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25 terms

Business Final Quiz 1

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In The Emperor's Club, a lesson could easily be learned that "the past is the best predictor of the future" when watching Sedgewick Bell's pattern of unethical behavior.
TRUE
To reduce dollars flowing out of the country, the United States can limit the number of Japanese cars being imported by imposing a(n)
A. Quota
Which of the following is not considered unethical behavior in the workplace?
C. Using your cell phone to make a doctor's appointment during your lunch break
Owners have little responsibility to provide funds for the operation of the business
FALSE
Which of the following statements about business ethics is false?
A. It concerns the impact of a business's activities on society.
Socialism
C. has government ownership of basic industries.
A favorable balance of trade exists when a country
B. exports more than it imports.
A change in administration in a foreign government is an example of a new
A. political factor.
The equilibrium price is represented by the point where a product's supply and demand curves intersect.
TRUE
Which of the following functions involves activities designed to provide goods and services that fulfill needs and desires of consumers?
E. Marketing
Ethics and social responsibility mean the same thing.
FALSE
Which of the following have been cited as incidents of unethical business activity recently?
E. All of the above
If a corporate manager makes a decision that results in personal financial benefit while the company's owners lose financially, this is an ethical issue related to
A. conflicts of interest.
A set of formalized rules and standards that describe what a company expects of its employees is called a(n)
A. code of ethics.
It is likely Sedgewick's turning point to begin taking his work seriously was Mr. Hundert's belief in him; whereas, the turning point back towards disrespect was when Mr. Hundert did not expose Sedgewick's cheating because of his father's position.
TRUE
Differences in spoken language and body language have no impact on international business.
FALSE
If an economist is analyzing the quantity of goods or services that businesses are willing to sell at different prices at specific times, then the focus is on
D. supply.
Under a capitalist system, goods and services provided are determined by all of the following except
E. businesses owned by the government.
To facilitate free trade among members, the European Union is working toward all of the following except
D. the creation of opportunities to trade with countries in South America
Businesses differ from nonprofit organizations in that a business's focus is on
C. profit.
Resources may be
D. human.
The primary problem with a trade deficit is
B. that more cash is leaving the country than is flowing in.
The entrepreneur has been primarily associated with a willingness to
C. take risks.
Consumers vote against firms they view as socially irresponsible by not
D. buying the company's products.
An important lesson from The Emperor's Club could be "You don't have to be an active participant to be unethical", and an example of this in the movie is:
C. Mr. Hundert's turning a blind eye to multiple situations involving Sedgewick Bell's rebellion