Business Characteristics
Social & Ethical Environment of Businesses
Economic Environment of Business
International Business
Business Management
100
An organization that produces or distributes goods or services for profit.
What is a business?
100
A firms most important resource.
Who are people?
100
Clothing, housing, cars, haircuts
What are economic wants?
100
Euro
What is the currency of the European Union (EU)?
100
Profit
What is the difference between earned income and costs or what a business earns after it pays all costs?
200
Letting workers decide how to perform their work tasks and offer ideas on how to improve work processes.
What is empowerment?
200
Labor Force
Who are most people aged 16 or over who are available for work?
200
Utility
What is the ability of a good or service to satisfy a want?
200
Tariffs
What are taxes on imports?
200
Domestic Goods
What are products made by firms in the United States?
300
Production, Marketing and Finance
What are the three business activities most businesses engage in?
300
Business Confidentiality
What is keeping sensitive company information secret?
300
Labor
What is the human effort, either physical or mental, that goes into the production of goods and services or one of the factors of production?
300
South Korea and Taiwan
What are two countries located in the Pacific Rim?
300
Competition
What is the rivalry among sellers for consumer dollars or one of the five characteristics of capitalism?
400
Franchisor
Who is the parent company of a franchise agreement?
400
Baby Boom
What is the high birth rate during the years 1945-1965?
400
Command Economy
What is an economic system in which a central planning authority, under the control of the country's government, owns most of the factors of production and determines what, how, or for whom most goods and services will be produced?
400
World Bank
What is the business organization that provides low-cost loans to less-developed countries to develop basic industries and facilities?
400
Supply
What is the number of like products that will be offered for sale at a particular time for a certain price.
500
Intrapreneur
Who is an employee who is given funds and freedom to create a special unit or department within a company in order to develop a new product, process or service.
500
Code of Ethics
What is a formal, published collection of values and rules that reflect the firm's philosophy and goals?
500
CPI
What is a measure of the average change in prices of consumer goods and services over a period of time?
500
Joint Venture
What is a form of business in which two or more firms share the cost of doing business and also share the profits?
500
Business Cycle
What is a pattern of irregular but repeated expansion and contraction of the GDP?
M
e
n
u