Introduction To Business Midterm – Flashcards
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Economics
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study of how resources satisfy unlimited wants and needs through the use of careful resources
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Public wants vs. Private wants
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Public wants are the wants of the public. private wants are wants of private smaller groups
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Market research
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the studying the ups and down of the markets
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Every type of business needs labor resources in order to produce goods and services
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:)
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factors of production
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resources used to produce goods and services
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Market econony
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goes by the market
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command economy
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is controlled by the government
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mixed economy
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is both economy based and governemnt
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economic indicators
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measure preformance of economy
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conflict of interest
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is between self-interst and moral obligation
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Sarbanes-Oxley Act
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makes CEO more accountable for action of the financial managers of a firm.
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OSHA
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Occupational Saftey and Health Administration
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Entreprenuer
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is a business man , A person who starts up and takes on the risk of a business
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venture
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an investment that is very risky but could yield great profits
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execuative summary
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has a breif account of the key oints in a business plan
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dividend
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money made as a result of owning a stock
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franchise
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authorization to sell a company's goods and services in a certian place
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Managment
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needs organazational and ledership qualities
