Business and Society Ch 7

Antitrust laws protect consumers from: Selling products above cost to drive away rivals. Anti-competitive practices by business. Firm's using market dominance to expand commerce. Conspiring with business partners to increase competition.

Anti-competitive practices by business.

A cooperative government-business relationship on one issue does not guarantee cooperation on another issue. True False

True

Cost-benefit analysis is often used to determine the cost of regulation. True False

True

Economic regulations aim at modifying the normal operations of the free market and the forces of supply and demand. True False

True

European Union regulators accused Uber of engaging in: Unhealthy working conditions. False advertising. Unfair competition. Price-fixing.

Unfair competition.

The United Nations oversees all international agreements concerning regulations between nations. True False

False

Governments hold the power to: Grant or refuse permission for many types of business activity. Grant permission for only specific business activity. None of the above. Refused permission for only government-funded activity.

Grant or refuse permission for many types of business activity.

Public policy tools involve a combination of: Incentives and penalties. Political favors and prison terms. Incentives and political favors. Penalties prison terms.

Incentives and penalties.

The primary way of accomplishing public policies through: Waiting for business to act. Writing your politician. Lobbying Congress. Regulation.

Regulation.

Around the world, government: Sometimes cooperates and sometimes is in conflict with business. Tends to cooperate with business. Tends to be in conflict with business. Tends to be controlled by business.

Sometimes cooperates and sometimes is in conflict with business.

In non-democratic countries, the power of government may derive from a monarchy, military dictatorship, or religious authority True False

True

Sometimes national leaders resist the notion of international regulation, seeking to control matters of commerce themselves within their own countries. True False

True

Regulation can be argued is justified based on: The life cycle of regulation. Tradition. Collective market theory. Utilitarian and justice grounds.

Utilitarian and justice grounds.