ME11 Unit 1 Review

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

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

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

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

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

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

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

What is a disadvantage of entrepreneurship?

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

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

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

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

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

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

Understanding business ethics can be difficult since

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

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

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

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

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

Which of the following statements is true regarding joint ventures:

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

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

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

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

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

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

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

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