Chapter 3 Vocabulary

Amount of satisfaction a person receives from consumption of a particular product or service.

Held responsible for damages and possibly medical costs and suffering by the injured person.

The possibility of financial gain or loss or personal injury.

Statement that shows revenues received and expenses incurred over a specific period of time.

Financing provided to start a company in return for owning part of the company.

Calculates the business's return as a percentage of the money invested.

A report that predicts the expenses to be incurred and the revenues to be earned.

A company's wealth in the form of money or property.

A limited amount of resources needed to produce and distribute goods and services.

A detailed projection of financial performance for a specific time period.

A statement that shows the company's assets and liabilities.

Preventing, reducing, or lessening the negative impacts of risk.

When a company makes decisions on how to use resources in ways that result in greatest profit.

When one has to choose between two equal moral principles.

Occurs when not enough revenue is made to cover expenses.

The rules and codes of conduct on which ethical behavior is based.

A system for deciding between right and wrong in a reasoned and impartial manner

A strong, voluntary adherence to honesty and morality; often linked to ethical behavior

The preparation for an unexpected emergency.

The amount of money remaining from income after all expenses are paid.

Process by which knowledgeable safety and security staff identify and prepare to manage risks.

The study of how goods and services are produced, distributed, and consumed.

An activity that will produce money.

The effect produced by decisions that are made by consumers and businesses.