Bus 300 CH. 1,2,3 Test

Many weight-loss programs advertise that they can help individuals lose a great deal of weight without any changes in the individual's lifestyle. Typically when the person who has lost the weight leaves the program, he or she regains all the lost weight. This yo-yoing is almost as bad for the body as the excess weight. These weight-loss programs are engaged in _____ behavior.

legal but irresponsible

Which of the following is an example of a trend in ethics and social responsibility?

limits placed on employee empowerment

Shell Oil Company used Intertek Caleb Brett, an Australian research laboratory, to provide all analytical services needed to support one of its full scale refinery. With this _____, Shell replaced domestic employees at the site of the refinery with employees from the Australian firm.

outsourcing

_____ are government regulations that give special priority and privileges to domestic manufacturers.

Buy-national regulations

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

Ethics

_____ is the practice of tying philanthropy closely to the corporate mission or goals and targeting donations to regions where a company operates.

Strategic giving

An organization's first responsibility is to provide a job to employees.

True

The most basic responsibility of all businesses is its economic responsibility.

True

real GDP

adjusted for inflation

factors of production

natural resources labor capital entreprenurship knowledge

standard of living

goods and services that we can afford

Besides tariffs, a government can use a number of other tools to restrict trade. Which of the following is NOT a tool aimed at restricting trade?

subsidy

Mines in Colombia produce emeralds and sell them to jewelers in the United States. To Colombia miners, emeralds are an export.

true

GDP

value of final goods/services produced within a nation

All businesses approach ethics the same way.

False

Enlightened firms are realizing that empowerment puts too much stress on employees and are eliminating empowerment programs.

False

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

False

The World Trade Organization (WTO):

has emerged as the world's most powerful institution for reducing trade barriers and opening markets

One of the advantages multinational corporations have over other companies is their ability to sidestep regulatory difficulties.

true

Which of the following statements about ethics training is true?

Ethics training is formal training to develop awareness of inappropriate behavior and to practice appropriate responses.

The only social responsibility that a company has to its investors is an economic responsibility--it must make a profit.

False

The _____ is an agreement that dramatically lowered trade barriers worldwide and created the new World Trade Organization (WTO).

Uruguay Round

In the chocolate market, Green & Black is acting at the _____ responsibilities level of the pyramid of corporate social responsibility when it makes a profit, does so by abiding by the laws, and helps cocoa farmers by agreeing to pay above-market prices for cocoa.

stakeholder

Social responsibility is a voluntary obligation.

true

Some multinational corporations are so large that they resemble small countries.

true

The _____ is the total amount of money that flows in and out of a country.

balance of payments

The _____ is defined as the difference in value of a country's exports and imports over a period of time.

balance of trade

Corporate philanthropy:

can be either a cash or a noncash donation

At the base of the corporate social responsibility pyramid is:

economic responsibilities

A retailer that allowed its employees to handle a customer complaint without having to ask for permission or direction from management would have:

empowered its employees to help customers

Free trade:

permits people to buy and sell where they please

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

Corporate philanthropy

Codes of ethics:

Social responsibility B. Business ethics C. Consumerism D. The marketing concept E. Business morality

Which of the following statements about dumping is true?

The U.S has passed laws to make dumping illegal.

Which of the following is an example of an ethical business activity?

The employee reported to his supervisors that a co-worker had misappropriated company funds.

Organizations can be evaluated on two basic dimensions with regard to social responsibility--legality and responsibility.

True

The _____ for the Music Teacher's National Associations establishes a standard of conduct and recommends a set of responsibilities teachers should have toward students, colleagues and the public. These guidelines assist the professional music teacher in gaining the respect of peers and avoiding conflicts and complaints with students and others. It points out to members what are and what are not considered fair, honest and reasonable practice when dealing with students, colleagues and the public, it provides guidance for such aspects as advertising practices, appropriate relationships, and personal and professional integrity.

code of ethics

The least costly and least risky method for selling a product on the global market is:

exporting

One of the keys to ethical business behavior is:

how the company's top management conducts themselves

Utilitarianism:

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

A code of ethics:

provides employees with the knowledge of what their firm expects in terms of their responsibilities and behavior toward fellow employees, customers, and suppliers

Wal-Mart ran a series of ads in trade journals with the following headline: "We're Looking for Quality Products That Are Guaranteed Not to Last." What Wal-Mart was in fact doing was asking its suppliers to develop more environmentally friendly products and to use material that could be recycled. This concern about the environment is one way that Wal-Mart practices:

social responsibility

According to the principle of absolute advantage, each country should specialize in the products that it can produce most readily and cheaply and trade those products for products that foreign countries can produce most readily and cheaply.

false

A policy of permitting the people of a country to buy and sell where they please, without restrictions, is called:

free trade