Unit 1
The basic principle that guides your behavior is what?
Ethics
What is supply and demand?
All the activities a business engages in to interact with its customers
customer relations
Complying with laws and actions
Rule of Law
What is The want of a product or service that outright affects the price?
Demand
The process of accessing, processing, maintaining, evaluating, and disseminating business knowledge, facts, or data
Information management
An issue in which you must decide whether something is right or wrong; sometimes referred to as an ethical situation
Ethical Dilemma
What is the Amount of a good or service that outright affects the price?
supply
People who work to produce goods or services
Human Resource
What do you call your gut feeling?
Intuition
What are physical objects that are useful, scarce, and transferable and which satisfy economic wants?
Economic goods
Groups of activities related to management (i.e., planning, organizing, staffing, directing, and controlling)
Management function
How does ethics correlate with business?
A: having good ethics lowers your company's reputation
B: Because It helps you make money
C: It helps enhance The company's reputation and keep customers trust
D: It does nothing
it helps enhance the company's reputation and keep the customers trust
An indication of how changes in price will affect changes in the amounts demanded and supplied
Elasticity
The process of planning, maintaining, monitoring, controlling, and reporting the use of financial resources
Financial analysis