Short-term pattern of economic expansions and contractions.
What is a BUSINESS CYCLE?
100
Beliefs about what is right and wrong or good and bad in actions that affect others.
What is ETHICS?
100
Systematic analysis of a firm’s success in using funds earmarked for meeting its social responsibility goals.
What is SOCIAL AUDIT?
200
Funds needed to create and operate a business.
What is CAPITAL?
200
The total quantity and quality of goods and services people can purchase with the currency used in their economic system.
What is STANDARD OF LIVING?
200
The willingness and ability of producers to offer a good or service for sale.
What is SUPPLY?
200
Form of social activism dedicated to protecting the rights of consumers in their dealings with business.
What is CONSUMERISM ?
200
Employee who detects and tries to put an end to a company’s unethical, illegal, or socially irresponsible actions by publicizing them.
What is WHISTLE-BLOWER?
300
Individual who accepts the risks and opportunity involved in creating and operating a new business.
What is ENTREPRENEUR?
300
Occurs when widespread price increases occur throughout an economic system.
What is INFLATION?
300
A measure of economic growth that compares how much a system produces with the resources needed to produce it.
What is PRODUCTIVITY?
300
Illegal agreement between two or more companies to commit a wrongful act.
What is COLLUSION?
300
Standards of behavior that guide individual managers in their work.
What is MANAGERIAL ETHICS?
400
A period during which aggregate output, as measured by GDP, declines.
What is RECESSION?
400
Vying among businesses for the same resources or customer.
What is COMPETITION?
400
Illegal practice of using special knowledge about a firm for profit or gain.
What is INSIDER TRADING?
400
Behavior that does not conform to generally accepted social norms concerning beneficial and harmful actions.
What is UNETHICAL BEHAVIOR?
400
Form of social activism dedicated to protecting the rights of consumers in their dealings with business.
What is CONSUMERISM?
500
Market or Industry in which there is only one producer that can therefore set the price of its products.
What is MONOPOLY?
500
Market or industry characterized by a handful of (generally large) sellers with the power to influence the prices of their products.
What is OLIGOPOLY?
500
Approach to social responsibility by which a company actively seeks opportunities to contribute to the well-being of groups and individuals in its social environment.
What is PROACTIVE STANCE?
500
The attempt of a business to balance its commitments to groups and individuals in its environment, including customers, other businesses, employees, investors, and local communities.
What is SOCIAL RESPONSIBILITY
500
Those groups, individuals, and organizations that are directly affected by the practices of an organization and who therefore have a stake in its performance.