DUCS Intro to Business Unit 1 Chapter 3-5

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

Promoting the welfare of others is called __.

Principles that help define appropriate behavior in a business setting are __.

The numeric system used to classify businesses & collect economic statistics is called the __.

__is when a business sells the right to manufacture its products or use its trademark.

A(n) __ contract lists the products or services provided by a business & the price customer pay

A __ is the simplest & most common form of business ownership.

A(n)__exists to serve some public purpose.

A __ an association of two or more persons who co-own a business to make a profit.

__is the process of sending & receiving messages between people of various cultures.

In a private enterprise system, __ directly provide consumers with products to meet need/want.

A partnership of two or more companies that work together for a specific business purpose is __

A __is a document that dictates how business should be conducted.

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

Planning & managing the flow of goods, services, & people to a destination is __.

A(n)__business is an organization that generates revenue.

A(n)__ is a proposal to provide a good or service.

Something of value promised in a contract is called __.

Business buys large quantities of products from producers & sell smaller quantities to retailer

A(n) __ is a contract to rent something.

The shared beliefs, customs, practices, & social behavior of a particular group or nation is __

A __ is a legally binding agreement between two or more people or businessess.

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

__are businesses that use supplies from other producers to make products.

The __ is the difference between a nation's exports & its imports.

The __ is a group of individuals who make high-level management decisions & policies for a corp

When one or more parties do not follow the agreed terms of contract, without reason a __ occurs

The business activity involved in making, buying, & selling product within nation's borders is_

The goods & services produced within a country's borders & sold in another country are __.

__ is when economies freely move goods, labor, & money across borders between nations.