SEM Final Review 1

Ethics is

• doing what is easy

• not getting caught

• a system for deciding between right and wrong

• all the above

Principles

• are applied to only certain people

• are rules and codes of conduct for ethical behavior

• have no effect on businesses

• none of the above

Profit

• The amount of money remaining from income after all expenses are paid

• Amount of money earned

• Extra money

• Money found

A company's wealth in the form money and property

• Profit

• capital

• revenue

• allowance.

The study of how goods and services are produced, distributed and consumed

• Marketing

• Retailing

• Economics

• Uses

Risk is

• The possibility of injury

• possibility of losing credibility

• The possibility of financial gain or loss or personal injury

• Credit score adjustment

Occurs when not enough revenue is made to cover expenses

• Profits

• Balances

• Loss

• Forecast

Scarcity happens

• Always

• when a limited amount of a resource is available

• when resources are expensive

• When resources are lost

Categories of economic utiilty include

• place

• possession

• time

• all of the above

Sources of revenue for NFL teams include

• budgets, editing, and talk shows

• first downs, field goals, and passes completed

• TV, partners, sponsorships, and ticket sales

• all of the above