ME11 Unit 1 Review

A business moves its operations to a new town, leaving its current employees jobless. Some see this unethical but

A hypothetical process involving the gradual conversion of information into durable memory stored in long-term memory.

Which of the following is a way that entrepreneurship helps our society:

To find a career that’s best suited for your strengths, it’s important to be ______ about your strengths and weaknesses.

rules governing the operation of all government programs that have the force of law

Understanding business ethics can be difficult since

In which businesses or other organizations develop international influence or start operating on an international scale.

You decide not to take a certain action because you know it’s the wrong thing to do. You made this decision based on

Employees should seek positions that

Assessing personal strengths and weaknesses is a(n) __________ process.

Innovation means the improvement of an existing technological product, system, or method of doing something.

Knowing your strengths and weaknesses can help contribute to improved group performance because

What is a disadvantage of entrepreneurship?

A person who organizes, manages, and takes on the risks of a business is a Entrepreneurship

someone who works inside an existing organization who sees an opportunity for a product or service and mobilizes the Co.

Ethics is the customary code of polite behavior in society or among members of a particular profession or group.

In the early stages of a startup business, entrepreneurs assume sole responsibility for

A Corp. developed to help small businesses by taxing them as individuals in a partnership is a(n) __________ corporat

Morals are the principles of right and wrong that guide an individual in making decisions

What do business owners consider when they select a business ownership structure?

A person who organizes, manages, and takes on the risks of a business.

a broad franchise agreement in which the franchisee pays for the right to use the name, trademark etc.

Which of the following quotes encourages you to evaluate yourself as a person:

Which of the following statements is true regarding joint ventures:

One difference between business ethics and the law is that business ethics

A company goes bankrupt because of its unethical accounting practices. The reason for its unethical behavior might be

Risk means the degree of uncertainty of return on an asset; in business, the likelihood of loss or reduced profit.

The most likely reason an individual might turn a woodworking hobby into a business is because of

ABC Specialty is the only company that has written permission to use a national football team’s logo on its sportswear.

How can observing a role model help you assess your strengths and weaknesses?