Unit 1 review

Handbook that outlines expectations of employee behavior.

A contract to rent something is called a ___________.

A market structure with one business that has complete control of a market's entire supply of goods or services is?

The customer of a service business is often called a?

Confidential information a company needs to keep private and protect from theft.

Lowest stage of a business cycle.

Something of value promised in a contract is called a(n)______.

Promoting the welfare of others is called ______.

System and marketplace for buying and selling stocks.

A measure of the average change in prices paid for typical consumer goods and services over time.

A _____ is anywhere buyers and sellers meet to buy and sell goods and services.

Planning and managing the flow of goods, services, and people to a destination is _________.

The activities involved in buying and selling goods on a large scale.

A (n) _________ economy is one in which individuals are free to make their own economic decisions.

_______ is the connection made among nations when economies freely move goods, labor, and money across borders.

A share of ownership in a corporation is called a ______.

Customers who purchase goods and services for their use are called?

Total money circulating at any one time in a country.

_______ means that a person is legally able to enter into a binding agreement.

A(n) _______ a group of countries that have reduced or eliminated trade barriers among themselves.

Rate of change in prices calculated on a monthly or yearly basis.

The ____ represents the cost of a loan and is expressed as a percent of the amount borrowed.

The ___ is a group of individuals who make high-level management decisions for a corporation/establish company policy

The document listing the conditions and terms for importing and exporting products between countries is a?

The shared beliefs, customs, practices, and social behavior of a particular group or nation is the _____.

________ is the connection made among nations when economies freely move goods, labor, and money across borders.

_______ utility is added when a business changes the form of a good or service to make it more useful.

The numeric system used to classify businesses and collect economic statistics is called the _____.

______ Competition is a competitive advantage based on factors other than price.

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

_____ occurs when an employee uses private company proprietary information to purchase company stock.

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

Anything that is bought or sold is called a(n)?

When two or more businesses work together to remove their competition, set prices, and control distribution

The difference between the income earned and expenses incurred by a business during a period of time is called ______.