BUS 100: Final Exam Review

A person's entitlement to protection from invasion of one's personal life is called the A) Right of free speech. B) Declaration of independence. C) Right to privacy. D) Principle of freedom.

C) Right to privacy.

Some studies have shown that the burden of complying with safety regulations falls hardest on A) The government. B) Large businesses. C) Small businesses. D) The manufacturing sector only.

C) Small businesses.

An individual who is a supporter of globalization would argue that it helps the developing world by A) Giving entrepreneurs access to foreign investment funds to support economic development. B) Allowing new ideas and technological innovations to spread quickly. C) Providing people in developing countries with more jobs. D) All of these answers are correct.

D) All of these answers are correct.

Business depends on the community for A) Education. B) Public services. C) Transportation systems. D) All of these answers are correct.

D) All of these answers are correct.

Age, ethnicity, gender, mental or physical abilities, race, and sexual orientation fall under which dimension of diversity? A) Primary. B) Secondary. C) Tertiary. D) Legal.

A) Primary.

The primary goal(s) of the Food and Drug Administration include A) Ensuring the safety and effectiveness of a wide range of consumer products. B) Prohibiting unfair or deceptive advertising. C) Reviewing and approving new products before they are released to consumers. D) Both A and C are correct

D) Both A and C are correct

Consumers have become more dependent on businesses for product quality because A) The complexity of products makes choices complicated for consumers. B) Instructions for use or care of product are provided in clear and simple language. C) Their technical competence allows them to inspect the products thoroughly. D) Competition has forced manufacturers to market lower-quality goods.

A) The complexity of products makes choices complicated for consumers.

Sustainable development A) Meets the needs of the present while compromising the ability of future generations to meet their own needs. B) Gives precedence to environmental over economic considerations. C) Balances economic and environmental considerations. D) Gives precedence to present needs over future needs.

C) Balances economic and environmental considerations.

This U.S. agency enforces the laws prohibiting deceptive advertising A) Congress. B) Consumer Product Safety Commission. C) Federal Trade Commission. D) Department of Justice.

C) Federal Trade Commission.

A visual representation of the many links between a lead firm and its suppliers, superimposed on a geographical map is called a A) Linked list. B) Supply chain map. C) Supply web. D) Network map.

B) Supply chain map.

Representation on the World Bank's board of directors is based on A) The size of the member nation's population. B) The size of the member nation's economy. C) The size of the member nation's land mass. D) Equal representation of all member nations.

B) The size of the member nation's economy.

Another term for corporate giving is corporate A) Welfare. B) Goodwill. C) Philanthropy. D) Citizenship.

C) Philanthropy.

A critic of globalization might argue that companies decide to manufacture in China mainly because of China's A) Strict law enforcement. B) High environmental standards. C) Weak health and safety regulations. D) Strong worker unions.

C) Weak health and safety regulations.

Communities depend on business for A) Schools. B) Health care. C) The arts. D) All of the above

D) All of the above

In the United States, the federal government regulates which of the following major areas of environmental protection? A) Air pollution. B) Water pollution. C) Solid and hazardous waste. D) All of these answers are correct.

D) All of these answers are correct.

Intellectual property refers to A) Protecting one's ideas, concepts, and symbolic creations. B) Special laws protecting copyrights, patents, and trademarks. C) Prohibiting the downloading of commercial software or videogames. D) All of these answers are correct.

D) All of these answers are correct.

Women in the U.S. workforce are accurately characterized by which of these statements? A) The participation rate has been between 46 and 47 percent since the late 2000s. B) A lack of family-friendly business policies has made it difficult for working mothers. C) The participation rates of women and men in the workforce have diverged. D) Both of these answers are correct: The participation rate has been between 46 and 47 percent since the late 2000s; and a lack of family-friendly business policies has made it difficult for working mothers.

D) Both of these answers are correct: The participation rate has been between 46 and 47 percent since the late 2000s; and a lack of family-friendly business policies has made it difficult for working mothers.

Rules in the United States that prohibit competitors from secretly dividing up the market amongst themselves are called A) Antitrust laws. B) Deceptive advertising. C) Federal Trade Protection Doctrine. D) The Right to Privacy.

A) Antitrust laws.

Since the mid-1950s the proportion of American workers represented by unions has A) Decreased. B) Increased. C) Remained about the same. D) Grown only in the manufacturing sector.

A) Decreased.

The place where information is stored, ideas are described, and communication takes place in and through an electronic network of linked systems is called A) The personal computer. B) Cyberspace. C) Cloud computing. D) Communication

B) Cyberspace.

Buying and selling goods and services electronically is called A) M-commerce. B) E-business. C) Telecommunications. D) Intellectual property.

B) E-business.

Employees in the United States have a legal right to A) Organize and bargain collectively. B) A safe and healthy workplace. C) A job. D) Both of these answers are correct: Organize and bargain collectively; and a safe and healthy workplace.

D) Both of these answers are correct: Organize and bargain collectively; and a safe and healthy workplace.

Businesses can reduce income inequality by which action? A) Adjust minimum wage laws to increase worker pay. B) Pass a new tax law that benefits workers. C) Provide very high executive compensation. D) Commit to paying a living wage to all employees.

D) Commit to paying a living wage to all employees.

Social capital is a phrase that refers to all of the following, except A) The goodwill that is engendered by the fabric of social relations. B) A close relationship between companies and groups in the community. C) The norms and networks that enable collective action. D) Funds set aside for company events

D) Funds set aside for company events

Which of the following is not a reason for businesses to establish community relations departments? A) Working with local governments. B) Managing donations of goods and services. C) Encouraging employee volunteerism. D) Managing international relations projects for economic development.

D) Managing international relations projects for economic development.

A living wage has been defined as a wage that A) Equals or exceeds the minimum wage established by law. B) Equals or exceeds one-and-a-half times the minimum wage established by law. C) Supports the basic needs of an average-sized family, based on local prices. D) Supports half the basic needs of an average-sized family, based on local prices.

D) Supports half the basic needs of an average-sized family, based on local prices.

The "right to be heard" promises that consumers' interests will A) Be protected against fraudulent or misleading information. B) Receive full and sympathetic consideration. C) Be assured satisfactory quality and service at a fair price. D) Be given all the facts to make an informed choice.

B) Receive full and sympathetic consideration.

A firm that has global operations has A) All of their manufacturing and service operations abroad. B) Some or all of their manufacturing or service operations abroad. C) Manufacturing but not service operations abroad. D) Service but not manufacturing operations abroad.

B) Some or all of their manufacturing or service operations abroad.

What is one reason that firms partner with communities to increase economic development? A) To expand environmental sustainability. B) To develop workplace skills. C) To control the rate of entrepreneurship. D) To avoid paying higher taxes.

B) To develop workplace skills.

Warning consumers about the possible side effects of pharmaceutical drugs is an example of consumer protection against A) Predatory pricing. B) Incomplete information disclosure. C) Hazardous products. D) Violations of individual privacy.

C) Hazardous products.

Many rapid changes in technology over the past few decades were facilitated by A) Artificial intelligence. B) Wireless networks. C) Processing of enormous amounts of data. D) All of these answers are correct.

D) All of these answers are correct.

According to a 2016 survey of senior supply chain managers, what is the leading reason to invest in supplier social responsibility? A) To reduce costs. B) To satisfy government regulations. C) To create a positive image and enhance brand equity. D) To avoid disruptions of product supply.

C) To create a positive image and enhance brand equity.

One argument in favor of net neutrality is A) Businesses that pay more should have faster Internet. B) Broadband providers should have free reign to block any site they object to. C) To fairly compete, small, medium, and large firms should have the same Internet bandwidth. D) Individuals don't need fast Internet, only businesses do.

C) To fairly compete, small, medium, and large firms should have the same Internet bandwidth.

Social impacts of global supply chains include A) Wages. B) Working conditions. C) Employee health. D) All of these answers are correct.

D) All of these answers are correct.

The growing diversity in the U.S. workforce is due to A) Millennials entering the workforce. B) Immigration from other countries. C) Shifting patterns of work and retirement. D) All of these answers are correct.

D) All of these answers are correct.

Why should businesses get involved in the community? A) To win local support for business activity. B) To build social capital. C) To meet stakeholder demands. D) All of these answers are correct.

D) All of these answers are correct.

A technological application that uses biological systems or living organisms to make or modify products or processes for specific use is called A) Biosphere outcome. B) Metatechnology. C) Biology. D) Biotechnology.

D) Biotechnology.

One type of digital currency that operates outside the banking system using encrypted technology is A) Mastercard. B) Blockchain. C) Cryptocoin. D) Bitcoin.

D) Bitcoin.

Which of the following describes why the consumer movement exists? A) Services have become less specialized. B) Some product advertising claims have been inflated. C) Some businesses have violated the public's privacy. D) Both B and C are correct

D) Both B and C are correct

A shared resource, such as land, air, or water, that a group of people uses collectively is a(n) A) Economic village. B) Collective resource. C) Global unification. D) Commons

D) Commons

Which type of business community consists of people who work near the company? A) Site community. B) Virtual community. C) Community of interest. D) Employee community.

D) Employee community.

One argument in favor of affirmative action is A) People hired through this program tend to be more dedicated workers. B) Only the most qualified people are hired through this process. C) It's easy to monitor the success of affirmative action programs. D) It levels the playing field to correct past discriminatory hiring practices.

D) It levels the playing field to correct past discriminatory hiring practices.

The amount of land and water a human population needs to produce the resources it consumes and to absorb its wastes given prevailing technology is called A) Ecological footprint. B) Technological innovation. C) Sustainable development. D) Consumption footprint.

A) Ecological footprint

How can a lead firm improve a supplier's performance when the cost to replace the supplier is high? A) Engage the supplier in capability-building. B) Fire the supplier. C) Report the supplier to the Better Business Bureau. D) Build the supplier's products internally.

A) Engage the supplier in capability-building.

The digital divide describes the gap between those A) Individuals who have technology and those who do not. B) Businesses who use e-business and those who do not. C) Hospitals who use online information and those who do not. D) Individuals who have broadband technology and those who do not.

A) Individuals who have technology and those who do not.

The relationship between business and the community is accurately described by A) It is one of mutual interdependence. B) Business has more responsibility toward community than the community does toward business. C) Communities possess more social power than businesses do. D) All of these answers are correct.

A) It is one of mutual interdependence.

The term civic engagement describes A) The active involvement of businesses and individuals in improving communities. B) A competitive, free market environment. C) Strong governmental regulation to control businesses at the municipal level. D) A close and collaborative business-government relationship

A) The active involvement of businesses and individuals in improving communities.

Possible costs of environmental regulation include all of the following except A) Unemployment. B) Reduced capital investment. C) Corporate restructuring. D) Lowered productivity.

C) Corporate restructuring.

The Occupational Safety and Health Act gives workers the right to a job A) With equal wages for similar kinds of work. B) With wages that enable an employee to enjoy a decent standard of living. C) That is free from recognized hazards that are likely to cause death or serious injury. D) That does not require them to lift, bend, or move items at any time on the job.

C) That is free from recognized hazards that are likely to cause death or serious injury.

Which of the following is (are) core rights of consumers? A) The right to be represented. B) The right to purchase. C) The right to safety. D) All of these answers are correct.

C) The right to safety.

When businesses form voluntary, collaborative partnerships with environmental organizations and regulators to achieve specific objectives this is called A) Inter-organizational alliances. B) Environmental partnerships. C) Cross-functional teams. D) Command and control.

B) Environmental partnerships.

Which of the following is not a goal of consumer protection laws? A) Encourage competitive pricing. B) Facilitate consumers' getting extended credit when making purchases. C) Provide consumers with better information when making purchases. D) Protect consumers against possible hazards from products purchased.

B) Facilitate consumers' getting extended credit when making purchases.

A firm in the pollution prevention stage of the corporate environmental responsibility model is best described by which statement? A) Using innovation to create new sustainable technology. B) Focusing on all environmental impacts of the product life cycle. C) Minimizing or eliminating waste before it is created.

C) Minimizing or eliminating waste before it is created.

A firm that would like to develop a global supply chain would A) Manufacture components or supplies in other countries. B) Sell raw materials, components, or supplies produced at home abroad. C) Purchase raw materials, components, or supplies from sellers in other countries. D) Check products that were manufactured abroad for defects in their home country.

C) Purchase raw materials, components, or supplies from sellers in other countries.

The purpose of the right to be forgotten is to A) Increase protection of privacy and personal information. B) Protect property rights. C) Protect intellectual property. D) Prevent software privacy.

A) Increase protection of privacy and personal information.

The primary purpose of the International Monetary Fund is to A) Lend foreign currency to member countries. B) Exchange one currency for another. C) Consolidate the debt facing Third World nations. D) Collect the interest on loans made by the World Bank to Third World nations.

A) Lend foreign currency to member countries.

Which of the following statements is not true about the population? A) Over the next century, population growth is expected to be greatest in developed nations. B) For many thousands of years, population growth was gradual. C) Industrial production would have to quintuple over the next 40 years in order to maintain the same living standard that people have now, given expected population growth. D) Just 10,000 years ago, the Earth was home to no more than 10 million humans, scattered in small settlements.

A) Over the next century, population growth is expected to be greatest in developed nations.

Environmental justice is a movement to A) Prevent inequitable exposure to risk, such as from hazardous waste. B) Identify polluters and require them to pay for the cleanup of their toxic waste. C) Reduce pollution at the source, rather than treat and dispose of waste at the "end of the pipe." D) Specifically restrict the use of dangerous pesticides which can pollute groundwater.

A) Prevent inequitable exposure to risk, such as from hazardous waste.

Natural capital refers to the world's A) Supply of geology, soil, air, water, and all living things. B) Combined stock ownership. C) Combined capital investments. D) Supply of sustainable developers.

A) Supply of geology, soil, air, water, and all living things.

A prime social responsibility of business is to safeguard consumers A) While continuing to supply them with goods and services they want. B) While maintaining high profit margins. C) By supplying consumers with products at the lowest possible cost. D) By providing new technology.

A) While continuing to supply them with goods and services they want.