PREPARATION MANUAL 2026
◉ What determines market price? Answer: Supply and demand.
◉ What is the standard of living? Answer: Quality of life based on
goods and services available.
◉ How does social media affect business? Answer: It enhances
communication and marketing opportunities.
◉ What does sustainability in business refer to? Answer: Operating
without negative long-term effects on society and the environment.
◉ What is a domestic system? Answer: Producing goods at home,
often by hand.
◉ What is business ethics? Answer: The application of moral
standards to business situations.
◉ What occurs during whistle-blowing? Answer: Employees report
unethical practices.
, ◉ What is plagiarism? Answer: Unauthorized use of someone else's
work.
◉ What was the purpose of the Sarbanes-Oxley Act of 2002?
Answer: To protect investors and ensure corporate accountability.
◉ What is a code of ethics? Answer: A written guide defining
acceptable behavior in an organization.
◉ What does social responsibility in business mean? Answer:
Considering the impact of business activities on society.
◉ What is consumerism? Answer: Activities to protect consumer
rights.
◉ What do affirmative action programs aim to do? Answer: Correct
past workplace discrimination.
◉ What is pollution? Answer: Contamination of air, water, or land.
◉ What does recycling in business do? Answer: Reduces waste and
environmental impact.