business laws about ownership of international businesses
Joint Venture
4 freedoms are the base principals of this system where operational control of a business is allowed
Free enterprise System
A total ban of imports or exports in a specific country
Embargo
The creating, growing, manufacturing, or improving of a good or service. (2 words)
Production & Procurement
Every worker has an output per hour that is measured over a period of time. from the labor force, this may be considered a resource.
Productivity
A global coalition of countries that make the rules governing international trade
WTO
Small, privately owned businesses make up ______% of all U.S. Businesses
95
The output of goods & services produced by the labor and property within a country.
Gross Domestic Product (GDP)
The Three Subsections of Management include Planning, Organizing & _____________
Controlling