Prin of Bus midterm review

Anything that can be bought or sold.

Willingness and ability to start a new business.

Business that is owned and operated by those using its services.

Business that is owned and often operated by a single individual.

Behaving with sensitivity to social, environmental, and economic issues.

Organized way in which a nation chooses to use its resources to create goods and services.

Individual or group who buys products.

Alternating periods of expansion and contraction in the economy.

Business that sells primarily to other businesses.

Total money circulating at any one time in a country.

A government tax on imported goods.

Legal responsibility.

Money necessary to start and open a business.

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

Describes the terms of employment between a business and an employee.

Alternating periods of expansion and contraction in the economy.

The central bank of the United States that is responsible for the country’s monetary system.

Business that uses supplies from other producers to make products.

Property or items of value a business owns.

Honesty of a person’s actions.

Business that is co-owned by two or more general partners who are responsible for business operations.

Rules of behavior based on ideas about what is right and wrong.

Action or task that is performed, usually for a fee.

Overstating the features and benefits of products or making false claims about them.

Promoting the welfare of others.

All of the people in a nation who are capable of working and want to work.

Products businesses use to produce other goods.