Show:
Chapter 1 Business Basics
Chapter 2 Economics and Banking
Chapter 3 Ethics in Business
Chapter 4 Business in a Global Economy
Wildcard
100
What a company earns when it takes in more revenue (earnings) than it spends.
WHAT IS A PROFIT?
100
A benchmark used to track changes over a period of time in the price of goods and services that consumers purchase.
WHAT IS THE MONTHLY CONSUMER PRICE INDEX (CPI)?
100
Behavior does not conform to a set of approved standards of social or professional behavior.
WHAT IS UNETHICAL BEHAVIOR?
100
Means that a country can produce a good or service relatively more efficiently compared with other countries.
WHAT IS A COMPARATIVE ADVANTAGE?
100
The study of how individuals and businesses make decisions to best satisfy wants, needs, and desires with limited resources.
WHAT IS ECONOMICS?
200
A name for physical products that a business offers.
WHAT ARE GOODS?
200
An economy run entirely by individuals and businesses with no government involvement.
WHAT IS A FREE MARKET ECONOMY?
200
Requires CEOs to verify their companies' financial statements and vouch for their accuracy with the SEC.
WHAT IS THE SARBANES-OXLEY ACT OF 2002?
200
A tax imposed on an imported good or service.
WHAT IS A TARRIFF?
200
The collective name for the various resources used to create a company's goods and services.
WHAT ARE FACTORS OF PRODUCTION?
300
The movement toward a more interconnected and interdependent world economy.
WHAT IS GLOBALIZATION?
300
The price at which everyone who wants the item can get it without surplus or further demand.
WHAT IS THE MARKET PRICE?
300
This refers to the operating of businesses according to the legal regulations of the industry.
WHAT IS LEGAL COMPLIANCE?
300
The argument that an undeveloped domestic industry needs time to grow and develop in order to acquire a comparative advantage in the global economy.
WHAT IS THE INFANT-INDUSTRY ARGUMENT?
300
"Nice guys finish last." and "Hard work always pays off" are examples of these.
WHAT ARE BELIEFS?
400
A company's choice to relocate its production facilities overseas or subcontract at least some of the components to foreign companies at low costs.
WHAT IS OFF-SHORING?
400
A market situation that occurs when there are a few sellers in a given market and each seller has a fairly large share of that market.
WHAT IS AN OLIGOPOLY?
400
It states the company's commitment to ethical practices and specifies the ethical values that will be adhered to as a matter of company policy.
WHAT IS A COMPANY'S CODE OF ETHICS?
400
An agreement in which a domestic company's intangible property may be sold or made available to a foreign company in exchange for a royalty fee.
WHAT IS LICENSING?
400
A temporary state of unemployment in which workers move between jobs, careers, and locations.
WHAT IS FRICTIONAL UNEMPLOYMENT?
500
Companies that are not very profitable would be considered this.
WHAT IS AN INEFFICIENT COMPANY?
500
A decrease in the rate of inflation over time.
WHAT IS DISINFLATION?
500
An internal study of how well a company is meeting its social responsibilities.
WHAT IS A SOCIAL AUDIT?
500
Refers to selling a product at a price below the price charged in the producing country.
WHAT IS DUMPING?
500
A job that contributes to improving the environment.
WHAT IS A “GREEN COLLAR” JOB?