Chapter 3 and 5 quick check

the practice of charitable by giving by corporations includes contributing cash, donating equipment and products, and supporting the volunteers efforts of company employees

corporate philanthropy

examples of transformative technologies include all of the following: tractor, digital camera, smart phone

true

social responsibility is a voluntary obligation

true

trade is a source of creative destruction

true

business cycles

upward and downward changes in the level of economic activity

which of the following statements about utilitarianism is true

utilitarianism holds that an action that affects the majority adversely is morally wrong

why is creative destruction a bad thing

People lose jobs when industries go extinct.

business plan is accurately described by

all the above

business close for many reasons, which of the following is not a typical reason for business failure

expenses were lower than the owner expected

all businesses approach ethics in the same way

false

technology can cause creative destruction, but trade cannot

false

unlike large corporation sole proprietorships do not need a business plan

false

One of the keys to ethical business behavior is:

how the company's top management conducts themselves

demand pull inflation

inflation that occurs when the demand for goods and services is greater than supply

a global vision includes all of the following except

negotiating international trade agreements