Economic Activity in a Changing World
The Business Cycle
Business Ethics
Basic Economic Concepts
Social Responsibility
100
Industrialized
What is a economic shift experienced by the US Economy?
100
Recovery, prosperity, recession, depression
What are the four stages of the business cycle?
100
Moral principles by which people conduct themselves.
What are ethics?
100
Natural resources, labor resources, capital resources, entrepreneurial resources
What are the factors of production?
100
The duty to do is best for the good of society.
What is social responsibility?
200
The number of people who are able and willing to work but cannot find work during a given period.
What is the unemployment rate?
200
The rise and fall of economy activity over time.
What is the business cycle?
200
A set of guidelines for maintaining ethics in the workplace.
What is a code of ethics?
200
The money left over after a business has paid the cost of providing its goods and services.
What is profit?
200
Federal government agency that protects consumers from dangerous or falsely advertised products.
What is the Food and Drug Administration (FDA)?
300
Level of material comfort as measured by the goods and services that are available.
What is standard of living?
300
The peak of economic activity.
What is prosperity?
300
A conflict between self-interest and professional obligation.
What is a conflict of interest?
300
_______ is possible because companies have the freedom to produce which goods and services they think will be most profitable.
What is competition?
300
Requires that men and women be paid the same wages for doing equal work.
What is the Equal Pay Act?
400
The total value of the goods and services produced in a country in a given year.
What is gross domestic product (GDP)?
400
The stage of the business cycle when workers go on strike to ask for more money and benefits.
What is prosperity?
400
The division of the US Department of Labor that sets and enforces work-related health and safety rules.
What is the Occupational Safety and Health Administration (OSHA)?
400
Is the amount of goods and services a company will produce at various prices.
What is supply?
400
One of the biggest social issues facing businesses today.
What is environmental responsibility?
500
When a government spends more on programs than what it collects in taxes.
What is a deficit?
500
During the Great Depression it was at 25 percent.
What is the unemployment rate?
500
The name of the sweatshop that had a fire and had insufficient fire exits and exit doors.
What is the Triangle Shirtwaist Factory?
500
The point where quantity demanded and quantity supplied meet.
What is the equilibrium price?
500
Mandates truthful reporting and makes the CEO more accountable for the actions of the financial managers of the firm.
What is the Sarbanes-Oxley Act of 2002?
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