| A | B |
|---|
| OSHA | a government body that provides and enforces safety guidelines for the workplace |
| Administrative Law | includes rules and procedures that are regulated by a government agency |
| ADA | a federal act that protects people with disabilities from discrimination |
| Capitalism | an economic and political philosophy that is driven by the marketplace and competition, with only limited government involvement |
| Market Economy | the government is not invilved in business and the econmic decisions are made by individuals and companies |
| Socialism | An economic and political philosophy where the government provides for the people and owns many of the industries that provide necessary goods and services |
| Communism | an economic and political philosophy where they government owns all of the industry and provides for its people |
| Competition | occurs between business trying to gain customers, keep existing customers and take customers from their competitors |
| Command Economy | the government controls all factors of production(resources) and makes all the economic decisions |
| Private Enterprise | another term for a market economy, characterized by an individual's right to: private property, freedom of choice, profit, competition |
| Insurance | a form of risk management known as risk transfer. with _____, business can transfer their risk to the _____ company. the insurance company would cover the potential loss of property or people |
| Environmental Law | Includes state and federal statutes that protect the environment, wildlife, land, water and prevent pollution |
