Business Ethics Quiz 5

A basic premise of Adam Smith's is a. we can secure what we need from others only by offering them something they need from us. b. human beings try to avoid acquisitive behavior. c. the division of labor, though good for the firm, reduces overall efficiency. d. when people are left to pursue their own economic interests, disaster looms.

A

Marxism states: a. capitalism leads to a concentration of property and thus a concentration of resources and power in relatively few hands. b. socialism will eventually be replaced by financial capitalism. c. the means of production should be placed under the control of the bourgeoisie. d. only workers who are poorly paid in a capitalist system are alienated.

A

Rather than strong work ethic, a more commonly seen role is: Selected Answer: a. Me - first b. I like it easy c. Let the boss sweat it d. Happy days are here to stay

A

Capitalism operates on the debatable assumption that human beings find increased well-being through Answers: a. production of equality. b. greater material consumption. c. eliminating poverty. d. a higher sense of purpose.

B

For the first time since the Industrial Revolution, less than _____ percent of the American workforce was employed by manufacturing. Answers: a. 50 b. 10 c. 25 d. 62

B

In contrast to traditional manufacturers, many companies have become hollow corporations who Answers: a. make nearly all crucial parts. b. outsource and likely produce only the package and the label . c. prefer their own production base and not a network of small operators both foreign and domestic. d. increase their manufacturing operations in the U.S.

B

Which of the following is an accurate statement? a. Adam Smith defends capitalism by appealing to the idea of a natural, moral right to property. b. common defense of capitalism is the argument that people have a fundamental moral right to property and that our capitalist system is simply the outcome of this natural right. c. Adam Smith denies that human beings are, by nature, acquisitive creatures. d. Utilitarians oppose capitalism in principle.

B

One of the four key features of capitalism is . Answers: a. favoritism. b. inequality. c. cooperation. d. private property.

D

The profit motive Answers: a. is basically immoral. b. is a fundamental feature of all societies. c. is no longer a key feature of capitalism. d. must be checked by competition if society is to benefit.

D

Though many jobs are outsourced, most economists believe a. the United States is in trouble. b. Mexico is the place to work. c. manufacturing will make a comeback. d. the economy will create new jobs.

D

Professor Gerdes actually came to class sober today Answers: shifting of accent assuming the cause many questions: (plurium interrogation) forestalling disagreement

shifting of accent

Which of the following accurately reflects the concept of Marxism? Answers: a. Labor is alienated in a capitalist economic system (in part) because the labor of a worker stands opposed to the worker as an autonomous power. b. Within a capitalist economic system, the activity of labor is an end in itself and, as a result, has intrinsic value. c. Only workers who are poorly paid for their labor are alienated. d. It is only within a capitalist economic system that workers are not alienated from the products of their labor.

A

According to one survey of cultural values Answers: a. for Americans, only good health is more important than work. b. Americans value work more than Japanese do. c. Americans typically value things like their children's education and a satisfactory love life more than work. d. Americans place no value on work, only on money.

C

Answers: a. fewer "hollow" corporations. b. a shrinking trade deficit. c. the fact that government now employs more people than manufacturing. d. a reluctance to outsource

C

For employees who are paid handsomely for their efforts, Marx said their work would ultimately prove to be Answers: a. tireless. b. profitable to them. c. meaningless to them. d. expensive to them.

C

Karl Marx believed that Selected Answer: Answers: a. industrialization does away with alienation. b. capitalism no longer exploits workers. c. under capitalism workers are alienated in several ways. d. workers are alienated from their products, but not from themselves or other people.

C