Business Ethics Flashcard

Front

A major task of business is to provide utility.

Back

True

Front

Consumer market is 1) Providing products 2) Creating markets 3) Generating economic benefits.

Back

False

Front

Ethics is a set of rules that help define appropriate behavior in a business setting.

Back

True

Front

Products are money earned in exchange for work.

Back

False

Front

Businesses focus on satisfying customers' needs and wants. A business could not continue without satisfied customers.

Back

True

Front

A level of material comfort measured by the goods, services, and luxuries available.

Back

Standard of living is

Front

Gains that are measured in terms of money.

Back

Economic benefits are

Front

Consists of all activities that identify, anticipate, and satisfy customer demand while making a profit.

Back

Marketing

Front

A physical item that can be touched.

Back

Good

Front

The difference between the income earned and expenses incurred by a business during a specific period of time.

Back

Profit