Question 1

The legal environment of business is the place where business interacts with the legal system.

Accepted Answer

A) True 
 B)False

Question 2

Laws ensuring such rights as freedom of speech and religion are meant to _____.

Accepted Answer

A) maximize individual freedom 
B) provide a basis for compromise 
C) shape moral standards 
D) promote social justice 
A) maximize individual freedom 
B) provide a basis for compromise 
C) shape moral standards 
D) promote social justice

Question 3

In curbing smoking, businesses are not motivated strictly by civic responsibility.Workplace smoking increases employer costs in all of the following ways except:

Accepted Answer

A) smokers are absent from work 50 percent more often than nonsmokers. 
B) smokers have twice as many accidents. 
C) turnover by smokers is 20% higher than for nonsmokers. 
D) smoke-free firms often pay 25 percent to 35 percent less for health and fire insurance. 
A) smokers are absent from work 50 percent more often than nonsmokers. 
B) smokers have twice as many accidents. 
C) turnover by smokers is 20% higher than for nonsmokers. 
D) smoke-free firms often pay 25 percent to 35 percent less for health and fire insurance.

Question 4

In law, a product is defective if, despite any warnings, the risk of harm outweighs its usefulness in doing what it's designed to do.This is called negligence per se.

Accepted Answer

A) True 
 B)False

Question 5

Give an example of a contract that is unenforceable because it lacks legality.

Accepted Answer

Student answers may vary.A con

Question 6

Liability in civil cases must be established by proof beyond a reasonable doubt.

Accepted Answer

A) True 
 B)False

Question 7

Agency law is actually a mixture of contract law and tort law.

Accepted Answer

A) True 
 B)False

Question 8

Jonathan Swift likened _____ to "cobwebs" because they seem to stretch in every direction to catch innocent flies while failing utterly to stop wasps and other creatures responsible for much greater crimes against human comfort.

Accepted Answer

A) businesses 
B) laws 
C) lawmakers 
D) bureaucracy 
A) businesses 
B) laws 
C) lawmakers 
D) bureaucracy

Question 9

In order to sue a manufacturer for negligence, you must prove all of the following elements of negligence EXCEPT:

Accepted Answer

A) the manufacturer owed you a duty of care. 
B) the manufacturer's breach of duty of care caused injury to you or your property. 
C) the manufacturer's action did in fact cause the injury in question. 
D) that you followed the manufacturer's directions in using the product. 
A) the manufacturer owed you a duty of care. 
B) the manufacturer's breach of duty of care caused injury to you or your property. 
C) the manufacturer's action did in fact cause the injury in question. 
D) that you followed the manufacturer's directions in using the product.

Question 10

Statutory laws are laws enacted by administrative agencies.

Accepted Answer

A) True 
 B)False

The legal environment of business is the place where business interacts with the legal system.

Laws ensuring such rights as freedom of speech and religion are meant to _____.

In curbing smoking, businesses are not motivated strictly by civic responsibility.Workplace smoking increases employer costs in all of the following ways except:

In law, a product is defective if, despite any warnings, the risk of harm outweighs its usefulness in doing what it's designed to do.This is called negligence per se.

Give an example of a contract that is unenforceable because it lacks legality.

Liability in civil cases must be established by proof beyond a reasonable doubt.

Agency law is actually a mixture of contract law and tort law.

Jonathan Swift likened _____ to "cobwebs" because they seem to stretch in every direction to catch innocent flies while failing utterly to stop wasps and other creatures responsible for much greater crimes against human comfort.

In order to sue a manufacturer for negligence, you must prove all of the following elements of negligence EXCEPT:

Statutory laws are laws enacted by administrative agencies.

The Foundations of Business

Entrepreneurship

Selecting a Form of Business Ownership

Business Ethics and Social Responsibility

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Product Design and Development

Operations Management in Manufacturing and Service Industries

Business in a Global Environment

Marketing: Providing Value to Customers

Operating in a Digital Marketing and Social Networking

The Role of Accounting in Business

Managing Financial Resources

Teamwork and Communications

Personal Finances

Managing Information and Technology

Filters

Exam 17: The Legal and Regulatory Environment of Business

The legal environment of business is the place where business interacts with the legal system.

Laws ensuring such rights as freedom of speech and religion are meant to _____.

In curbing smoking, businesses are not motivated strictly by civic responsibility.Workplace smoking increases employer costs in all of the following ways except:

In law, a product is defective if, despite any warnings, the risk of harm outweighs its usefulness in doing what it's designed to do.This is called negligence per se.

Give an example of a contract that is unenforceable because it lacks legality.

Liability in civil cases must be established by proof beyond a reasonable doubt.

Agency law is actually a mixture of contract law and tort law.

Jonathan Swift likened _____ to "cobwebs" because they seem to stretch in every direction to catch innocent flies while failing utterly to stop wasps and other creatures responsible for much greater crimes against human comfort.

In order to sue a manufacturer for negligence, you must prove all of the following elements of negligence EXCEPT:

Statutory laws are laws enacted by administrative agencies.

The Foundations of Business

Entrepreneurship

Selecting a Form of Business Ownership

Business Ethics and Social Responsibility

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Product Design and Development

Operations Management in Manufacturing and Service Industries

Business in a Global Environment

Marketing: Providing Value to Customers

Operating in a Digital Marketing and Social Networking

The Role of Accounting in Business

Managing Financial Resources

Teamwork and Communications

Personal Finances

Managing Information and Technology

Filters