Across
- 2. – A general increase in prices across the economy, reducing the purchasing power of money.
- 4. Advantage – The ability of a business to outperform competitors by offering greater value, such as through speed-to-market or customer relationships.
- 5. – A set of beliefs about right and wrong, good and bad, guiding individual behavior.
- 7. Ethical Standards – Ethical norms that apply to all people across various situations.
- 9. Resources – Inputs that offer value in their natural state and are essential for production.
- 11. Competition – A market structure where many competitors sell identical products, with little to no control over pricing.
- 17. of Trade – The difference in value between a nation’s exports and imports.
- 20. – Limits set on the amount of a specific product that can be imported into a country.
- 21. of Ethics – A formal written document outlining a company’s ethical standards and guiding employee decision-making.
- 22. – A person who risks their resources to start and manage a business.
- 24. Trade – An international economic movement that allows goods and services to move freely across national borders without restrictions.
- 26. – Taxes imposed on imported goods to make them more expensive and restrict international trade.
- 28. Cost – The value of the next best alternative that is forgone when a decision is made.
- 29. Footprint – The total amount of harmful greenhouse gases emitted by a company during its operations.
- 30. – Employees who report illegal or unethical behavior of their employer to authorities or the media.
- 33. Dilemmas – Situations where one must choose between conflicting values, such as honesty versus loyalty.
- 34. Ethics – The application of right and wrong, good and bad, in a business setting.
- 37. – A social movement advocating for the rights of consumers, including the right to be informed, safe, and heard.
- 38. – The amount of a product or service that consumers are willing to buy at a certain price.
- 39. – The study of smaller economic units, including individual businesses and consumers.
Down
- 1. – Money earned by a business after subtracting expenses from revenue.
- 3. – The variations in values, beliefs, and practices among different cultures that can affect business practices.
- 6. – The amount of a product or service that businesses are willing to sell at a certain price.
- 8. – A market structure where a single producer dominates the industry, leaving no room for competitors.
- 10. Rate – The percentage of people in the labor force who do not have jobs and are actively seeking employment.
- 12. Deficit – Occurs when the total value of a nation's imports is higher than the total value of its exports.
- 13. – An organization that employs people and produces goods or services but aims to contribute to the community rather than generate profit.
- 14. – A period of economic downturn marked by a decrease in the GDP for two consecutive quarters.
- 15. – The study of a country’s overall economic dynamics, such as the overall economy, inflation, employment rates, and GDP.
- 16. – Occurs when a business’s expenses exceed its revenue.
- 18. Development – Conducting business in a way that meets present needs without compromising the ability of future generations to meet their needs.
- 19. Domestic Product – The market value of all final goods and services produced within a country during a given period.
- 23. Policy – Government efforts to influence the economy through taxation and spending decisions to encourage growth, reduce unemployment, and control inflation.
- 25. – The physical, financial, or technological resources a business needs to produce goods or services.
- 27. Franchising – A business model where a firm allows foreign businesses to operate using its products, branding, and business model according to specific operational requirements.
- 31. Surplus – Occurs when the total value of a nation's exports is higher than the total value of its imports.
- 32. Licensing – A domestic company grants a foreign company the rights to produce and market its product or use its intellectual property in a defined geographical area.
- 35. Responsibility – The obligation of a business to contribute positively to society.
- 36. Policy – Actions that shape the economy by influencing interest rates and the supply of money, managed by the Federal Reserve.