business chapter 4, 5, 9 – Flashcards

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set of beliefs good or bad right or wrong
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ethics
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what are individual ethics influenced by?
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who you are as a person and organization and day to day decision making
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A formal written document that defines the ethical standards of an organization and gives employees information thing to make ethical decisions across a range of situation
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code of ethics
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employees that report there employers illegal or unethical behavior to the media or authority
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whistle blowers
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refers to the harmful amount of greenhouse goes that firm and women's about its operations both directly and indirectly
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carbon footprint
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The obligation of a business to contribute to society
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social responsibility
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any groups that have stake or personal interest in the performance and all the actions of the organization
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stakeholders
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Business contribution to the community throughout the action of business itself rather than donations of money or time
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corporate responsibility
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A systematic evaluation on how well a firm is meeting ethics and social responsibility goals
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social audit
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passed by the federal like installation in 2002 that set higher ethical standards for public corporations and accounting firms key provisions limit conflict of interest and require financial all posters and CEOs to certify the validity of their financial statement
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Sarbanes oxely act
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effective communication typically defined in terms of physical, language, body language, culture, perceptual and organization barriers
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communication barriers
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types of communication barriers
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language perception cultural body organizational physical
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examples of physical barriers
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A document that looks like a wall of type, to a room that's freezing, cold two chairs in your office that
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any interference that causes messy message you sent to be different from message your audience understand
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noise
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The goal of nonverbal communication
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Communications that don't use words gestures posture or facial
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various ways a message could be send
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communication channels
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sentence construction in which the subject performs action expressed by the verb
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active voice
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common types of bias in business communications
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age, gender, race, ethnicity, and nationality
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vibrant compelling presentation delivery style that grabs one holds attention of audience
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dynamic delivery
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funds firm uses to accure it's assist and finance its operations
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financial capital
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functional area of business that is concerned with finding best scores and for financial capital
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line of credit
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spontaneous forms printed by sellers when they deliver goods and services to customers without requiring immediate payment
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trade credit
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short term promise note issued by large companies
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commercial paper
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sources of long-term financing include
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Direct investment from owners, long term debit, convenant, retained earnings, term loans, corporate grounds
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mix up equity and debit financing a firm uses to meet permanent financing needs
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capital structure
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funds provided by owners of the company
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equity financing
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list and describ the four factors of production required a friend economic system to drive to create wealth. Given example of each of your answers
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natural resources, factor include all inputs that offer value in natural state such as land, freshwater, wind, and mineral deposits. Capital, machines tools, building, information and technology things a business needs to provide service. Human resources cashier everyone who works with an economy physical intellectual creative contributing. entrepreneurship Donald Trump, people who take the risk launching in running old business was slow in response to profit incentives
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what is the sole proprietorship? I dentify and explain to advantages and two disadvantages of sole proprietorship
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A form of business ownership with single owner actively manages company, advantage are you are your own boss and you make all the choices disadvantages are the amount of work/hours and
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local offices affiliated with small business administration (SBA) that provide comprehensive management assistance to current and protective small business owners are known as
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small business development centers
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The vast majority of an entrepreneur start up financing comes from
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personal resources
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which of the following is an advantage of sole proprietorship
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retention of control
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what are typically private firms that charge high interest rate, structurals to be repaid in months rather than years, and often collect payments daily or weekly to reduce Rose
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alternative lenders
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what is a formal document that describes a business concept and outlines the core business objectives were detailing the strategies and timelines for achieving those objectives
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Business plan
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what is a corporate restructuring in which one for buys another
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acquisition
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what are wealthy individuals who invest in start up companies with high growth potential in exchange for share of ownership
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angel investors
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what is the license arrangement under one play allows another party to use its name, trademark, patience, copyright, business methods, and other property in exchange for monetary payments and other considerations
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franchise
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The three types of partnerships are
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General, limited and limited liability
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what is in agency of the federal government designed to maintain and strengthen the nations economy by aiding, counseling, assisting, and protecting the interest of small businesses
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small business administration
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A venture capital firm is interested in investing in a
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New company with potential for rapid growth
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which of the following represents the basic ownership interest in a corporation
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common stock
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small businesses are the major source of new jobs created by the US economy
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True
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a benefit of buying an existing business is the relationship with customers, suppliers, vendors are already establish
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True
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a corporation is the most common type of business in the United States
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false
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General partnership is a voluntary partnership in which all partners can take an active role in managing the business and have a limited liability for any claims against the far
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True
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S corporation cannot have more than 100 stockholders
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true
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owners of soul proprietorship are personally responsible for any debts incurred by their business
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True
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it is less risky for individuals who want to become small business owners to start their own business then to buy a existing
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false
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A Corporation is a voluntary agreement 2 or more people act as co-owners of the business for profit
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False
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A close corporation is also known as a not-for profit corporation
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false
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once the form of ownership for a business is chosen by entrepreneurs it is not possible to convert to another form
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false
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The failure rate of a franchise is significantly higher than the rate for starting business from scratch
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true
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an entrepreneur is an individual willing to take the risk of owning and operating a business
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false
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Business transactions that occurred on mine are examples of
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e-commerce
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which of the following factors of production includes creative contributions of people that work with in an economy
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human resources
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if the price of inputs rises, the supply of the product will
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decrease
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in the business cycle a transition period of rising economic growth and increasing employment is a
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recovery
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what is a market structure with just a single producer completely dominating the industry
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Monopoly
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The consumer price index (CPI) measures the
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change in weighted average price over time
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value in the relationship between the what of a good service and the benefit that is offers its consumers
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Price
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as the number of politics sellers increase the product
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supply increases
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A basic characteristic of what is that that both producer and consumer are free to make their own economical decision on many issues
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capitalism
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when a consumer stop buying a product because he/she had a bad experience with it is an example
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change in consumer tastes and preferences
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and economy is experiencing a hyperinflation when average prices of goods and services
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increase by more then 50% per month
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what shows the relationship between price and quantity from a producer standpoint
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supply curve
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communism is an economic and political system in which the government plays only a minor role in the operation of the economy
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False
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demographics refers to the measurable characteristics of the population including traits such as age, education, and income level
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True
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Capital,as a factor of production includes machines, tools, buildings, information, and not you
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True
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market equilibrium identifies the price of which quantity supplied is equal to quantity demanded
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true
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The four factors of production are natural resources, capital, money, and ownership
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false
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substitute goods are to goods that can be used in place of another. An increase in the price of one of these goods will cause an increase in demand for the subsite good
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true
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as the number of consumers in the market decreases, the demand for the product decreases
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true
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entrepreneurs are primarily motivated by the desire to help out others
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false
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profit is the money that a business earns in sales, minus expenses such as the cost of goods on the cost of salaries
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true
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a typical supply curve shows that an increase in the price of a good will cause producers to decrease the quantity they supply
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false
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demand refers to the quantity of products to consumers are willing to buy a different market prices
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true
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an economy is said to be in abrecession when GDP decreases for two consecutive quarters
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true
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