Monopolies
When only one company sells a product, it has all the power in the market.
What is it a monopoly
the co-founder of Ben & Jerry's?
Who is Ben Cohen and Jerry Greenfield?
A financial market place where investors can buy and sell shares of publicly traded companies.
What is a Stock Market
a legally binding agreement between two or more parties called
What is a contract
the term for the moral principles that guide the behavior of individuals and organizations in the business world
What are business ethics
Obstacles or challenges that make it difficult for new companies to enter or compete in a specific market?
What are barriers to entry
the main product that Ben & Jerry's sells?
What is ice cream?
economic indicator measures the total value of all goods and services produced in a country over a specific period, often impacting stock markets
What is Gross Domestic Product
An offer must be made and an acceptance must occur
Agreement
the term for being truthful and not cheating
What is honesty
the ability of a company that has the power to set prices when there is only one seller
Who is the monopolist?
legal protection helps Ben & Jerry's keep its brand and flavors unique?
What are trademarks?
the term for a share issued by a company to raise capital, representing ownership.
What is a stock
The contract must be for a product or service that may be legally sold
Legality
In business ethics, the principle that emphasizes fairness and justice in treatment and opportunities
What is equity or fairness
The ability of a company to control the prices and quantities of a product?
What is market power?
advantage does Ben & Jerry's have because of its strong brand loyalty?
What is its market power to set higher prices?
Name the financial metric that measures a companies profit by dividing net income by revenue
What is profit margin
Those entering into the contract must be legal age and must be mentally competent
Competent Parties
the term for the practice of making decisions that are beneficial to the company but may be unethical or illegal
What is unethical or illegal behavior
Are legal rights like patents or licenses that help a company stay the only product?
What are patents or licenses?
what challenge could Ben & Jerry's face if other companies copy its flavors?
What is losing its competitive advantage? (loosing customers)
advanced trading strategy involves borrowing stocks to sell, hoping to buy them back at a lower price
What is short selling
Something of measurable value must be exchanged by the parties involved
Consideration
Economic, legal, ethical, and philanthropic
What are the levels of social responsibility