Prin of Bus midterm review

Business that is owned and operated by those using its services.

Products businesses use to produce other goods.

Overstating the features and benefits of products or making false claims about them.

Legal responsibility.

Business that is owned and often operated by a single individual.

Describes the terms of employment between a business and an employee.

How the owners and employees of a company think, feel, and act as a business.

Total money circulating at any one time in a country.

Willingness and ability to start a new business.

Behaving with sensitivity to social, environmental, and economic issues.

Alternating periods of expansion and contraction in the economy.

Property or items of value a business owns.

A government tax on imported goods.

Business that sells primarily to other businesses.

Business that uses supplies from other producers to make products.

All of the people in a nation who are capable of working and want to work.

The central bank of the United States that is responsible for the country’s monetary system.

Rules of behavior based on ideas about what is right and wrong.

Business that is co-owned by two or more general partners who are responsible for business operations.

Organized way in which a nation chooses to use its resources to create goods and services.

Money necessary to start and open a business.

Anything that can be bought or sold.

Alternating periods of expansion and contraction in the economy.

Action or task that is performed, usually for a fee.

Honesty of a person’s actions.

Promoting the welfare of others.

Individual or group who buys products.