Fundamentals of Business
Ethics
International Business
Supply and Demand
Types of Businesses
100
This item is something that is tangible (it can be touched)
What is a Good
100
is conduct that conforms to individual beliefs and social standards about what is right and good.
Ethical behaviour
100
This is trade between nations.
What is International (foreign) Trade
100
Businesses research what consumer needs and wants are to help them decide what they will sell…called
What is Supply and Demand
100
This is a business owned by one person Pros include: Owner makes all the decisions Personal satisfaction
What is Sole Proprietorship
200
This is the primary goal of most businesses.
What is Make a profit
200
is a crime of lying or pretending. Some businesses mislead consumers and trick them to buy their products or services:
What is Fraud
200
Only very few countries can be self-sufficient today. Therefore this occurs
What is "Interdependence"
200
This law states as prices go down, demand goes up.
What is The Law of Demand
200
This ownership has more decision makers, Unlimited liability and generally more profitable
What is Partnership
300
Most businesses provide goods or services to satisfy what?
consumers NEEDS and WANTS
300
a type of accounting fraud, happens when management redirects money for personal gain.
What is Embezzelment
300
exists when customers in one country begin to demand items that are created in another country
What is Global Dependency
300
Needs and wants are always unlimited, but resources to produce or pay for them are limited
What is Scarcity
300
A annual percentage payment made to the parent company
What is royalty
400
Research and Development and Accounting are considered two of the seven
What is Functions of Business
400
A business exhibits this through their values, ethics, and the contributions it makes to communities.
What is corporate social responsibility (CSR)
400
Goods coming into Canada from other countries.
What is Imports
400
is the market price or the price that consumers agree to pay and the price where producers are willing to provide the good or service
What is Equilibrium price
400
A parent company sells additional locations to other individuals to operate
What is a Franchise
500
Self Esteem and Love and Belonging are two of the five categories
What is Maslows Hierarchy of Needs
500
is buying or selling shares of a company based on confidential information. This type of trading is illegal.
What is Insider Trading
500
the value of the goods a country imports exceeds the value of the goods it exports
What is Trade Deficit
500
Emphasizes the importance of the individual over the state.
What is Free Enterprise
500
A group of similar businesses involved in changing raw materials into finished products
What is a secondary industry
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