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28 Cards in this Set
- Front
- Back
A ______ ______ economy has characteristics of both planned and market economies.
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Mixed Market
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An ____________ is an individual who accepts the risks and opportunities entailed by creating and operating a new business.
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Entrepreneur
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The fund needed to create and operate business enterprise are ______.
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Capital
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A __________ shows how many of a given product will be bought at different prices.
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Demand Curve
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The process of converting government enterprise into privately owned firms is called ________.
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Privatization
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The point at which the supply curve and demand curve intersect on a graph is referred to as the _________.
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Equilibrium Price
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A _______ occurs when the quantity supplied exceeds the quantity demanded.
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Surplus
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_________ occurs when two or more business vie for the same resources or customers.
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Competition
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When the quantity demanded exceeds the quantity supplied a ______ will result.
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Shortage
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A __________ exists when an industry or market has only one producer.
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Monopoly
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The ________________________ referes to the total value of all goods and services produced within a given period by a national economy though domestic factors of production.
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Gross Domestic Product
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The ___________ is the pattern of short-term ups and downs in an economy.
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Business Cycle
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___________ is the economic condition characterized by widespread increased prices without increased purchasing power.
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Inflation
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The _________ is the amount of money that the government owes to it's creditors.
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National Debt
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Behavior that conforms to individual beliefs and social norms about what is right and good is referred to as ___________.
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Ethical Behavior
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__________ refers to ethical or unethical behaviors by employees in the context of their jobs.
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Business Ethics
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A behavior that does not conform to accepted beliefs and social norms is defines as ________.
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Unethical Behavior
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An _________ stance to social responsibility involves doing as little as possible and may involve attempts to deny or cover up violations.
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Obstructionist
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__________ are groups, individuals, and organizations that are directly affected by the practices of an organization.
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Organizational Stakeholders
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__________ occurs when someone uses confidential information to gain front eh purchase or sale of stocks.
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Insider Trading
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An employee who discovers and tries to put an end to a company's unethical, illegal, or socially irresponsible actions by publicizing them is called a ____________.
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Whistle-blower.
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A company's _________ formally acknowledges the intent to do business in an ethical manner.
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Code of Ethics
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First that adopt and _________________ to social responsibility meet there legal requirements and exceed legal minimums when specifically asked.
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Accommodative Stance
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The systematic analysis of an organization's succession using funds earmarked for it's social responsibility goals and is called a ____________.
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Social Audit
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Organizational stockholders can best be defined as individuals and groups that are _____________________________________ of an organization.
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Directly Affected by the Practices
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When two or more firms agree to collaborate on wrongful acts, it is referred to as ____________.
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Collusion
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_______________ is using advertising to project a green imagine imagine without adoption substantive environmentally friendly changes.
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Greenwashing
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Responding to increased demand with overly steep, and often unwarranted, price increase is called _________.
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Price Gouging
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