PBMF Test Units 3 & 4

Govt agency that protects those affected by natural disasters is called _____________

Scandinavia countries are considered one of the happiest places to live

The SEC was warned about Madoff several times before he turned himself in.

The government agency that enforces standards on basic safety laws is______________

The 4 main principles of US system are: Private Property/Entreprise, Profit & __________

The Nordic Model offers all of these things except:

Demand and Supply are factors that affect the competition of a company.

The freedom to start any business and offer it at a fair price is called __________

_________ is the set of rules for guiding the actions of employees.

The major drawback of the Nordic Model is __________

___________ is the duty of a business to contribute to the well being of a community.

Competition promotes which of the following ______________

Formal negotiation (in union terms) between 2 groups is called mediation

Madoff ran his company as if it were a legitimate trading company & sent out payments.

Pro Unions argue it decreases competition and aids lazy workers who will NOT be fired.

To be in a Union you must___________

The US is a PURE free market economy.

The role of the govt is all EXCEPT:

Another name for Market Economy is____________

The Nordic Model is a combo of Free Market & Capitalism.

Individuals can be charged with BOTH criminal and civil crimes.

A _________ is a word, letter or symbol linked to a specific company, also called a logo.

Profit is defined as_____________

Union Membership is on the rise.

Total Federal, State and Local spending makes up 20% of all good/services.