POB Chapter 3 and 5 Review

Which of the following is not a major part of a contract?

What is the Consumer Bill of Rights?

Contracts must be signed in order to be legally binding?

Any work created by employees on the job that is owned by the company

Works to prevent unfair competition and deceptive advertising.

Rules of behavior based on a group's ideas of right and wrong.

The company that sells a license is known as the ______.

The cost to convert one currency into another is called _______.

Principles that help define appropriate behavior in a business setting.

An individual's ideas of what is right and wrong.

Overstating the features and benefits of a product would be considered _______.

goods, services, and capital that are brought into a country from outside its borders

Total money coming into a country minus the total amount going out for a specific period.

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

A business that operates in more than one country is a _______.

Which of the following is not a main consideration when expanding a business to another country

Buying and selling goods across national borders.

A country imposes tariffs on another country. What is the most likely result

Which of the following is a good explanation for "consideration" as it relates to business.

A US & Chinese company have partnered together to help the US company expand to China. This is

Having people from different backgrounds, cultures, or demographics coming together in a group

Businesses are required to give all workers equal advancement and employment opportunities?

NAFTA is an example an agreement that reduces trade barriers. This has created a _______

Mr. Norwood wants to use a product that is patented by another company but market/sell it as his own.

when a country can produce goods more efficiently and at a lower cost than another country

Why do governments sometimes implement trade barriers?

A company's code of conduct is likely to include rules about ______.

What is the most likely result of a government implementing a trade barrier against another country

A term that has to do with negotiating terms between employers and union employees.

The body of laws related to the exchange of goods & services for international trade is called

Describes how the employees and owners of a company think, feel, and act as a business.

What could happen if you use company property help create your own startup business.

The person or company that buys the rights to use a brand.

connection made among nations when economies freely move goods, labor, & money across borders

If a country wanted to stop all trade with another they would put this trade barrier in place.

A contract formed when two or more individuals form a business

Which of the following is not a benefit for companies giving back to the community?

Embargo that affects only certain goods.

A business promotes common good by investing in eco friendly equipment. This is an example of

When a country specializes in producing a product at which it is relatively more efficient.