Principles of Business Final Exam

Benefits- A tangible outcome of an action or decision that contributes towards reaching one or more business objectives

Bull Market-increase in prices of stocks; market is up

Bear Market-decrease in prices of stocks; market is down

Business Ethics- A practice that determines what is right, wrong, and appropriate in the workplace.

Capital Resources- Structures, supplies, money, and equipment.

Capitalism- An economic and political system in which a country's trade and industry are controlled by private owners for profit.

Command economy- An economy in which production, investment, prices, and incomes are determined centrally by a government.

Commission- A payment made to employees based on the value of sales achieved.

Compensation- Monetary payment given to an individual in exchange for their services.

Competition- With competition it is hard for companies to raise prices because they know they will lose you as a customer.