False
To be valid and enforceable,contracts must be in writing and signed by both parties.
True
A logo is a trademark linked with a specific company or product.
False
The age discrimination in employment act protects people once they reach age 65.
True
Intrastate commerce involves companies doing business in only one state.
True
When a business controls the market for a product or service it has a monopoly .
False
Microsoft Corporation is the single largest employer in the United States.
False
The governments sole source of income is taxes, such as income,property, and sales taxes.
True
A business's duty to contribute to the well being of the community is its social responsibility.
Results in an unfair benefit
conflict of interest
Connot be replaced once it has been used up
Non-renewable resource
Protects the work of authors, composers, and artists
Copyright
Saves scarce natural resources
conservation
Guides the actions of employees
code of ethics
Prevent unfair business practices
antitrust laws
Supplies a product or service vital to all people
public utility
Occupational Safety and Health Administration (OSHA)
Regulates safety standards
Environmental Protection Agency
Monitors and enforces standards for water and air quality
Department of Commerce
provides information to help companies make good business decisions
Small Business Administration (SBA)
Helps new businesses get started by offering business loans
Environmental Protection Agency (EPA)
Works closely with businesses to reduce pollution
Lumber is an example of a non-renewable resource
False
OSHA is a federal agency that regulates workplace safety standards
True
Principles of mortality or rules of conduct are called ethics
True
The US government does not play a major role in the American economy
False
Your computer is an example of intellectual property
False
A trademark is a word,letter, or symbol linked with a specific company or product
True
Most goods and services you use are provided by the US government
True
All public utility companies are owned and operated by state governments
False
A monopoly exists when a business has control of the market for a product or service
True
Government income is called revenue
True
Removing workplace barriers for women and accommodating employees who are physically challenged are ways a business can contribute to
Workplace diversity
A set of rules guiding the actions of employees is called
Code of ethics
Copyright protections last for
The life of the copyright holder
What is an example of a public utility
electric company
Government attempts to prevent monopolies with
antitrust laws
The single largest employer in the US economy is
state, local, and federal government
interstate commerce
business dealings involving companies in more than one state
conservation
saving scarce natural resources
patent
gives the inventor the sole right to make, use, or sell the item for 17 years
property tax
A tax levied on the value of land and buildings
sales tax
A tax levied on goods and services that is collected by the seller
intrastate commerce
business dealings involving companies that do business in only one state.
pollution
occurs when the environment is tainted with the by-products of human actions.
contract
An agreement to exchange goods or services for something of value
Copyright
protects the creative work of authors, composers, and artists
Conditions of work
Clauses in labor contracts that pertain to employee health and safety while on the job
Refers to the duty of a business to contribute to the well being of a community
Social responsibility
Occurs when an individuals or company's actions result in an unfair benefit
Conflict of interest
The four elements of a legal contract are agreement,competent parties, legality and
Consideration
An oragization that supples a service or product vital to all people
Public utility
Laws prevent such practices as false advertising and misleading labeling
Antitrust