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DSST Intro to Business

Although they do not engage in direct economic

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although they do not engage in direct economic exchange with the business - are affected by or can affect its actions. (For example the general public, communities, activist groups, business support groups, and the media) 18. Also what is the most corrupt country in business dealing. ...Mexico , egypt, malasia. ..forget the other  one. 19. What is a third party person called that helps resolve an issue between the government and a private  party? (Mediator, negotiator, arbitrator, lawyer) 20. Small business owners are assisted in getting loans through? (Government, Small Business  Association, Local banks, Corporations)  21. A soft drink Company sells numerous products like Soda, water, juice etc. . This would be an example  of?   Product mix.  22. Equilibrium price is when?  Supply and Demand cross on the chart. 23. When you show a new employee around the office and introduce them to coworkers that is called?  ( Orientation, on the job training, vestibule training, hiring)  24. What type of organization allows employees to make decisions that are not in line with the companies  norms.? ( informal, Basic, general, autocratic) 25. What is it called when  you  are guaranteed that  you  will get repaid at face value after a specific  amount of time? (loan,  Bond, coupon, stock) 26. Who is the father of Scientific Management?  Fredrick Taylor. 27. What is Trade deficit?-  When a country imports more than it exports, the resulting unfavorable trade  balance is called a trade deficit. 28. Balance of Trade –  The total value of the products a nation exports minus the total value of the  products it imports, over some period of time. 29.  What is NAFTA?-  30.   If you are part of a Franchise and the Website the Franchise was using was wrong and you lost  money as a result. The Owner of the Franchise should do what for the Franchisee? (Reverse royalties,  Gain-sharing, profit sharing)  I put Reverse royalties??? 31.  Collective Bargaining – A  method  of  negotiation  in which  employees  use authorized  union   representatives  to assist them.
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INTRO TO BUSINESS 32.  Preferred Stock: Preferreds are senior (i.e. higher ranking) to  common stock , but are subordinate to  bonds .Preferred stock usually carries no voting rights, [2]  but may carry a  dividend  and may have priority  over  common stock  in the payment of dividends and upon  liquidation 33.   Marketing Mix: cosmists of 4 elements: product, price, place (distribution), and promotion 34. A neutral party that renders a decision between two parties  arbitrator 35.  Trade restrictions  embargo 36.  Job specification  Job Specifications, or Job Specs., are details and descriptions about a job that serve 
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