Penn was the founder and owner of the colony of Pennsylvania.

Patents encourage and reward invention.

The Parliamentary Charter of 1763 was issued at the conclusion of the Seven Years’ War between France and Britain.

Paper is a necessary component for a wide range of industries, including the publishing, card, stationery, printing, postal, shipping, disposable cup and dishware, packaging, office supply, and school supply industries.

The Panic of 1907 led to the creation of the Federal Reserve system.

The Panic of 1893 marked a major shift in investment techniques, as investors began to place more money in stocks than in bonds.

The Panic of 1873 represented the first great crisis of industrial capitalism in the United States, and it altered the nature of economic enterprise, political ideology, and labor rights.

The Panic of 1857 was linked to the absence of a central banking system in the United States.

The Panic of 1837 undermined the state banking system established during President Andrew Jackson’s administration.

The Panic of 1819 revealed the consequences of the lack of a national currency system controlled effectively by a federal bank.

The canal allowed the United States to transport goods in ships fromthe East Coast to Asia easily and efficiently, opening up new markets and creating profit for manufacturers, shippers, and the canal operators.

The air traffic controllers’ strike of 1981 violated federal law and the terms of the controllers’ contract.

Personal selling—direct interaction between a seller and a buyer—is a critical component in marketing communications. Salespeople help to generate a company’s revenue by providing information to consumers and feedback to manufacturers.

The pyramid of corporate responsibility model suggests CORPORATE SOCIAL RESPONSIBILITY is composed of four components: economic, legal, ethical, and philanthropic. The model uses economic responsibility as its foundation, arguing a company must be profitable in order to survive and contribute to the other levels in the pyramid.

Push and pull strategies are ADVERTISING and other promotional efforts that assist in getting PRODUCTs through DISTRIBUTION CHANNELs. Push strategies are designed to support and reward participants in the distribution channel, usually WHOLESALERs and retailers. Pull strategies are direct communications with final users of a product or service.

Purchasing refers to the responsibility to procure supplies, materials, products, and services for use in business.

Public utilities are firms or industries regulated by government agencies (usually public-utility commissions).

Public service announcements (PSAs) are noncommercial announcements created to provide information to the public. A PSA contains information designed to inform and benefit the intended audience, rather than the organization or CORPORATION that created it.

The term public relations (PR) refers to an organization’s attempts to improve its image and its relationship with customers, employees, stockholders, community members, news media, and government.

Public administration, the management of public programs, is about getting things done or about making and carrying out public policies.

COMMON STOCK carries voting rights, one vote per common share. SHARE HOLDERS can exercise these voting rights by attending the annual meeting of stockholders.

A prospectus is a document that either describes an offer to sell securities to potential investors or describes the history, goals, and financial performance of a mutual fund. When a company conducts an INITIAL PUBLIC OFFERING (IPO), it must provide a detailed statement of the proposed use of funds, and facts about the company soliciting funds, as per SECURITIES AND EXCHANGE COMMISSION (SEC) guidelines.

A proprietorship is an unincorporated business owned by one person. In the United States, approximately threefourths of all businesses are proprietorships. The major advantage of a proprietorship is control—the owner makes all decisions and does not have to answer to partners or a BOARD OF DIRECTORS.

Proprietary information is information regarding a company’s strategy, customers, or PRODUCTs that, if divulged to competitors, would harm the company. Businesses go to great lengths to protect their competitive advantage.