Show:
FUNDAMENTALS OF BUSINESS
BUSINESS & SOCIETY
BUSINESS ETHICS
ECONOMICS
100
What are the TWO types of business organizations?

For Profit and Non-Profit

100

Name 3 stakeholders a business has.

customers

employees

investors

community

lenders 

100
What is the lowest ethical test businesses should ask themselves?

Is it legal?

100
What is the definition of economics?
The study of how society manages scare resources.
200

What is the lifeblood of business?

PROFIT 

200

What is a certified B Corp?

a type of for profit company that has been certified by the non-profit organization B Lab as meeting rigorous standards of social and environmental performance, accountability and transparency

200

What are 2 of the four ways to build an ethical culture?

Lead by example

Create ethical hiring practices

Create code of ethics and train 

Reward ethical behavior 

200

What are the two types of markets in the world today?

Free Markets (Capitalistic)

Command Markets (Controlled, Socialist)

300
What is the definition of Standard of Living?

How many goods and services people can buy with the money they have

300

What historical event created our modern macroeconomic economy influenced by the writing of J.M. Keynes?

The Great Depression 
300

Name the 2 types of ethical codes available to a business.

Compliance based ethics code


Integrity based ethics code 

300

What are the 3 functions of the government within an economy?

Enforce Private Property

Promote Efficiency

Promote Equity 

400

What are the FOUR Factors of Production in an economy?

Labor, Land, Entrepreneurship, and Capital

400

What socio-political event brought about the rise of globalism in  business?

The fall of communism (USSR) and the opening up of previously closed borders and markets.

400

What are the four steps of building an ethical organization?

Create explicit values

Incorporate critical thinking in decision making

Integrate incentives for ethical behavior 

Develop cultural norms of ethical behavior 

400

What is the Law of Supply?

Supply is positively related to price

500

Name 3 of the six factors that affect the "business environment."

1.Economic Forces

2.Technological Forces

3.Competitive Forces

4.Social Forces 

5.Global Forces

6.Legal/Regulatory/Political Forces

500

Name 2 of the four roles business plays in supporting society.

Produce Goods and Services 


Provide income for employees and benefits 


Paying Taxes to the government and local programs


Donations to non-profit organizations
500

What are the three factors that make up the Triple Bottom Line approach to Corporate Social Responsibility?

People

Planet

Profit 

500

What are the FOUR types of compeitition?

Perfect Competition

Monopolistic Competition

Oligopoly

Monopoly