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BE 202 EC-903
business ethics
| Term | Definition |
|---|---|
| Alternative resource | a resource that is used in place of another |
| Automation | tasks are completed by automated means, reducing human effort and labor |
| Baby boomers | people that were born between 1946 and 1964 |
| Capital goods | Manufactured or constructed items; items that are used to produce goods |
| Conserve | slowing down the use of something to make it last longer |
| Consumer goods and services | products produced for personal consumption |
| Demographics | information used to describe a population |
| Economic resources | human and natural resources and capital goods used to produce goods and services (factors of production) |
| Employee assistance program | a project that helps the company's employees |
| Entrepreneuers | people who assume risks to make a business |
| Entreprenuership | starting and running a business |
| Factors of production | productive resources |
| Financial capital | money needed to operate a business |
| Flextime | employees selecting their own working hours as long as they work those required hours |
| Fossil fuels | nonrenewable energy sources formed underground from fossilized plants and animals |
| Generation X | people born between the years 1965 and 1980 (Gen X) |
| Generation Y | people who were born between 1981 and 1995 (millenials) |
| Human resources | people who work to produce goods and services |
| Inventory | stock of goods |
| Just-in-time inventory | stock that arrives when its needed instead of being stockpiled |
| Natural resources | items that are found in nature to produce goods and services |
| Nonrenewable resources | natural items that can become depleted and cannot be used after gone |
| Producers | people who make and provide goods and services |
| Production | the economic activity of producing |
| Raw materials | items in their natural state or condition |
| Resource owners | those who provide human resources, natural resources, and capital goods in order for production to take place |
| Shared time | two employees are resposible forone full-time position |
| Stockpiling | Maintaining a large inventory |
| Technology | scientific applications to business objectives or the methods used to attain those objectives |
Created by:
GabrielRO
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