Question 1

The socioeconomic model of social responsibility places primary emphasis on

Accepted Answer

A) quality of life. 
B) production. 
C) economic return. 
D) exploitation of natural resources. 
E) profit. 
A) quality of life. 
B) production. 
C) economic return. 
D) exploitation of natural resources. 
E) profit.

Question 2

A social audit is a

Accepted Answer

A) review of the costs of operating a social program. 
B) report of what a business has done and is doing about social issues. 
C) review of a tax statement by the Internal Revenue Service. 
D) review of management's social activity for the year. 
E) report filed by social sector accountants. 
A) review of the costs of operating a social program. 
B) report of what a business has done and is doing about social issues. 
C) review of a tax statement by the Internal Revenue Service. 
D) review of management's social activity for the year. 
E) report filed by social sector accountants.

Question 3

Supporters of increased social responsibility would most likely say that the goal of a firm is to

Accepted Answer

A) maximize shareholders' wealth. 
B) provide jobs for the community and make a reasonable profit. 
C) maximize profits while obeying the law. 
D) beat the competition and stay in business. 
E) create value and benefits for owners, employees, and society. 
A) maximize shareholders' wealth. 
B) provide jobs for the community and make a reasonable profit. 
C) maximize profits while obeying the law. 
D) beat the competition and stay in business. 
E) create value and benefits for owners, employees, and society.

Question 4

Lisa buys a new pillow and rips off the manufacturer's tag. She then reads the tag and is amused at its warning that, under penalty of law, the tag should not be removed and the pillow could cause suffocation. What consumer right is the manufacturer guarding against?

Accepted Answer

A) The right to consumer education 
B) The right to choose 
C) The right to be informed 
D) The right to be heard 
E) The right to courteous service 
A) The right to consumer education 
B) The right to choose 
C) The right to be informed 
D) The right to be heard 
E) The right to courteous service

Question 5

​Michaela, age 25, has set a personal goal of being vice president of ABX Corp. by the time she is 32. She has determined that nothing will stand in her way of her goal. She hears that the president of ABX Corp. is engaged in a business enterprise with the president of a competitor that is a conflict of interest with his role of president. She reports the business relationship to the press anonymously. Upon hearing the news, the board of directors of ABX Corp. calls a special meeting to investigate the charges. Finding them to be true, they terminate the president and promote the existing vice president to president and Michaela to vice president. What individual factor most affected Michaela's ethical decision?

Accepted Answer

A) ​Personal goals. 
B) ​Personal values. 
C) ​Individual knowledge of an issue. 
D) ​Cultural norms. 
A) ​Personal goals. 
B) ​Personal values. 
C) ​Individual knowledge of an issue. 
D) ​Cultural norms.

Question 6

The right to consumer education entitles people to be fully informed about their rights as consumers.

Accepted Answer

A) True 
 B)False

Question 7

Why did Congress create the Equal Employment Opportunity Commission?

Accepted Answer

Congress created the Equal Employment Op

Question 8

A social responsibility program may be funded by the federal government through tax reductions or other incentives.

Accepted Answer

A) True 
 B)False

Question 9

Historically a discrepancy exists between the pay for women and men of equal qualifications. Which statement most accurately describes this inequality?

Accepted Answer

A) Although the pay discrepancy between men and women used to be quite large, it is nonexistent today. 
B) Despite threats of legal action, women still make significantly less than men of equal background. 
C) So much has been done to correct this discrepancy that women, on average, earn more than men of equal qualifications. 
D) The discrepancy in pay has shifted back and forth the last three decades; that is, sometimes women are paid more and sometimes men are paid more. 
E) Women and men of equal qualifications have, for the past two decades, made approximately the same amount of money from similar occupations. 
A) Although the pay discrepancy between men and women used to be quite large, it is nonexistent today. 
B) Despite threats of legal action, women still make significantly less than men of equal background. 
C) So much has been done to correct this discrepancy that women, on average, earn more than men of equal qualifications. 
D) The discrepancy in pay has shifted back and forth the last three decades; that is, sometimes women are paid more and sometimes men are paid more. 
E) Women and men of equal qualifications have, for the past two decades, made approximately the same amount of money from similar occupations.

Question 10

Long-distance providers are becoming increasingly concerned about certain activities within their industry. Various companies come together voluntarily to implement new standards of social responsibility that members must abide by. What seems to be the primary motivation in this case for an increased interest in social responsibility?

Accepted Answer

A) Because corporations are creations of society, they are responsible for giving back to the communities in which they operate. 
B) These companies have realized it is in their best interest to increase their social responsibility before they are once again subject to stricter regulations. 
C) These companies are using social responsibility as a means to increase their profitability, both short term and long term. 
D) Long-distance providers have started taking pride in their industry and its record for social responsibility. 
E) They feel a responsibility to their stockholders, employees, the government, investors, and society as a whole. 
A) Because corporations are creations of society, they are responsible for giving back to the communities in which they operate. 
B) These companies have realized it is in their best interest to increase their social responsibility before they are once again subject to stricter regulations. 
C) These companies are using social responsibility as a means to increase their profitability, both short term and long term. 
D) Long-distance providers have started taking pride in their industry and its record for social responsibility. 
E) They feel a responsibility to their stockholders, employees, the government, investors, and society as a whole.

Question 11

As far as business is concerned, six of the most important federal laws passed between 1887 and 1914 supported

Accepted Answer

A) foreign trade. 
B) increased production. 
C) more competition. 
D) elimination of unions. 
E) more social responsibility. 
A) foreign trade. 
B) increased production. 
C) more competition. 
D) elimination of unions. 
E) more social responsibility.

Question 12

Ethical behavior is most likely to be compromised when the personal ethics of businesspeople are high.

Accepted Answer

A) True 
 B)False

Question 13

You were hired as a television anchorwoman this year. After a few months your supervisor demoted you because you were said to be too old, unattractive, and not deferential enough to men. You believe this supervisor has violated your right to

Accepted Answer

A) safety and security. 
B) be heard. 
C) be informed. 
D) life. 
E) equal treatment in the workplace. 
A) safety and security. 
B) be heard. 
C) be informed. 
D) life. 
E) equal treatment in the workplace.

Question 14

The manager of a large chain recently spoke to a group of college students about making it in the business world. He focused particularly on the importance of fulfilling the purpose of the business organization: that is, to produce and market profitable products needed by society. In so doing, he indicated that a stockholder, not the society as a whole, invests in a corporation to earn a return on his or her investment and that a firm is legally obligated to act in stockholders' interests. What concept do the manager's comments reveal?

Accepted Answer

A) Socioeconomic model of social responsibility 
B) Economic model of social responsibility 
C) Strictest model of social responsibility 
D) Consumerism 
E) Rights of employees 
A) Socioeconomic model of social responsibility 
B) Economic model of social responsibility 
C) Strictest model of social responsibility 
D) Consumerism 
E) Rights of employees

Question 15

Businesses' record of social responsibility today is much better than in past decades.

Accepted Answer

A) True 
 B)False

Question 16

Define business ethics.

Accepted Answer

Ethics is the study of right a

Question 17

When translated, caveat emptor means "let the buyer beware."

Accepted Answer

A) True 
 B)False

Question 18

The American Apparel Manufacturers Association exerts pressure on its members to comply with the ethical standards of the industry and provides information and benefits for textile companies. This company is an example of a(n)

Accepted Answer

A) regulatory agency. 
B) government agency. 
C) trade association. 
D) industry organization. 
E) membership club. 
A) regulatory agency. 
B) government agency. 
C) trade association. 
D) industry organization. 
E) membership club.

Question 19

Which of the following accurately describes the objective of affirmative action?

Accepted Answer

A) If 30 percent of the local population is Hispanic, then 30 percent of a company's engineers should be Hispanic. 
B) If 55 percent of the local population is female, then 55 percent of all companies' employees should be female throughout all levels of the organizations. 
C) If 20 percent of the engineers in the local area are African American, then a company should have about 20 percent African American employees on its engineering staff. 
D) If 40 percent of the engineers available locally are African American, then a company should have about 1 out of 10 African American engineers. 
E) If 40 percent of the local population is Hispanic, the school systems should have 40 percent Hispanic teachers. 
A) If 30 percent of the local population is Hispanic, then 30 percent of a company's engineers should be Hispanic. 
B) If 55 percent of the local population is female, then 55 percent of all companies' employees should be female throughout all levels of the organizations. 
C) If 20 percent of the engineers in the local area are African American, then a company should have about 20 percent African American employees on its engineering staff. 
D) If 40 percent of the engineers available locally are African American, then a company should have about 1 out of 10 African American engineers. 
E) If 40 percent of the local population is Hispanic, the school systems should have 40 percent Hispanic teachers.

Question 20

What would opponents of the socioeconomic model argue to support their position?

Accepted Answer

Businesses are most functional and succe

The socioeconomic model of social responsibility places primary emphasis on

A social audit is a

Supporters of increased social responsibility would most likely say that the goal of a firm is to

Lisa buys a new pillow and rips off the manufacturer's tag. She then reads the tag and is amused at its warning that, under penalty of law, the tag should not be removed and the pillow could cause suffocation. What consumer right is the manufacturer guarding against?

The right to consumer education entitles people to be fully informed about their rights as consumers.

Why did Congress create the Equal Employment Opportunity Commission?

A social responsibility program may be funded by the federal government through tax reductions or other incentives.

Historically a discrepancy exists between the pay for women and men of equal qualifications. Which statement most accurately describes this inequality?

As far as business is concerned, six of the most important federal laws passed between 1887 and 1914 supported

Ethical behavior is most likely to be compromised when the personal ethics of businesspeople are high.

You were hired as a television anchorwoman this year. After a few months your supervisor demoted you because you were said to be too old, unattractive, and not deferential enough to men. You believe this supervisor has violated your right to

Businesses' record of social responsibility today is much better than in past decades.

Define business ethics.

When translated, caveat emptor means "let the buyer beware."

The American Apparel Manufacturers Association exerts pressure on its members to comply with the ethical standards of the industry and provides information and benefits for textile companies. This company is an example of a(n)

Which of the following accurately describes the objective of affirmative action?

What would opponents of the socioeconomic model argue to support their position?

Exploring the World of Business and Economics

Exploring Global Business

Choosing a Form of Business Ownership

Small Business, Entrepreneurship, and Franchises

Understanding the Management Process

Creating a Flexible Organization

Producing Quality Goods and Services

Attracting and Retaining the Best Employees

Motivating and Satisfying Employees and Teams

Building Customer Relationships Through Effective Marketing

Creating and Pricing Products That Satisfy Customers

Distributing and Promoting Products

Understanding Social Media and E-Business

Using Management Information Systems and Accounting Information

Mastering Financial Management

Filters

Exam 2: Being Ethical and Socially Responsible

The socioeconomic model of social responsibility places primary emphasis on

A social audit is a

Supporters of increased social responsibility would most likely say that the goal of a firm is to

Lisa buys a new pillow and rips off the manufacturer's tag. She then reads the tag and is amused at its warning that, under penalty of law, the tag should not be removed and the pillow could cause suffocation. What consumer right is the manufacturer guarding against?

The right to consumer education entitles people to be fully informed about their rights as consumers.

Why did Congress create the Equal Employment Opportunity Commission?

A social responsibility program may be funded by the federal government through tax reductions or other incentives.

Historically a discrepancy exists between the pay for women and men of equal qualifications. Which statement most accurately describes this inequality?

As far as business is concerned, six of the most important federal laws passed between 1887 and 1914 supported

Ethical behavior is most likely to be compromised when the personal ethics of businesspeople are high.

You were hired as a television anchorwoman this year. After a few months your supervisor demoted you because you were said to be too old, unattractive, and not deferential enough to men. You believe this supervisor has violated your right to

Businesses' record of social responsibility today is much better than in past decades.

Define business ethics.

When translated, caveat emptor means "let the buyer beware."

The American Apparel Manufacturers Association exerts pressure on its members to comply with the ethical standards of the industry and provides information and benefits for textile companies. This company is an example of a(n)

Which of the following accurately describes the objective of affirmative action?

What would opponents of the socioeconomic model argue to support their position?

Exploring the World of Business and Economics

Exploring Global Business

Choosing a Form of Business Ownership

Small Business, Entrepreneurship, and Franchises

Understanding the Management Process

Creating a Flexible Organization

Producing Quality Goods and Services

Attracting and Retaining the Best Employees

Motivating and Satisfying Employees and Teams

Building Customer Relationships Through Effective Marketing

Creating and Pricing Products That Satisfy Customers

Distributing and Promoting Products

Understanding Social Media and E-Business

Using Management Information Systems and Accounting Information

Mastering Financial Management

Filters