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Chapter.4.

QuestionAnswer
What is social responsibility? The duty of a business to contribute to the well being of a community.
What is a non- renewable resource? A natural resource that cannot be replaced when used up. Ex: gas, oil, minerals
What are business ethics? Rules about how businesses and their employees ought to behave.
What are the code of ethics? The code of ethics are rules for guiding the actions of employees or members of an organization.
What is a contract? An agreement to exchange goods or services for something of value, usually money.
What is a patent? Gives the inventor the sole right to make, use, or sell the item for 17 years.
What is a copyright. Protects the creative workk of authors, composers, and artists. Lasts for a lifetime and extends 50 years after death.
What is a trademark? A trademark is a word, letter, or symbol linked with a specific company or product.
What is public utility? Public utility is an organization that supplies a service or product vital to all people.
What is a monopoly? Exsists when a business has control of the market for a product or service.
Created by: morgie.marie
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