Define
_______________ encourages businesses to attract new customers and keep the old ones.
What is Free Enterprise (Private)
The branch of U.S. Government that interprets, applies, and administers the laws of the United States.
What is Judicial.
Actions that affect employees, consumers, communities, and the environment.-
The money earned from conducting business after all costs and expenses have been paid.-
Pricing products unreasonably high when the need is great or when consumers do not have other choices.
What is Price Gouging
Exclusive control over a product or the means of producing it.
What is Monopoly
The government agency that is responsible for the fair & equitable treatment of employees with regard to hiring, firing, and promotions, and preventing companies from discrimination against employees.
What is EEOC.
Guidelines for good behavior.
Ethics
Business Ownership by ordinary people and not the government.
What is Private Enterprise
Considered to be unethical selling practice in the United States but in other countries this may be considered ethical as it is a custom to receive a gift.
Refers to consumer willingness and ability to buy products.
What is Demand
What is EPA (Environment Protection Agency)
Knowing the difference between right and wrong.
What is Ethical Behavior
The economic principle that price and demand move in opposite directions
What is Law of Demand
Companies engage in the production and promotion of environmentally safe products.
What is Green Marketing
A word, name, Symbol, sound or color that identifies a good or service.
What is Trademark
The government agency that sets guidelines for workplace safety and environmental concerns, and enforces those regulations.
What is OSHA.
This was Passed in 2002 in an effort to hold company executives and their consulting firms accountable for misinformation related to account and proper reporting of a corporation's financial situation.
What is The Sarbanes-Oxley Act of 2002.
Referred to as "the Nation's Central Bank"
What is the Federal Reserve
Reporting an illegal action of one's employer.
What is Whistle-blowing
The economic rule that price and quantity move in the same direction.
What is Law of Supply.
The government agency that regulates the labeling and safety of good, drugs, and cosmetics sold throughout the United States.
What is FDA.
A non-profit organization that promotes self-regulation among businesses - ethical companies join this organization to help create an ethical business environment - companies must agree to follow the highest principles of business ethics.
What is the Better Business Bureau (BBB)
When the amount of the product supplied is equal to the amount that is demanded, a state of _______________ occurs.
What is Equilibrium
The societal effort to protect consumers rights by putting legal, moral, and economic pressure on business.
What is Consumerism