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Government Book 7

Deciding a settlement on an issue
In business, manager who is a go-between in working with his employees and management
Taking business money illegally for private use
Risk-taking management; making the decisions that affect the future of the business
Refraining from; keeping away from
An easy-to-recognize symbol or artwork of a company
Executive oversight of a business
Concerned with the day-to-day and decisions of the firm
The people employed by a business
profit margin
The sum after the expenses of a business have been calculated; net gain
In charge of the day to day activities and decisions of the firm
Describe operational management
rob, Leviticus
“Thou shalt not defraud thy neighbor, neither ____ him; the wages of him that is hired shall not abide with thee all night until the morning.” __________ 19:13
entrepreneurial, operational management
What are the two aspects of management?
Concerning Southwest Airline’s success, researchers agree on one point: treat everyone with kindness and ________.
go-between or broker
In a corporation, the manager is the _______ between his employees and top management.
It is the manager’s job to _____ the wishes of top management in such a way as to motivate employees to carry out these wishes.
The chief principal of the four Biblical passages (Leviticus 19:13, Deuteronomy 24:14-15) on management is ______.
masters, Master, fear
(Ephesians 6:9) “And ye, ______ do the same things unto them, forbearing threatening; knowing that your _____ also is in heaven; neither is there respect of persons with him.” Management by _____ has no place in Christian management.
True. False.
Risk-taking management, which involves making basic decisions that affect the future of the business, is called entrepreneurial management.
Making decisions that affect the future of a business
What is entrepreneurship?
top management, board of directors
What people would make entrepreneurial decisions in a corporation?
top management
board of directors
individual worker
acting ethically
Acting within the good principles of society and within the accepted rules of proper behavior
Caveat Emptor
Latin Phrase means “Let the buyer beware”; buyer of defected goods cannot hold seller legally responsible
A news broadcaster or reporter who adds analysis after reporting
Printed certificates which offer the bearer certain financial advantages such as discounts or rebates
impulse buying
Buying without planning or forethought; “on the spot” purchase
A detailed accounting of all the goods in stock
An instrument used to measure the distance traveled by a vehicle
A deduction from a full purchase amount that is repaid to the consumer
return policy
Product may be brought back by the purchaser to the seller for an exchange
A guarantee that is legally binding to the company that issues it
return policy, warranty
Check prices on comparable items. It is also a good idea to check the store’s ________ and _______.
Caveat Emptor means “Let the buyer _____”
After Christmas is a time when the businesses wish to move a lot of _____ and ready themselves for the next sales season.
sheets and bedding
The end of the year white sale is a big chance for savings. What is usually on sale?
building standards, fire codes, zoning laws, licensing
Name the different types of state and local level regulations that a business might have to abide by.
The Federal Aviation Administration: regulates the airlines; The Federal Reserve Board: regulates the banks
Name two of the government agencies and their duties.
safety, danger
Most regulations have to do with the _____ of the individual who may be a customer of the business or a worker within the business. After all, a consumer wants to know that he can trust in the quality of the food or the safety of the toy he purchases. A worker wants to be in a workplace that does not pose a _____ to him.
electric companies
Some businesses have stricter guidelines, and even have their prices regulated. These price-regulated businesses are normally monopolies like __________.
building standards
Codes and rules instituted for the safety of a structure and the well-being of its inhabitants
To make payment to; to financially award a person
Legally binding written agreement between purchaser and seller
fire code
Specifications and safety measures required for buildings to protect against fire
A continuing increase in prices and weakening of the purchasing power of money
Granting of official permission to perform a business
purchasing power
Money’s actual worth for buying products
Restrictions and rules governing business conduct
wage-price spiral
Wage increases that compete with higher consumer prices in an ever-escalating upturn
zoning laws
Specific district allowances and restrictions, usually governing the flow of business
Banking service where a customer can write checks against the money he has available in his name
commercial bank
For-profit banks open to the public for saving accounts, loans and other financial activity
consumer protection laws
A governmental regulation; a mandate which is instituted to safeguard the purchaser
discount rate
Federal reserve-set interest rate to determine the amount needed to pay back the loan
Federal Reserve System
Central banking system of the U.S.; duties include a watchdog role in the regulation of banks
government securities
A government investment in businesses, guaranteeing repayment
open-market operations
Purchase or sale of government securities, regulates the money that banks can lend
reserve requirements
Money the Fed needs to have as a balance; change determines amounts banks repay, or retain
Banking service in which a customer is awarded interest on time he has kept money in the bank
Clayton Antitrust Act
A 1914 legislation that dealt against monopolies, particularly in the area of price-fixing
Commercial transactions between a customer and a seller
Contesting one another; the act of businesses which are fighting for the consumer’s dollars
The dividing sale, or liquidation of a corporation
A principle or value
An encouragement to strive for higher goals or profits
The combining of two or more corporations or businesses
Financial control of a market
Output; the result of manufacturing
Unofficial mergers formed to control prices and production in the market place
board of governors
A _____ and the Federal Open Market Committee oversee the operation of the Fed.
1) Issues the nations coin and paper currency; 2) Check money for wear and tear wile looking for counterfeits
Explain two of the responsibilities with the United States currency of bills and coins.
credit, reserve
The Federal Reserve System has the authority to expand ____ in case of a national emergency, power to set limits on the ______, and manage America’s supply of money.
The Fed is an ________ agency of the United States government.
True. False.
The U.S. Treasury keeps a checking account with the federal reserves.
True. False.
A bank might be seeing a hard pull on its deposits and lend to the Reserve Bank to help.
True. False.
One-third of the checks written in the U.S. are processed by the 12 Federal Reserve Banks, totaling more than $12,000 annually.
True. False.
The Fed works to keep the balance of financial strength at a healthy level by keeping interest rates low in recessions and letting them rise in economic “boom” times.
True. False.
All monopolies are bad.
True. False.
One of the largest investments in American history occurred when the U.S. Government ruled that AT&T Corporation was a monopoly that must be divided so that the telephone market might be more competitive.
True. False.
In 1911 the Standard Oil Company was divided into more than 30 separate companies.
True. False.
Monopolies are judged by how strong the competition is.
harder to make loans
When banks borrow money from a Federal Reserve Bank, they are given a certain interest rate to pay back the loan. If the Federal Reserve System raises the rate of interest, the banks will find it:
Harder to make loans
Easier to make loans
Easier to borrow more
Harder to borrow more
Week by week the finances in this country can change, so the selling and buying of ________ helps maintain equilibrium.
reserve requirements
Which statement is true?
1. The Fed was started in 1933.
2. The Federal Reserve also rules on applications from banks who want to merge.
3. The Fed has over 20 districts.
There are __ Federal Reserve Banks nationwide, and each one serves a specific region of the country, along with the Board of Governors in Washington, D.C.
1, 3, 5
In which 3 ways does the Fed manage the county’s money supply?
1. open-market operations (purchase or sale of government securities)
2. close-market operations (purchase or sale of banking transactions)
3. change the discount rate
4. inhibit inflation
5. change reserve requirements
6. international trade
laws created by the Fed
Truth-in-lending, Equal Credit Opportunity, and Home Mortgage Disclosure
monopoly, control
In a _____, one company, or even a small group of cooperating companies has ____ of the supply of a product or service.
mergers, production
Trusts are unofficial _____ formed to control prices and _______ in the marketplace.
board of directors
In 1914 the Clayton Antitrust Act prevented a merging of corporations to have intertwined ________.
raise prices
After the trusts had eliminated the competition, they would cut back on production and ________.
higher prices, lower quality, limitation or elimination on certain goods, poor service and attitude, no rival competition or alternative markets
What are the five dangers of a monopoly?
Encouragement to strive for higher goals or profits is called _____.
The dropping or relaxing of restraints and limits
Central points of a business
A huge union of large corporations or utilities
price-setting standard
Guidelines for controlling costs and expenditures by the consumer
Those that are in support of something
Realigning or adjusting to meet new qualifications or needs
Work done for others
Sherman Antitrust Act of 1890
Anti-monopoly act; awarded victims of a monopoly three times the amount the lost
technological advance
Growth through successful scientific research and strength
The act of being declared and legally insolvent
bankruptcy court
Legal proceedings that deal with concerns of those who have declared insolvency
One who owes money, goods, or services to another
The right to take, sell, or hold property as security or payment of a debt
Debtor surrenders nonexempt property to creditors, but pay debts that haven’t been forgiven
personal liability
A debtor must fulfill the monetary obligations from his personal financial fiances
A chapter 13 proceeding that requires the debtor to make planned payments to creditors for up to five years
secured debt
Promise to pay to another a certain amount of money which has collateral that the creditor may seize
Title 11
The section of the U.S. Code that deals with the rules and procedures of bankruptcy
unsecured debt
A promise or obligation to pay to another a certain amount of money which has no collateral
Deregulated Investor Owned Utilities are known as ____.
The Airline Deregulation Act was put into effect in ____.
purchasing, technological advances
The purpose of deregulation is open to the doors of competition to more businesses in order to offer consumers great choice in _____ services or products, to lower rates and to encourage ______ through competition.

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