Shared Flashcard Set

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bus 175
chaps 1-3
22
Business
Undergraduate 3
02/02/2011

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Cards

Term
Inflation
Definition
A general rise in the level of prices is called
Term
Equal employment opportunity commission
Definition
A government agency with the power to investigate complains of discrimination and to sue firms that practice discrimination is the
Term
a minority
Definition
A group of people who have been singled out for unfavorable treatment on the basis of race, religion, politics,or national origin is called.
Term
Code of ethics
Definition
A guide to acceptable and ethical behavior is known as
Term
Pure competition
Definition
A market situation in which there are many buyers and sellers of a product and no single buyer or seller can control the price is
Term
Factory system
Definition
A method of manufacturing in which all materials, machinery, and workers are assembled in one place is called.
Term
Joint venture
Definition
A partnership with a foreign country that can provide immediate market knowledge and access, reduced risk, control over product attributes is an
Term
Affirmative action program
Definition
A plan designed to increase the number of minority employees at all levels within an organization is called
Term
Currency devaluation
Definition
A reduction of the value of a nations currency relative to the currencies of other countries
Term
Barter system
Definition
A system of exchange in which goods or services are exchanged without using money is called
Term
Misallocation of international resources
Definition
An argument against trade restriction is
Term
Whistle blowing
Definition
An employees decision to inform the press or government officials of his or hers firms unethical practices is referred to as
Term
Economic Community
Definition
An organization of nations formed to promote the free movement of resources and products among its members and to create common economic polices is
Term
The commitment of top executives
Definition
Initiating a social responsibility program takes
Term
Opportunity
Definition
One factor that influences ethical decisions making is the_______factor.
Term
Exporting
Definition
The selling and shipping of raw materials or products to other nations is called
Term
Specialization
Definition
The separation of a manufacturing process into distinct tasks is referred to as
Term
Mixed
Definition
Today, the US economy is often characterized as a_______economy.
Term
Marketing intermediaries
Definition
Wal mart and target are often referred to as
Term
Eximbank
Definition
Which of the following extends and guarantees credit to overseas buyers of american goods and services, guarantees short term financing for export, and discounts negotiable instruments that arise from export transactions
Term
Governmental
Definition
Which of the following is not one of the four resources used by business today
Term
Monopoly
Definition
a market ( or industry ) with only one seller
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