Intro to Business Chapter 4

The Americans with Disabilities Act (ADA) requires that a company

find ways to help workers who are physically challenged

Antitrust laws

Laws designed to promote competition and fairness and to prevent monopolies.

EPA

Monitors set standards for water and air quality.

Which of the following is NOT a form of intellectual property

Contract

Which of the following is NOT an intellectual property?

Contract

A ___________________ would protect the composer's musical score.

Copyright

Patent

Gives the inventor the sole right to make use or sell the item for 21 years.

An example of a non-renewable resource would be

Gold

Non-Renewable Resource

Is a natural resource that cannot be replaced when used up.

Trademark

Is a word, letter, or symbol linked with a specific company or product.

Contract

Is an agreement to exchange goods or services for something of value, usually money.

Interstate Commerce

Is business dealings involving companies in more than one state.

Fire and police protection are the main responsibility of

local government

Antitrust laws are designed to

maintain competition

Monopoly

A business that has complete control of the market for a product or service.

Public Utility

A business that supplies a service or product vital to all people; the price charged for the service is determined by government regulation rather than competition.

Code of Ethics

A set of rules for guiding the actions of employees or members of an organization.

Intellectual Property

Is purely intangible with no physical characteristics. Includes patents, copyrights, and trademarks.

Conservation

Is saving scarce natural resources.

True or False. A monopoly is never a benefit to a consumer.

False

True or False. International trade with other countries is the responsibility of state and local governments.

False

True or False. The Occupational Safety and Health Administration (OSHA) regulates trade.

False

When you are considering ethics in business situations, you should follow all of the guidelines except

How does the action impact you?

_________________________commerce is business dealings involving companies in more than one state.

Interstate

_____________________ commerce refers to business dealings involving companies that do business in only one state.

Intrastate

Which of the following organizations regulates safety and health standards?

OSHA

Pollution

Occurs when the environment is tainted with the by-products of human actions.

Ethics

Principles of morality or rules of conduct.

Copyright

Protects the creative work of authors, composers, and artists.

Intrastate Commerce

Refers to business dealings involving companies that do business in only one state.

Social Responsibility

Refers to the duty of a business to contribute to the well being of a community.

OSHA

Regulates workplace safety standards.

Which of the following is NOT an element of a contract?

Roles and Responsibilities

Business Ethics

Rules about how businesses and their employees ought to behave.

A ____________________ tax is a common source of revenue for state and local governments.

Sales

ADA

Short for the Americans with Disabilities Act

True or False. A company code of conduct is written in a way that stresses acceptable behavior.

True

True or False. An intellectual property is purely intangible, with no physical characteristics.

True

True or False. An oral contract can be legally binding.

True

True or False. The SBA (Small Business Administration) provides government financial assistance to small business owners.

True

True or False. There are both benefits and costs to social responsibility.

True

Which of the following is NOT an example of a tax?

Water Tax

Which part of the federal government regulates safety standards for water and air quality?

Which part of the federal government regulates safety standards for water and air quality?

A code of ethics is designed to

provide guidelines for proper behavior