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DECA KT PMK TEST 24-48

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Terms in this set (24)

locating and hiring employees to perform the jobs that are necessary in order for a business to operate

deciding what work will be done and how it will be accomplished

providing guidance to workers and work projects

setting up the way the business's work will be done

an economy in which the government owns part of the means of production and there is private ownership of business as well

no private ownership of the means of production and distribution, government controls all

free market economic system in which individuals and groups, rather than government, own the means of production and distribution

Entrepreneurship

one who owns and operates his/her own business

Operating expenses

all of the costs involved in actually running a business

The National Labor Relations Board

administers federal labor- management relations laws, resolves labor disputes, such as strikes, and prevents unfair labor practices

The Federal Trade Commission

prevents price fixing, prohibits unfair competitive prices, and regulates false or deceptive advertising

The Consumer Product Safety Commission

sets and enforces safety standards for various kinds of consumer products

The Food and Drug Administration

regulates foods, cosmetics, and drugs to prevent the sale of unsafe items

employees should address their roles, personal traits, skills, and abilities

the ability to guide or direct the actions of others