Intro To Business EGGC Online Chapters 1 & 2 Test

Which of the following businesses provide its customers with a good?

A bicycle manufacturer

What is the primary difference between a good and a service?

A good is tangible, and a service is intangible

Which of the following businesses provide its customers with a service?

A law office

Which of the following statements about utilitarianism is true? A. Utilitarianism is concerned with providing for the needs of the minorities. B. Utilitarianism holds that an action that affects the majority adversely is morally wrong. C. Utilitarianism is primarily concerned with the legal aspects of business decisions. D. None of the above statements about utilitarianism is true. E. The concept of utilitarianism supports affirmative action programs.

B. Utilitarianism holds that an action that affects the majority adversely is morally wrong.

Which of the following statements about utilitarianism is true? A. There is no negative costs associated with utilitarianism B. Utilitarianism is a legal concept-not an ethical one C. Using Utilitarianism, a manager can accurately calculate how his or her decision will affect the majority of its stakeholders. D. Utilitarianism is designed to create both winners and losers. E. The application of the utilitarianism concept will only produce winners.

D. Utilitarianism is designed to create both winners and losers.

Which of the following is an example of a business? A. Lawson & Tyler law offices B. Wal-Mart C. Ford Motor Company D. Jack & Jill, a specialty clothing store for young children E. All of the above

E. All of the above

Summer Dean was walking through the mall and found a gym bag lying on the ground. The decision Dean must make as to whether to keep the gym bag and its contents for herself or turn it into the mall's lost and found department involves __________.

Ethics

_________ is the set of moral standards for judging whether something is right or wrong

Ethics

All businesses approach ethics the same way

False

As a factor of production, capital includes money.

False

Ethics training programs typically teach how to disguise unethical behavior and not how to avoid unethical behavior

False

If the company wants employees to take ethical training seriously, the training should not include games

False

Labor, as a factor of production, relates only to the production of manufactured goods, services are not included.

False

Not-for-profit organizations have the same goals as a for-profit organization

False

Some global corporations are large enough to create major changes in the external environment.

False

The major difference between a good and a service is how the producer uses the factors of production to create each.

False

The philosophy of utilitarianism is used to explain why restaurants, theatres, and hotels should make themselves handicapped accessible.

False

To be a useful code of ethics, the code should offer broad policies and procedures rather than detailed rules

False

Another factor influencing business ethics is _______, or what is fair according to prevailing standards of soceity.

Justice

The ___________________ of any country is measured by the output of goods and services people can buy with the money they have

Standard of living

Which of the following countries has a high standard of living?

The United States

Which of the following is NOT an example of a good that would be sold in a department store?

The advice of a wedding planner

Which of the following is the best example of a good?

The birthday candles you purchased to go on your sister's birthday cake

Which of the following is the best example of a service?

The pleasure you derive from seeing a good play

A business is an organization that strives for profit by providing goods and services desired by its customers.

True

Business owners and managers have a great deal of control over the internal environment of business, which covers the day-to-day business decisions.

True

Human rights include an individuals rights include an individual's right to life, to freedom, and to the pursuit of happiness.

True

Many people consider knowledge to be the fifth factor of production.

True

People who combine natural resources, labor, and capital in a profitable venture are called entreprenuers.

True

Social responsibility is a voluntary obligation

True

The distributive process by which the burdens and rewards that society has to offer are shared varies from society to society.

True

The most basic responsibility of all businesses is its economic responsibility

True

factors of production are common to all productive activities, regardless of the economic system

True

Criticism of South Africa's post-apartheid government contends that the new government has not extended liberties to its black majority population, but has instead concentrated on proving to the white minority that a black-run administration can govern a reasonably sophisticated economy and society. The belief that the new South African government is behaving unethically is an expression of the philosophy associated with ___________.

Utilitarianism

Mama's Diner was a small restaurant that was a popular hangout for many Bedford College students, but because of the owner's inability to make the bathroom stalls handicapped for the one wheel-chair student on campus, it was forced to close down. The belief that it was morally wrong to deprive the majority of the people of this experience is an expression of the philosophy associated with _____________.

Utilitarianism

_______________ is a philosophy that focuses on the consequences of an action to determine whether it is right or wrong. This philosophy holds that an action that affects the majority adversely is morally wrong.

Utilitarianism

In the 21st Century, we define justice as:

an equitable distribution of the burdens and rewards that society has to offer.

Ethical decision making begins in the marketing department

false

Utilitarianism

is difficult to implement because it is hard to tell how one decision will impact a large number of people

The standard of living in any country is

measured by the output of goods and services people can buy with the money they have.