Economic Basics
Materials that come from the earth, water and air are also know as
Natural resources
In general partnerships, do partners have limited or unlimited liability ?
Unlimited liability
.............. refers to those behaviours found threatening or disturbing
harrassment
When a county has more imports then exports, it is in a trade
deficit
what is the role of an auditor ?
they check financial records of a business
What does SMB stand for ?
Small or medium sized business
This type of business is also known as a transnational
Multinational
............ are rules that we use to decide what's good or bad
morals
................... is a tax on the manufacture, sale or consumption of a particular product within a country
excise tax
is the crime of lying or pretending
fraud
The method of how a business delivers good or services to customers
Channels of distribution
A publicly traded corporation may pay out the rest of its profit in the form of a ....
dividend
.............. is the decision of an employee to inform officials or the public about a legal or ethical violation
whistle blowing
tariffs
Stock is also referred to as
Inventory
Our society is reliant on different businesses to satisfy customer needs and wants. We can also call this......
Interdependent
board of directors
A ..................... is a situation of where there is a difficult choice between two or more options
dilemma
Consists of 28 member states that trade in a single market
The European Union
.................. involves agreements between 2 countries unlike a trading bloc
bilateral agreement
When business are in control they have, .............. power
pricing power
What is the main disadvantage of a co-operative ?
The decision-making process can be difficult
Many companies choose to operate a .............. of ethics
code
Japan
Name all the countries in the G8 ?
The G8, the Group of 8 is made up of Canada, France, Germany, Italy, Japan, Russia, the USA and the UK