Exam 1 (Ch. 2: Ethics Quiz Questions)
The expectation that a community places on the actions of firms inside that community's borders is known as the: a. Social responsibility of business. b. Civil duty. c. Business ethics. d. Common law.
A.
Values are __________. A. the basic unit of business ethics. B. enforceable in court. C. uniform for all businesses. D. clearly defined by law.
A.
Wells Fargo paid $185 million in fines because its employees: A. opened accounts for customers without their permission. B. failed to pay proper taxes on their profits. C. discriminated against low income customers. D. ignored recycling laws.
A.
According to the WH Approach, all but which of the following are business managers urged to consider? A. Whom an action affects. B . The correctness of the action. C. The purpose of an action. D. The morality of an action.
B.
In 2016, the drug company Mylan increased the price of an EpiPen by A. 50%. B. 500%. C. 100%.
B.
Positive abstractions that capture our sense of what is good or desirable are known as __________. A. Laws B. Values C. Correct D. Management E. Decisions
B.
The legality of a business decision is the __________ standard that must be met. A. legitimate B . minimal C. executive D. maximum
B.
In 1993, residents of Ecuador sued Chevron for all but which of the following? A. Environmental damage. B. Economic losses. C. Violating local law. D. Diseases related to toxic contaminants.
C.
Which of the following are sources of value priorities? A. Laws, traditions, and culture. B. laws, family, and culture. C. family, culture, and tradition. D. only family and traditions.
C.
Which of the following is not a core value for American Express? Use Exhibit 2-3 A. Quality. B. Customer Commitment. C. Efficiency. D. Integrity.
C.
Which of the following is not considered to be a business's responsibility? A. Fulfilling the interests of their owners. B. Obeying the standards of conduct consistent with the ethics and expectations of a particular community. C. To only make correct decisions. D. Providing safe working conditions to their employees.
C.
When managers engage in ethical reasoning, they should consider: A. customers and managers. B. owners and investors. C. employees and the community. D. customers, managers, owners, investors, employees, and the community.
D.
Which of the following are business values that influence business ethics? Use Exhibit 2-1 A. Health, freedom, profits and security. B. Freedom, profits, health, and justice. C. Security, efficiency, justice, and health. D. Freedom, security, efficiency, and justice.
D.
Which of the following are considered stakeholders of a firm? A. Customers. B. Employees. C. Future generations. D. Employees, customers, and future generations are all considered stakeholders.
D.
The Golden Rule is the idea that we should interact with other people in a manner that is inconsistent with the way we would like them to interact with us.
FALSE
There is one specific or correct decision for an ethical dilemma.
FALSE
Business ethics refers to standards of business conduct.
TRUE
The public disclosure test is sometimes called the "television test," for it requires us to imagine that our actions are being broadcast on national television.
TRUE
The universalization test asks us to consider what the world would be like were our decision copied by everyone else.
TRUE
According to ethical guidelines, managerial decisions: a. must examine duties, consequences, and virtues. b. affect particular stakeholders and must meet standards of action-oriented behavior. c. are made with a particular purpose. d. have to be made in conjunction with legal guidelines.
b.