NEW
Font size
WorksheetsPrinciples of Business 9e Chapter 4
Total questions: 35
Worksheet time: 18mins
Lumber is an example of a nonrenewable resource.
True
False
OSHA is a federal agency that regulates workplace safety standards
True
False
Principles of morality or rules of conduct are called ethics.
True
False
The U.S. government does not play a major role in the American economy.
True
False
Your computer is an example of intellectual property.
True
False
A trademark is a word, letter, or symbol linked with a specific company or product.
True
False
Most goods and services you use are provided by the U.S. government.
True
False
All public utility companies are owned and operated by state governments.
True
False
A monopoly exists when a business has control of the market for a product or service.
True
False
Government income is called revenue.
True
False
Removing workplace barriers for women and accommodating employees who are physically challenged are ways a business can contribute to
environmental protection
job safety
workplace diversity
employee wellness
All of the following are benefits of socially responsible activities EXCEPT
enhanced company image
money spent for wellness program may reduce company profits
reduced need for government regulations
improved quality of life
A set of rules guiding the actions of employees is called a(n)
code of ethics
mission statement
organization chart
statement of purpose
Government is concerned with all of the following EXCEPT
raising revenue
buying goods and services
hiring private-sector workers
regulating utilities
Contracts
must be written to be valid
can be entered into by any two U.S. citizens
need not be accepted to be valid
must be for a product or service that can be legally sold
Copyright protection lasts for
the life of the copyright holder, plus 70 years after the copyright holder’s death
the life of the copyright holder
20 years
50 years
Which of the following is an example of a public utility?
professional football team
police department
insurance company
electric company
Government attempts to prevent monopolies with
free-trade zones
antitrust laws
right-to-work laws
enterprise zones
The single largest employer in the U.S. economy is
Microsoft
General Motors
state, local, and federal government
McDonald’s
Business dealings involving companies in more than one state.
interstate commerce
intrastate commerce
pollution
copyright
Saving scarce resources.
pollution
interstate commerce
intrastate commerce
conservation
The tax levied on the money you earn at your job is called
luxury tax
income tax
sales tax
inheritance tax
Gives the inventor sole right to make, use, or sell an item for 20 years.
contract
copyright
patent
conservation
A tax levied on the value of land and buildings.
sales tax
property tax
interstate commerce
intrastate commerce
Business dealings involving companies that do business in only one state.
interstate commerce
conditions of work
patent
intrastate commerce
Occurs when the environment is tainted with the by-products of human actions.
conservation
pollution
patent
conditions of work
A tax levied on goods and services that is collected by the seller.
sales tax
property tax
copyright
contract
An agreement to exchange goods or services for something of value.
patent
pollution
contract
conditions of work
Protects creative work of authors, composers, and artists.
contract
patent
conditions of work
copyright
Clauses in labor contracts that pertain to employee health and safety while on the job.
conditions of work
interstate commerce
intrastate commerce
conservation
Refers to the duty of a business to contribute to the well-being of a community.
social responsibility
conflict of interest
public utility
antitrust laws
Occurs when an individual’s or company’s actions result in an unfair benefit.
social responsibility
conflict of interest
public utility
antitrust laws
The four elements of a legal contract are agreement, competent parties, legality, and
consideration
contract
patent
copyright
An organization that supplies a service or product vital to all people.
conditions of work
patent
conservation
public utility
______ laws promote competition and prevent such practices as false advertising and misleading labeling.
Contract
Copyright
Antitrust
Conservation
