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Business Ethics

Key Terms

Business EthicsKey Terms

Key Terms

advertising
commercial messages urging the purchase of new or improved products or services that reach us in every medium: print, online, digital, television, radio, and outdoor
Affordable Care Act (ACA)
the Patient Protection and Affordable Care Act of 2010, often known as the Affordable Care Act or simply “Obamacare,” a comprehensive federal health care management system
claim
a request to an insurance carrier for monetary compensation for a loss sustained by a customer
copayment
a partial charge for covered care negotiated by the provider and the employer and paid by the employee
deductible
the annual portion of health care costs the patient must assume before full insurance coverage applies
entrepreneur
a business leader willing to take on the risk of starting a new company and offering a product or service in the hope of a profit
entrepreneurial culture
the combination of personality and management style with which entrepreneurs shape the initial business practices and ethical environment of their firm
multipayer health care system
a means of providing health care in which the patient and others such as an employer and a private health insurance company all pay for the patient’s care
premiums
the fees customers pay for different forms of coverage
psychological appeal
advertising intended to bolster consumers’ self-esteem if certain products or services are purchased
redlining
a discriminatory (and usually illegal) insurance practice of denying certain coverages in specific neighborhoods or selling them there at a higher price
single-payer health care system
a means of providing health care in which state or national tax revenues would pay for citizens’ medical care, with the government being the sole payer
subliminal advertising
appeals including words and images that reach us at a level below our consciousness
universal health care system
a means of providing health care to all, funded through taxes and overseen by the central or federal government
wellness programs
employer initiatives that stress healthy eating, exercise, weight management, smoking cessation, and other efforts, to sustain employees’ health and reduce health care costs
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