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What is Business ethics
Principles that help define appropriate behavior in a business setting.
What is Gross pay?
Amount of income earned before taxes and other deductions are withheld.
What is net pay?
What you get to take home after taxes.
What is Target market?
Your ideal customer.
What is exports?
When you take goods and services out of a country.
What is Social responsibility?
Behaving with sensitivity to social, environmental, and economic issues.
What is a Monopoly?
Market structure with one business that has complete control of a market’s entire supply of goods or services.
What are Expenses?
The costs involved in operating a business.
What is a Product?
Anything that can be bought or sold; includes goods and services.
What is GDP?
Measures the value of final goods and services.
What is a Contract?
A legally binding agreement between two or more people or businesses.
What is Deflation?
A general decline in prices throughout an economy.
What is Equity financing?
When a capital brought into the business in exchange for a percent of ownership in the business
What is Law of supply and demand?
Price of a product is determined by the relationship of the supply of a product and the demand for the product Beverage Demand Changes.
What is inflation?
Prices for goods and services rise.
What is Revenue?
The earnings that a business receives for the goods and services it sells.
What is Oligopoly?
A market structure with a small number of businesses selling the same or similar products.
What is Debt financing?
Borrowing money that must be repaid for use in the business.
What is Economics?
Economics is a science that examines how goods and services are produced, sold, and used.
What is Theory Y?
Employees like to work and do not need close supervision to get their work done.
What is a Theory X?
Employees dislike work and need close supervision in order to get their work done.
What is Theory Z?
Workers are motivated to work and can make sound decisions.
What is import?
Bringing goods or services into a country from another country.