Intro to Business Study sheets for Mid-terms
Chapter 1
Business:________________________________________________________________________________________________________________________________________________
Non-profit organization:________________________________________________________
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What are the 3 types of resources used by businesses?
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Globalization:_____________________________________________________________________________________________________________________________________________
Communism:_____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Socialism:________________________________________________________________________________________________________________________________________________
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Capitalism:_______________________________________________________________________________________________________________________________________________
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Free Market system:___________________________________________________________ ____________________________________________________________________________
Mixed Economy:______________________________________________________________
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Economic expention:___________________________________________________________ ________________________________________________________________________________________________________________________________________________________
Inflation:_____________________________________________________________________
Contruction:__________________________________________________________________
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Unemployment:_______________________________________________________________
Deprssion:___________________________________________________________________
Pure competition:______________________________________________________________
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Monopolistic competition:_______________________________________________________
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Oligopoly:_______________________________________________________________________________________________________________________________________________
Monopoly:_______________________________________________________________________________________________________________________________________________
Monetary Policy:______________________________________________________________
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Chapter 2
Constitutional law:_____________________________________________________________
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Common law:_________________________________________________________________
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Statuary law:_________________________________________________________________
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Administrative law:____________________________________________________________
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Federal courts handle cases involving:_____________________________________________
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Provincial courts handle cases involving:___________________________________________
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Law Suits:___________________________________________________________________
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Mediation:___________________________________________________________________
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Arbitration:_______________________________________________________________________________________________________________________________________________
Chapter 3
Business ethics:_______________________________________________________________
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Social responsibility:___________________________________________________________
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Ethical issue:_________________________________________________________________
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What are the reasons for committing to ethical values?________________________________
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Whistle Blowing:______________________________________________________________
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Reasons for not whistle blowing:
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What are the 4 ethical issue categories?
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What are the 3 factors that influence business ethics?
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"moo business cards"1._______________________________________________________________________________________________________________________________________________________
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Name the arguments for social responsibility:
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Name the arguments against social responsibility:
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What are the social responsibility issues?
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Chapter 4
International business:__________________________________________________________
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Why do nations trade?__________________________________________________________
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Absolute advantage:____________________________________________________________
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Comparative advantage:________________________________________________________
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Balance of trade:______________________________________________________________
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Trade surplus:________________________________________________________________
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Balance of payments:___________________________________________________________
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What happens when the Canadian $ drops?_________________________________________
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What are the 4 international barriers?
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Infrastracture:_________________________________________________________________________________________________________________________________________________________________________________________________________________________
Import tariff:__________________________________________________________________
Fixed tariff:__________________________________________________________________
Ad valorem tariff:_____________________________________________________________
Current account:_______________________________________________________________
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Dumping:________________________________________________________________________________________________________________________________________________
Protectionism:____________________________________________________________________________________________________________________________________________
Exchange control:_____________________________________________________________
Quata:___________________________________________________________________________________________________________________________________________________
Embargo:____________________________________________________________________
GATT:______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
NAFTA:_____________________________________________________________________________________________________________________________________________________________________________________________________________________________
EU:_________________________________________________________________________________________________________________________________________________________________________________________________________________________________
World bank:__________________________________________________________________
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IMF:________________________________________________________________________________________________________________________________________________________________________________________________________________________________
What did the GATT agreement do?________________________________________________
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Countertrade:_________________________________________________________________
Export agents:________________________________________________________________
Red tape:____________________________________________________________________
Trading company:_____________________________________________________________
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Licensing:________________________________________________________________________________________________________________________________________________
Franchising:______________________________________________________________________________________________________________________________________________
Cartel:_______________________________________________________________________________________________________________________________________________________________________________________________________________________________
Common markets:_____________________________________________________________
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Contract manufacturing:________________________________________________________
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Joint venture:_________________________________________________________________
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Strategic alliance:______________________________________________________________
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Direct investment:_____________________________________________________________
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Outsourcing:______________________________________________________________________________________________________________________________________________
MNC:___________________________________________________________________________________________________________________________________________________
Chapter 5
Sole proprietorship:____________________________________________________________
Advantages:______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Disadvantages:____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Partnership:__________________________________________________________________
What are the 3 types of partnerships?
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Advantages:______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Disadvantages:____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Corporation:______________________________________________________________________________________________________________________________________________
What are the 2 types of corporations?
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Advantages:______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Disadvantages:____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Other types of corporations:
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Cooporative:______________________________________________________________________________________________________________________________________________
How do corporations grow?______________________________________________________
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Merger:__________________________________________________________________________________________________________________________________________________
Horizontal merger:_____________________________________________________________
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Vertical merger:_______________________________________________________________
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Acquisition:______________________________________________________________________________________________________________________________________________
Reasons for going into other business:_____________________________________________
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LBO:_______________________________________________________________________________________________________________________________________________________________________________________________________________________________
Chapter 6
Entrepreneurship:__________________________________________________________________________________________________________________________________________
Small Business:_______________________________________________________________
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What does it take to succeed as an entrepreneur?_____________________________________
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The keys to small business success:________________________________________________
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Why do small business fail:______________________________________________________
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Why do bankers turn down loans?_________________________________________________
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Advantages of a franchise:_______________________________________________________
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What aspects of the business will the franchiser control?_______________________________ ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________
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Disadvantages of a franchise:____________________________________________________
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Questions that WILL be on the exam!
1. What are the 3 types of organizations?
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2. Discuss the barriers of international business.
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3. What is the roll of a small business in our economy? (p.131)
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4. Summarize the different levels of organizational trade. (p.96 chap. 4)
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