Ch. 1 Business Now
Any organization that provides goods or services in an effort to earn a profit.
What is a business.
These were loans given to people with poor credit. What is the name of the loans?
What is subprime mortgage loans.
Explain what tariffs are.
What is taxes on imports.
A car company installs software to cheat emissions tests while selling cars as “eco-friendly.” What is this considered on the matrix? (legal or illegal and ethical or unethical)
What is illegal + unethical.
True or False: Communications written in the active voice are said to be much more powerful than those written in passive voice.
What is True.
This period of technological development took place from the mid-1700s to the mid-1800s resulting in mass production and huge factories as those constructed by Henry Ford.
What is the Industrial Revolution.
________________measures the total value of all final goods and services produced within a nation’s physical boundaries over a given period of time, adjusted for inflation.
What is GDP
What was the NAFTA and what replaced it in 2020?
What is an agreement reduced trade barriers between the U.S., Canada, and Mexico and the USMCA replaced it.
This act was passed in 2002 after major corporate scandals, this act increased financial reporting requirements and created the Public Company Accounting Oversight Board.
What is the Sarbanes-Oxley Act.
An individual’s point of view based on prior experiences is a __________ barrier.
What is Perceptual.
What are the four basic building blocks and provide examples for each?
What is Entrepreneurship (innovation), Natural Resources (land, water, raw materials), Capital (money, equipment, buildings), and Human Resources (labor, skills, knowledge).
_______ would include savings accounts, money market accounts, and certificates of deposit (CDs)
What is M2 (Money supply 2).
_________ advantage is where you produce more with the same resources.
What is absolute.
List the 6 universal ethical standards.
What is trustworthiness, respect, responsibility, fairness, caring, and citizenship.
According to the text, _____% of learning comes from listening.
What is 85%.
This term refers to products that are so new, advanced, or ahead of the market that they are risky and may fail because the market isn’t ready for them yet.
What is bleeding edge.
The U.S. is based on free markets, private ownership, and profit motive. What is the name of the American economic system?
What is capitalist.
One reason products are made outside the U.S. is cheaper foreign production. This is called:
What is foreign outsourcing.
The strategy of deliberately designing products to fail or wear out quickly, so consumers have to buy more.
What is planned obsolescence.
When should you use your "active" voice?
What is if your intent is to put the focus on the action. Direct, concise, clear, and placing the subject before the verb.
List the five elements of the Business Environment
What is Global, Economic, Social, Competitive, and Technological
This government strategy involves adjusting taxation and public spending to influence economic activity, often used to combat recessions or control inflation.
What is fiscal policy.
This economic policy allows goods and services to move between countries without tariffs or quotas.
What is free trade.
This concept refers to a company’s obligation to act ethically, support communities, and minimize its environmental impact.
What is social responsibility.
What are the 6 barriers to communication and provide examples for each?
What is Perceptual, Body Language, Cultural, Organizational, Physical, and Language.