| A | B |
|---|
| bans types of business activities that do not promote competition | Antitrust Laws |
| Makes it illegal for competitors to get together and set prices on the products or services they sell | Sherman Act |
| makes it illegal for a business to require a customer to purchase one good in order to be able to purchase another good | Clayton Act |
| makes it illegal to charge different prices to different groups | Robinson-Patman Act |
| bans unfair or deceptive actions or practices by businesses | Wheeler-Lea Act |
| administers most of the laws dealing with a fair competition | Federal Trade Commission |
| A legal document that gives an inventor the sole right to produce, use and sell an invention. Last for 20 years. | Patent |
| the legal right to exclusive publication, production, sale, or artistic work last of 70 years or until the death of the author | Copyright |
| a name symbol or special mark that can be used only certain businesses | Trademark |
| bans discrimination against employees based on age, race, color, national origin, or religion or gender | Equal Employment Act |
| bands discrimination against employees based on disabilities | Americans with Disabilities Act |
| protects the welfare of workers by saving lives, preventing injuries protecting the health of America’s workers | Occupation safety and health administration |
| requires businesses with > 50 employees to provide leave if a s4erious health condition affects the employee or their family | Family Medical Leave Act |
| a legally binding agreement between two or more people | Contract |
| For a contact to be legally binding it must contain 4 elements, what are those elements? | Agreement, Consideration, Capacity and legality. |
| the study of moral choices and values deciding what is right and wrong | Ethics |
| the level of ethical behavior demanded by an individual, business, or culture | Code of Ethics |
| the application of the principles of right and wrong to issues that come up in the workplace | Business Ethics |
| What is the biggest reason people make unethical decisions in business? | Because some entrepreneurs believe that their only goal should be to increase profits |
| Why do you need to establish an ethical workplace? | 1. You want to be a role model for your employees 2. Ethical behavior gains the trust of customers 3. Acting ethical reduces the chance of being sued |
| How should you treat your customers? | 1. Treat all customers with respect 2. Be honest 3. Avoid exaggerating the merits of your products or services 3. Inform customers of possible dangers of the product you sell |
| As a business owner, what are your responsibilities to your community | 1. Donate products or services when you can 2. Get involved in community issues |
| Who enforces federal laws concerning clean air and water | Environmental Protection Agency (EPA) |
