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Business
Ethics
Ownership
Entrepreneur
Franchise
100

organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society’s needs

What is a Business

100
Written guide to acceptable and ethical behavior as defined by an organization that outlines uniform policies, standards, and punishments for violations.
What is Code of Ethics
100
Legal concept that holds a business owner personally liable for all of a business’s debts
What is Unlimited Liability
100
Key ingredients in the survival of a small business.
What is capital and management.
100
The ______ supplies a known and advertised business name, management skills, the required training and materials, and a method of doing business.
What is Franchisor
200

The total dollar value of all goods and services produced by all people within the boundaries of a country

What is Gross Domestic Product

200
This act gives those who report corporate misconduct sweeping new legal protection
What is Sarbanes-Oxley Act
200
Active in day-to-day business operations, and each partner can enter into con-tracts on behalf of all the others.
What is General Partner
200
Carefully constructed guide for the person starting a business.
What is a Business Plan
200

The primary reason for small business failures these failures

What is mismanagement resulting from a lack of business know-how and lack of capital

300

According to the SBA during 1994 and 2018, the number of small businesses that survived two-years.

What is two thirds

300
Belief that society will benefit most when business is left alone to produce and market profita-ble products that society needs.
What is Economic Model of Social Responsibility
300
The partner who can lose only what he or she has invested in a business.
What is Limited partner
300
A general rise in the level of prices.
What is Inflation.
300
The importance of small business to our society (what does it provide)
What is competition, employment, innovation
400

For a business to be organized, it must combine four kinds of resources

What is material, human, financial, and informational.

400

Name three factors that affect the level of ethical behavior

What is individual, opportunity, moral, social

400
It is easy to invest money in a partnership, but it is sometimes quite difficult to get it out.
What is Frozen investment
400
Forming a corporation can be a relatively _____ and _____ process.
What is Costly and Complex
400
Advantages to franchisee
What is the franchisee gets the opportunity to start a business with limited capital, make use of the business experience of others, the franchisor gives the franchisee guidance and advice, receives materials to use in local advertising and can take part in national promotional campaigns sponsored by the franchisor.
500

Study of how wealth is created and distributed.

What is economics

500

Employees informing the press or government officials about unethical practices within one’s organization.

What is Whistle Blowing.

500
The ultimate objective of every firm.
What is satisfy the needs of its customers
500
An artificial person, invisible, intangible, and existing only in contemplation of the law.
What is a Corporation.
500

Franchise holders typically pay a one-time ________ plus continuing royalty and advertising fees collected as a percentage of sales.

What is Franchise Fee