Introduction To Business

Front 1

A ______ ______ economy has characteristics of both planned and market economies.

Back 1

Mixed Market

Front 2

An ____________ is an individual who accepts the risks and opportunities entailed by creating and operating a new business.

Back 2

Entrepreneur

Front 3

The fund needed to create and operate business enterprise are ______.

Back 3

Capital

Front 4

A __________ shows how many of a given product will be bought at different prices.

Back 4

Demand Curve

Front 5

The process of converting government enterprise into privately owned firms is called ________.

Back 5

Privatization

Front 6

The point at which the supply curve and demand curve intersect on a graph is referred to as the _________.

Back 6

Equilibrium Price

Front 7

A _______ occurs when the quantity supplied exceeds the quantity demanded.

Back 7

Surplus

Front 8

_________ occurs when two or more business vie for the same resources or customers.

Back 8

Competition

Front 9

When the quantity demanded exceeds the quantity supplied a ______ will result.

Back 9

Shortage

Front 10

A __________ exists when an industry or market has only one producer.

Back 10

Monopoly

Front 11

The ________________________ referes to the total value of all goods and services produced within a given period by a national economy though domestic factors of production.

Back 11

Gross Domestic Product

Front 12

The ___________ is the pattern of short-term ups and downs in an economy.

Back 12

Business Cycle

Front 13

___________ is the economic condition characterized by widespread increased prices without increased purchasing power.

Back 13

Inflation

Front 14

The _________ is the amount of money that the government owes to it's creditors.

Back 14

National Debt

Front 15

Behavior that conforms to individual beliefs and social norms about what is right and good is referred to as ___________.

Back 15

Ethical Behavior

Front 16

__________ refers to ethical or unethical behaviors by employees in the context of their jobs.

Back 16

Business Ethics

Front 17

A behavior that does not conform to accepted beliefs and social norms is defines as ________.

Back 17

Unethical Behavior

Front 18

An _________ stance to social responsibility involves doing as little as possible and may involve attempts to deny or cover up violations.

Back 18

Obstructionist

Front 19

__________ are groups, individuals, and organizations that are directly affected by the practices of an organization.

Back 19

Organizational Stakeholders

Front 20

__________ occurs when someone uses confidential information to gain front eh purchase or sale of stocks.

Back 20

Insider Trading

Front 21

An employee who discovers and tries to put an end to a company's unethical, illegal, or socially irresponsible actions by publicizing them is called a ____________.

Back 21

Whistle-blower.

Front 22

A company's _________ formally acknowledges the intent to do business in an ethical manner.

Back 22

Code of Ethics

Front 23

First that adopt and _________________ to social responsibility meet there legal requirements and exceed legal minimums when specifically asked.

Back 23

Accommodative Stance

Front 24

The systematic analysis of an organization's succession using funds earmarked for it's social responsibility goals and is called a ____________.

Back 24

Social Audit

Front 25

Organizational stockholders can best be defined as individuals and groups that are _____________________________________ of an organization.

Back 25

Directly Affected by the Practices

Front 26

When two or more firms agree to collaborate on wrongful acts, it is referred to as ____________.

Back 26

Collusion

Front 27

_______________ is using advertising to project a green imagine imagine without adoption substantive environmentally friendly changes.

Back 27

Greenwashing

Front 28

Responding to increased demand with overly steep, and often unwarranted, price increase is called _________.

Back 28

Price Gouging