exam review

A shared resource, such as land, air, or water, that a group of people uses collectively is a(n):

Commons.

Possible costs of environmental regulation include all of the following except:

Corporate restructuring.

The place where information is stored, ideas are described, and communication takes place in and through an electronic network of linked systems is called:

Cyberspace.

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:

Ecological footprint.

Which type of business community consists of people who work near the company?

Employee community.

How can a lead firm improve a supplier's performance when the cost to replace the supplier is high?

Engage the supplier in capability-building.

Which of the following is not a goal of consumer protection laws?

Facilitate consumers' getting extended credit when making purchases.

This U.S. agency enforces the laws prohibiting deceptive advertising:

Federal Trade Commission.

Social capital is a phrase that refers to all of the following, except:

Funds set aside for company events.

The digital divide describes the gap between those:

Individuals who have technology and those who do not.

The primary purpose of the International Monetary Fund is to:

Lend foreign currency to member countries.

Which of the following is not a reason for businesses to establish community relations departments?

Managing international relations projects for economic development.

A firm in the pollution prevention stage of the corporate environmental responsibility model is best described by which statement?

Minimizing or eliminating waste before it is created.

A firm that would like to develop a global supply chain would:

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

The "right to be heard" promises that consumers' interests will:

Receive full and sympathetic consideration.

A person's entitlement to protection from invasion of one's personal life is called the:

Right to privacy.

A firm that has global operations has:

Some or all of their manufacturing or service operations abroad.

A visual representation of the many links between a lead firm and its suppliers, superimposed on a geographical map is called a:

Supply chain map.

Natural capital refers to the world's:

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

Communities depend on business for:

All of the above.

Sustainable development:

Balances economic and environmental considerations.

When businesses form voluntary, collaborative partnerships with environmental organizations and regulators to achieve specific objectives this is called:

Environmental partnerships.

The purpose of the right to be forgotten is to:

Increase protection of privacy and personal information.

The relationship between business and the community is accurately described by:

It is one of mutual interdependence.

Which of the following statements is not true about the population?

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

Another term for corporate giving is corporate:

Philanthropy.

Environmental justice is a movement to:

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

What is one reason that firms partner with communities to increase economic development?

To develop workplace skills.

An individual who is a supporter of globalization would argue that it helps the developing world by:

All of these answers are correct.

Business depends on the community for:

All of these answers are correct.

Intellectual property refers to:

All of these answers are correct.

Many rapid changes in technology over the past few decades were facilitated by:

All of these answers are correct.

Social impacts of global supply chains include:

All of these answers are correct.

The primary goal(s) of the Food and Drug Administration include:

Both of these answers are correct: Ensuring the safety and effectiveness of a wide range of consumer products; and reviewing and approving new products before they are released to consumers.

Which of the following describes why the consumer movement exists?

Both of these answers are correct: Some product advertising claims have been inflated; and some businesses have violated the public's privacy.

Buying and selling goods and services electronically is called:

E-business.

Warning consumers about the possible side effects of pharmaceutical drugs is an example of consumer protection against:

Hazardous products.

Which of the following is (are) core rights of consumers?

The right to safety

Representation on the World Bank's board of directors is based on:

The size of the member nation's economy.

According to a 2016 survey of senior supply chain managers, what is the leading reason to invest in supplier social responsibility?

To create a positive image and enhance brand equity.

One argument in favor of net neutrality is:

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

A critic of globalization might argue that companies decide to manufacture in China mainly because of China's:

Weak health and safety regulations.

A prime social responsibility of business is to safeguard consumers:

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

The term civic engagement describes:

The active involvement of businesses and individuals in improving communities.

Consumers have become more dependent on businesses for product quality because:

The complexity of products makes choices complicated for consumers.

In the United States, the federal government regulates which of the following major areas of environmental protection?

All of these answers are correct.

Why should businesses get involved in the community?

All of these answers are correct.

Rules in the United States that prohibit competitors from secretly dividing up the market amongst themselves are called:

Antitrust laws.

A technological application that uses biological systems or living organisms to make or modify products or processes for specific use is called

Biotechnology.

One type of digital currency that operates outside the banking system using encrypted technology is:

Bitcoin.