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Principles of Business: Chapter 4

Select the correct term for each definition.

AB
Antitrust Lawslaws that prevent monopolies and promote competition and fairness
Business Ethicsrules about how businesses and their employees ought to behave
Civil Casea legal action in which a plaintiff asks the court to take action against a defendant
Code of Ethicsa set of rules for guiding the action of employees or members of an organization
Conditions of Workclauses related to employee well-being while on the job that are oft en included in labor contracts and company policy manuals
Conflict of Interesta situation in which an action by a company or individual results in an unfair benefit
Conservationsaving scarce natural resources
Contractan agreement to exchange goods or services for something of value, usually money
Copyrightthe protection of the creative work of authors, composers, and artists
Criminal Casea legal action brought for violations of criminal laws
Intellectual Propertytechnical knowledge or creative work. It includes soft ware, clothing designs, music, books, and movies
Interstate Commercebusiness dealings involving companies in more than one state
Intrastate Commercebusiness dealings involving companies that do business in only one state
Monopolywhen a business has control of the market for a product or service
Non Renewable Resourcea natural resource that cannot be replaced when used up
Patentthe exclusive right of an inventor to make, sell, and use a product or process
Pollutionoccurs when the environment is tainted with the by-products of human actions
Property Taxa major source of revenue for local governments based on the value of land and buildings
Public Utilityan organization that supplies a service or product vital to all people including companies that provide local telephone service, water, and electricity
Revenuegovernment income
Sales Taxa state or local tax on goods and services that is collected by the seller
Social Responsibilitythe duty of a business to contribute to the well-being of a community
Trademarka distinctive name, symbol, word, picture, or combination of these that a company uses to identify products or services

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