Governments Enact Policies to

question 448

Multiple Choice

Governments enact policies to

• A)make the distribution of income more efficient.
• B)make the distribution of income more equal.
• C)maximize the use of the welfare system.
• D)minimize the use of in-kind transfers.

Realize the importance of a business plan's elements in securing financing.

Acknowledge the advantages and disadvantages of home-based businesses.

Grasp the criteria for small-business designation and related benefits.

Recognize the support role of the Small Business Administration (SBA) and Small Business Investment Companies (SBICs) in assisting small businesses.

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Definitions:

Fiduciary Duty

A duty to act in the best interests of another; such duty may arise between directors and officers and the corporation they serve, between business associates including senior employees and their employer, between agents and their principals, and between partners, also called utmost good faith.

Passing-Off

The tort of misleading the public about the identity of a business or product.

Employment Contract

A formal agreement specifying the terms and conditions of the relationship between an employer and an employee.

Trademark

A symbol, word, or phrase legally registered or established by use as representing a company or product.