Show:
Chapter 1: Business Basics
Chapter 2: Economics and Banking
Chapter 3: Ethics in Business
Chapter 4: Business in a Global Economy
Chapter 5: Small Business and the Entrepreneur
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 that does not conform to a set of approved standards of social or professional behavior.
ANSWER – WHAT IS AN UNETHICAL BEHAVIOR?
100
The movement towards a more interconnected and interdependent world economy.
ANSWER – WHAT IS GLOBALIZATION?
100
The study of how individuals and businesses make decisions to best satisfy wants, needs, and desires with limited resources.
WHAT IS ECONOMICS?
200
The resources such as labor, natural resources, capital, entrepreneurial talent and technology that businesses use to produce their goods or services.
WHAT ARE FACTORS OF PRODUCTION?
200
An economy run entirely by individuals and businesses with no government involvement.
WHAT IS A FREE MARKET ECONOMY?
200
It requires CEOs to verify their companies' financial statements and vouch for their accuracy with the SEC.
ANSWER – WHAT IS THE SARBANES-OXLEY ACT OF 2002?
200
A tax imposed on an imported good or service.
WHAT IS A TARIFF?
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
An employee who reports misconduct, most often to an authority outside the firm.
WHAT IS A WHISTLE-BLOWER?
300
Created in 1948 with 23 member nations and grew to 123 member nations by 1994.
ANSWER – WHAT IS GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT)?
300
The MOST compelling argument for incorporating a business.
ANSWER – WHAT IS LIMITING LIABILITY (PROTECTING PERSONAL ASSETS)?
400
The interconnected system of different demographic factors such as race, gender, age, income distribution, etc. .
WHAT IS SOCIAL ENVIRONMENT?
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
A company’s obligation to conduct its activities with the aim of achieving social, environmental and economic development.
ANSWER – WHAT IS CORPORATE SOCIAL RESPONSIBILITY?
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.
ANSWER – WHAT IS A LICENSING?
400
A temporary state of unemployment in which workers move between jobs, careers, and locations.
WHAT IS FRICTIONAL UNEMPLOYMENT?
500
When a business owner cannot gain access to adequate funding.
WHAT IS AN UNDRCAPITALIZATION?
500
A decrease in the rate of inflation over time.
WHAT IS DISINFLATION?
500
A company’s written statement of their commitment to certain ethical practices.
ANSWER – WHAT IS A COMPANY'S CODE OF ETHICS?
500
Refers to selling a product at a price below the price charged in the producing country.
ANSWER – WHAT IS DUMPING?
500
A job that contributes to improving the environment.
WHAT IS A “GREEN COLLAR” JOB?