Business Ethics chapter 3&4
Primary social goods include...
status
Though many jobs are outsourced, most economists believe...
the economy will create new jobs in the USA
Adam Smith proposed that in our pursuit of economic interests we are led by...
| An invisible hand to promote general good
Melvin Anshen suggests that there is a relationship between business and society which he termed as...
"Social contract."
For the first time since the Industrial Revolution, less than ____ percent of the American workforce was employed by manufacturing.
10
Milton Friedman argues that...
A business's only social responsibility is to maximize profits within the rules of the game
Which of the following is an accurate statement?
A 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
According to one survey of cultural values...
Americans typically value things like their children's education and a satisfactory love life more than work
Some critics of capitalism believe that it rests on a flawed view of human beings because...
Capitalism assumes that well-being comes from greater material consumption
Which statement best describes capitalism?
Capitalism is an economic system that operates under the profit motive
Marxism states..
Capitalism leads to a concentration of property and thus a concentration of resources and power in relatively few hands
A basic tenet of capitalism is that...
Capitalism requires private ownership of the major means of production
Karl Marx believed that...
Capitalist workers suffer from alientation
Momentum for the corporate organization of business really gained momentum after which war?
Civil War
One of the key features of capitalism is...
Competition
The best statement concerning corporations is...
Corporate culture can be both explicit and implicit
Milton Snoeyenbos argues that...
Corporate moral codes can make it more reasonable to expect employees to behave ethically
The debate over corporate moral agency hinges on which issue?
Corporate punishment
The statement that accurately describes corporations is...
Corporate shareholders have limited liability for their debts
Which of the following do advocates of the broader view of corporate social responsibility believe?
Corporations have moral obligations to consumers, to employees, to suppliers and contractors, to the surrounding community, and to society at large Some argue for the narrow view of corporate social responsibility on the ground that managers have a fiduciary responsibility to maximize the profits of their shareholders.
In [Citizens United v. Federal Elections Commission], the U.S. Supreme Court...
Defended the first Amendment right of corporations to spend money to support political candidates they favor
One of the three important "limits to what the law can do" discussed by Christopher Stone is...
Designing effective regulations is difficult
Many economists are concerned that the growing trade deficit makes the U.S. vulnerable to...
Economic extortion
Most Americans believe a corporation's top obligation is to its...
Employees
Talk of justice and injustice appeals to the related notions of...
Fairness, equality, desert
The first principle of Nozick's entitlement theory concerns the original acquisition of...
Goods, money, and property
An exclusive focus on short-term performance...
Had helped to create a high-pressure environment conducive to fraud
The veil of ignorance assures us that people in the original position will be...
Impartial
Which statement accurately describes capitalism?
In state welfare capitalism the government plays an active role in regulating economic activities in an effort to smooth out the boom-and-bust pattern of the business cycle
The difference principle of Rawls states...
Inequalities are only justified if they benefit the least advantaged
Rawls rejects utilitarianism because...
It might permit an unfair distribution of burdens and benefits
What philosopher believes the maximin rule is relevant to justice?
John Rawls
Which of the following accurately reflects the concept of Marxism?
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
Which of the following is one of the three arguments in favor of narrow corporate social responsibility discussed in Chapter 5?
Let-government-do-it
In "Anarchy, State and Utopia", Robert Nozick advocates...
Libertarianism
In Nozick's example of Wilt Chamberlain, he argues that other theories of economic justice inevitably fail to respect people's...
Liberty
Milton Friedman's perspective is that the only social responsibility of a business is to...
Make money for its owners
An assessment of work in America is...
Many manufacturing companies have become "hollow" or "weightless"
Rather than strong work ethic, a common attitude is:
Me-first
For employees who are paid handsomely for their efforts, Marx said their work would ultimately prove to be...
Meaningless to them
Which of the following historical stages of capitalism came first?
Mercantile
The Fugger dynasty was an example of...
Mercantile capitalism
The profit motive...
Must be checked by competition if society is to benefit
From John Stuart Mill's viewpoint...
Not every issue of social utility was a matter of justice
How many Americans believe that "if you work hard enough, you'll make it?"
One out of three
According to John Rawls...
People in the original position choose the principles on the basis of self-interest
A common point of contention about corporations is...
Philosophers and business theorists disagree whether corporations are moral agents
To the libertarians, their concept of liberty includes a commitment to...
Private property
In association with labor and capital, Mill had contrasting views of...
Profit sharing
As discussed in Chapter 5, one problem with this argument is that...
Promises don't override all our other obligations
The "rules of the game" for corporate work are intended to...
Promote open and free competition
Eminent domain is the ancient right of government to take what from an individual?
Property
According to Locke...
Property is a moral right
The concept of the "invisible hand" means...
Pursuit of private gain will bring the best overall results
In the corporate world, the board of directors will typically...
Rubber stamp the politics and recommendations of the management
John Rawls' Theory of Justice lays within which type of tradition?
Social contract
Those with a broader view concerning business obligations believe that with power comes...
Social responsibility
The Supreme Court gave decision making power for Eminent domain to the...
States and local communities
Mill justified utilitarianism from rival perspectives when he argued...
That without utilitarianism to provide a determinate standard of justice, one is always left with a plethora of competing principles of justice, all of which seem to have plausibility but are mutually incompatible
Evidence for the idea that American manufacturing is declining is...
The fact that government now employs more people than manufacturing
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
Aristotle's formal principle of justice states...
There are no rights
Kenneth Arrow discussed two important situations in which profit maximization can be socially inefficient. One of these occurs when...
There is an imbalance of knowledge between buyer and seller
Corporations differ from partnerships and other forms of business association in two ways. One of these is that...
They must be publicly registered or in some way officially acknowledged by the law
The veil of ignorance proposes that...
Those in the original position are supposed to choose principles on the basis of self-interest, agreement seems unlikely
Externalities are...
Unintended side-effects
Who is more likely to be sympathetic with the idea of reducing the disparities of income in society?
Utilitarians
One reason for believing that in practice capitalism fails to live up to its own ideal of competition is...
We have government subsidies and protective tariffs
A basic premise of Adam Smith's invisible hand argument is...
We often get what we want from others by offering something they need from us
If libertarianism is true, which of these statements is true?
We should have a "night-watchman" state
The first corporations...
Were towns, universities, and ecclesiastic orders
The idea that corporations are moral agents...
is accepted by many people and companies without hesitation
According to libertarianism...
it would be unjust to coerce people to give food or money to the starving
According to Mill's utilitarianism...
rights are certain moral rules whose observance is of the utmost importance for the long-run, overall maximization of happiness.
According to John Rawls, people in "the original position" choose the principles of justice on the basis of...
self intrest
