Economic systems
Distinguish between the two types of command economic systems.
a command economy, the system is controlled by the government. A mixed economy is half run by the government and half a free market
What is a partnership?
A partnership is an arrangement where parties, known as business partners, agree to cooperate to advance their mutual interests.
Name Three Whistleblowers?
Frank Serpico Daniel Ellsberg Edward Snowden
What is Human resources management?
is the process of planning, staffing, leading, and organizing employees.
Describe five types of trade barriers used to limit global trade?
subsidies, standardization, tariffs, quotas, and licenses
What are the distinguishing characteristics of a market economic system?
Individuals and businesses own the means of production and distribution and government control is limited
What is a corporation?
a business entity that is owned by its shareholders, who elect a board of directors to oversee the organization's activities
How are ethics and the law different ?
Ethics are a set of moral values an individual establishes for one's self and your own personal behavior. Laws are structured rules utilized to govern all of society.
What is it called when companies merge?
merger
What are the benefits of trade surplus?
can create employment and economic growth, but may also lead to higher prices and interest rates within an economy
Describe the basic characteristics of traditional economies.
Tradition guides economic decisions such as production and distribution. Traditional economies depend on agriculture, fishing, hunting, gathering they barter instead of money
In what ways do corporations grow?
To reach more potential customers, expand your market to new locations or demographics.
Why should businesses strive to practice good ethics?
to promote integrity among their employees and gain trust from key stakeholders, such as investors and consumers
Define Logos
an appeal to logic or reason
What is the USMCA?
The USMCA allows the free movement of goods and services among the three countries.