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
