Either Or
Food
Need or Want?
Need
Revenue - Expenses = ?
Profit
What two factors affect the price of a product?
True or False?
Pyramid schemes are an example of fraud
True
A vacation
Intangible or tangible?
Intangible
The quantity of goods the store has on hand
Inventory
The point where the supply and demand meet is known as the _______.
(Market) equilibrium price
What do you call the person who speaks up against unethical practices within a business?
Whistleblower/ whistleblowing
A trip to Florida over March Break
Need or want?
Want
Two or more companies battling for a consumer's spending money
Competition
If there is more demand than there is supply will there be a surplus or shortage?
Shortage
What does the acronym CSR stand for?
Corporate Social Responsibility
Toothbrush
Intangible or tangible?
Tangible
Works to ensure that nobody accumulates too much wealth; everyone is equal
Communism
If there is an increase in either the supply or demand which direction would the line move?
Right
What is it called when corporations are required to disclose all important information to shareholders, partners, communities etc.
Duty to Report
Shelter
Need or want?
Need
An organized social movement that aims to create greater equity in international trade and promote local sustainability
Fair Trade (Movement)
If the line on a supply and demand graph moves to the left, was there an increase or decrease?
Decrease
You are in a company and notice that women are constantly being overlooked for promotions, even though they have seniority and are qualified for the positions. Which laws would govern this case?
Anti-discrimination laws
Hair dresser
Intangible or tangible?
Intangible
When a product is not longer in use it has become _______.
Obsolete
Name 1 factor that could cause a change in the demand for a product
- Change in consumer income
- Change in consumer tastes or preferences
- Change in expectations
- Change in population
- Price of a similar or substitute goods
True or false
If you follow all the laws you are automatically working ethically.
False.
You can abide by the laws but still behave unethically
Starbucks
For-profit or not-for-profit?
For-Profit
Rules that help us tell the difference between right and wrong
Ethics
If the supply of a product goes up but the demand does not, what would happen to the price of the product?
Decrease
True or False
The fair trade movement involves companies paying a fair wage for all works and allows products to be sold at low prices.
False
Generally fair trade products are worth a bit more to ensure proper pay.
The Canadian Cancer Society
For-profit or not-for-profit?
Not-for-Profit
When businesses rely on the consumers and consumers rely on businesses
Interdependence
If the demand for a product increases, but the supply is slow to catch up, what would happen to the price of the product?
Increase.
Provide 2 examples of CSR principles.
- safe and healthy work environment
- fair labour policies
- protecting the environment
- truthful adveertising
- avoiding price discrimination
- donating
- how a company responds to crisis