Chapter+5+&+6+Study+Questions

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 * Intellectual Property Rights include patents, trademarks, copyrights, and trade secrets. Explain each. Give an example of each.
 * How do consumers benefit from competition in business?
 * Give an example of non-price competition.
 * What is risk?
 * Identify and explain the four main functions of business operation.
 * Functions and regulations of government affect business. One role of government is regulation. Explain how each agency affects business:
 * Food and Drug Administration
 * Consumer Product Safety Commission
 * Equal Employment Opportunity Commission
 * Occupational Safety and Health Administration
 * Securities and Exchange Commission
 * Environmental Protection Agency
 * Federal Trade Commission
 * Some businessess believe their role in society includes actions affecting the workplace, the marketplace, the community and the environment.
 * List three examples of workplace benefits
 * List two examples of marketplace benefits.
 * List two examples of community benefits
 * List two examples of environmental benefits
 * Ethics are guidelines for good behavior. Ethical businesses follow the laws established for their operation. Explain an unethical behavior/practice of business.


 * Research a well-known business for the following information:
 * Classification (1-size and scope; 2-purpose; 3-place with the industry)
 * Functions (production, marketing, management, finance)
 * Write a report identifying the information you found.

__** ADDITITONAL STUDY QUESTIONS **__ * How do price competition and non-price competition differ? * What federal regulatory agencies protect: (a) consumers, (b) workers, (c) investors, (d) environment? * What are business ethics? * How do business ethics relate to law? * What ethical issues are in the marketing area? * What ethical issues are for personnel? * How does the role of government influence marketing? * Name six employee benefits that demonstrate social responsibility in the workplace. * What can businesses do in the marketiplace to demonstrate social responsibility? * How can a business support the community?