Business Ethics MAC
Karl Marx believed that
under capitalism workers are alienated in several ways
Externalities are
unintended side-effects
The first corporations
were towns, universities, and ecclesiastic orders
Which statement best describes capitalism?
Capitalism is an economic system that operates under the profit motive
Which of the following historical stages of capitalism came first?
Mercantile
Which of the following contributed to the more relaxed incorporation procedures of modern times?
The idea that incorporation is a by-product of the people's right to associate, not a gift from the state
More Americans are putting aside job success to...
be with their families
Marxism states
capitalism leads to a concentration of property and thus a concentration of resources and power in relatively few hands
Many economists are concerned that the growing trade deficit makes the U.S. vulnerable to
economic extortion
Capitalism operates on the debatable assumption that human beings find increased well-being through
greater material consumption
The narrow view of corporate social responsibility argues companies must make money within the "rules of the game" which rules out all of the following except for:
harm
An exclusive focus on short-term performance
has helped to create a high-pressure environment conducive to fraud
Milton Friedman's perspective is that the only responsibility of a business is to
make money for its owners
For employees who are paid handsomely for their efforts, Marx said their work would ultimately prove to be
meaningless to them
The "rules of the game" for corporate work are intended to
promote open and free competition
Those with a broader view concerning business obligations believe that with power comes
social responsibility
In Citizens United v. Federal Election Commission, the U.S. Supreme Court ruling included
support for corporations' First Amendment right to participate in the political process
Momentum for the corporate organization of business really gained momentum after which war?
the Civil War
Though many jobs are outsourced, most economists believe
the economy will create new jobs
