| A | B |
|---|
| Examples of renewable resources? | water, wind, sun, solar energy, lumber |
| What agency regulates workplace safety? | OSHA |
| What are ethics? | Principles of morality or rules of conduct. |
| T or F. The U.S. gov't plays a major role in the American economy? | True |
| What is intellectual property? | purely intangible, with no physical characteristics – can not be touched |
| A word, letter or symbol linked with a specific company or product? | Trademark |
| T or F. Public utility companies are not owned by the state government? | True |
| What is a monopoly? | A company has control of the market for a service or product. |
| What is another word for government income? | revenue |
| What are examples of socially responsible activities? | Expanded justice for groups of a society, Enhanced company image, Reduced need for government actions, Improved quality of life in community/world, Increased awareness of social issues among workers, consumers, and others |
| What are ethics? | Principles of morality or rules of conduct |
| What is social responsibility? | It is the duty of a business to contribute to the well-being of a community. |
| What are business ethics? | Rules about how businesses and their employees should behave |
| What are a code of ethics? | Set of rules for guiding the actions of employees or members of an organization. |
| How does a government prevent monopolies? | By establishing anti-trust laws? |
| What are the roles of the government? | Providing services for members of society; Protecting citizens, consumers, business, and workers; Regulating utilities and promoting competition; Providing information and support to businesses; Buying goods and services; Hiring public employees; raising revenues |
| What is intrastate commerce? | Business conducted within the state. |
| What is interstate commerce? | Business conducted in two or more states. |
| What is a conflict of interest? | When a company's or an individual's actions result in an unfair benefit. |
| What are the four elements of a contract? | Consideration; legality; competent parties; agreement |
| What is a copyright? | Protects the creative work of authors, composers, and artists for their lifetime + 70 years |
| What is a patent? | Gives inventor sole right to make, use, or sell the item for twenty(20) years |
| What are the 3 taxes that the government uses to raise revenue? | income tax; sales tax; property tax |
| How does the government borrow money? | By selling bonds. |
