BA 101 Study Guide - Midterm Guide: Gross Domestic Product, A Question Of Balance, Sole Proprietorship

• School: Oregon State University
• Department: Business Administration
• Course: BA 101
• Professor: Jon Broome

Document Summary

If a person buys 10% of the stock of a company, that person is then: considered an owner of the company and has equity in the company. In business when we refer to the "triple bottom line" we are referring to. A socialist system is defined by all economic decisions are made without government intervention. Economic contraction is a slowdown of the economy characterized by a decline in spending and during which businesses cut back on production and lay off workers true. Gross domestic product is defined as: sum of goods produced in a year. Ethics are defined the same across all industries. The extent to which businesses meet the legal, ethical, economic, and voluntary responsibilities placed on them by their stakeholders is called: The physical facilities supporting a country"s economic activities, such as railroads, highways, ports, airfields, utilities and power plants, schools, hospitals, communication systems and commercial distribution systems is called superstructure.