Question 1

Discuss the market capitalism model and explain how it differs from the dominance model.

Accepted Answer

The market capitalism model depicts businesses as operating within a market environment,responding primarily to powerful economic forces where it is substantially sheltered from direct impact by social and political forces.The market acts as a buffer between business and non-market forces.The model incorporates important assumptions such as called laissez-faire.Another assumption is that individuals can own private property and freely risk investments.
The dominance model represents primarily the perspective of business critics.In it,business and government dominate the great mass of people.Proponents believe that corporations are insulated from pressures holding them responsible,that regulation by a government in thrall to big business is feeble and that market forces are inadequate to ensure ethical management.

Question 2

Which of the following models suggests that there is an exchange of power among the multiple elements in society and does not attribute constant dominance to any one element?

Accepted Answer

A)  The countervailing forces model 
B)  The stakeholder model 
C)  The market capitalism model 
D)  The dominance model 
A)  The countervailing forces model 
B)  The stakeholder model 
C)  The market capitalism model 
D)  The dominance model A

Question 3

The _____ model is intended to revitalize capitalism with a new conceptualization of how the corporation should work.This theory rejects the shareholder-centered view of the firm.

Accepted Answer

A)  dominance 
B)  market capitalism 
C)  stakeholder 
D)  countervailing forces 
A)  dominance 
B)  market capitalism 
C)  stakeholder 
D)  countervailing forces C

Question 4

An enduring belief about which basic choices in a society are "correct" is called an idea.

Accepted Answer

A) True 
 B)False

Question 5

The entities that have a relationship with a corporation such that they are affected immediately and powerfully by the actions of the corporation are called __.

Accepted Answer

A)  primary stakeholders 
B)  activist groups 
C)  secondary stakeholders 
D)  trade associations 
A)  primary stakeholders 
B)  activist groups 
C)  secondary stakeholders 
D)  trade associations

Question 6

Theories simplify and organize areas of knowledge by describing patterns or regularities in the subject matter.

Accepted Answer

A) True 
 B)False

Question 7

A formal pattern of relations that link people together in order to accomplish a goal is a(n)________.

Accepted Answer

A)  society 
B)  idea 
C)  institution 
D)  ideology 
A)  society 
B)  idea 
C)  institution 
D)  ideology

Question 8

A critique of the _____ model is that creating surplus ethical sensitivity that soars above legal duty is impractical and unnecessary.

Accepted Answer

A)  countervailing forces 
B)  stakeholder 
C)  market capitalism 
D)  dominance 
A)  countervailing forces 
B)  stakeholder 
C)  market capitalism 
D)  dominance

Question 9

The perspective of the market capitalism model leads to the conclusion that:

Accepted Answer

A)  government regulation should be limited. 
B)  it is the responsibility of businesses to correct social problems. 
C)  businesses can get away with inferior quality goods and higher profits. 
D)  the ethical duty of management is to promote the interests of all stakeholders. 
A)  government regulation should be limited. 
B)  it is the responsibility of businesses to correct social problems. 
C)  businesses can get away with inferior quality goods and higher profits. 
D)  the ethical duty of management is to promote the interests of all stakeholders.

Question 10

Governments are secondary stakeholders to corporations.

Accepted Answer

A) True 
 B)False

Question 11

____ refers to actions taken by managers to adapt a company to changes in its market and sociopolitical environments.

Accepted Answer

A)  Organizational development 
B)  Strategic management 
C)  Social activism 
D)  Value migration 
A)  Organizational development 
B)  Strategic management 
C)  Social activism 
D)  Value migration

Question 12

A _____ emerges when people move beyond subsistence production to production for trade,and markets take on a more central role.

Accepted Answer

A)  centrally planned economy 
B)  welfare economy 
C)  market economy 
D)  socialist economy 
A)  centrally planned economy 
B)  welfare economy 
C)  market economy 
D)  socialist economy

Question 13

A profit-making activity that provides products and services that are intended to satisfy human needs is called a(n)_______.

Accepted Answer

A)  business 
B)  NGO 
C)  government 
D)  society 
A)  business 
B)  NGO 
C)  government 
D)  society

Question 14

In addition to unprecedented wealth creation and new material comforts,capitalism also brings in risks of economic shocks.

Accepted Answer

A) True 
 B)False

Question 15

The countervailing forces model is essentially the same as the market capitalism model.

Accepted Answer

A) True 
 B)False

Question 16

A set of values that create a specific view of the world is a(n)_______

Accepted Answer

A)  institution 
B)  ideology 
C)  society 
D)  economy 
A)  institution 
B)  ideology 
C)  society 
D)  economy

Question 17

The primary purpose of a business is to make a profit by providing products that satisfy human needs.

Accepted Answer

A) True 
 B)False

Question 18

The countervailing forces model differs from the dominance model in that it:

Accepted Answer

A)  advocates opening businesses directly to influence nonmarket forces. 
B)  rejects the absolute primacy of business. 
C)  opposes industrial capitalism. 
D)  fears both physical and moral decline in workers. 
A)  advocates opening businesses directly to influence nonmarket forces. 
B)  rejects the absolute primacy of business. 
C)  opposes industrial capitalism. 
D)  fears both physical and moral decline in workers.

Question 19

Which of the following statements about social contracts is true?

Accepted Answer

A)  Businesses are not obligated to fulfill social contracts. 
B)  It codifies the expectations of business from society and other stakeholders. 
C)  It is as clear-cut as the economic forces a business faces. 
D)  It is partly expressed in law,but also resides completely in social values. 
A)  Businesses are not obligated to fulfill social contracts. 
B)  It codifies the expectations of business from society and other stakeholders. 
C)  It is as clear-cut as the economic forces a business faces. 
D)  It is partly expressed in law,but also resides completely in social values.

Question 20

Which of the following models describes business as responding primarily to economic forces in society?

Accepted Answer

A)  The market capitalism model 
B)  The stakeholder model 
C)  The dominance model 
D)  The countervailing forces model 
A)  The market capitalism model 
B)  The stakeholder model 
C)  The dominance model 
D)  The countervailing forces model

Discuss the market capitalism model and explain how it differs from the dominance model.

Which of the following models suggests that there is an exchange of power among the multiple elements in society and does not attribute constant dominance to any one element?

The _____ model is intended to revitalize capitalism with a new conceptualization of how the corporation should work.This theory rejects the shareholder-centered view of the firm.

An enduring belief about which basic choices in a society are "correct" is called an idea.

The entities that have a relationship with a corporation such that they are affected immediately and powerfully by the actions of the corporation are called __.

Theories simplify and organize areas of knowledge by describing patterns or regularities in the subject matter.

A formal pattern of relations that link people together in order to accomplish a goal is a(n)________.

A critique of the _____ model is that creating surplus ethical sensitivity that soars above legal duty is impractical and unnecessary.

The perspective of the market capitalism model leads to the conclusion that:

Governments are secondary stakeholders to corporations.

____ refers to actions taken by managers to adapt a company to changes in its market and sociopolitical environments.

A _____ emerges when people move beyond subsistence production to production for trade,and markets take on a more central role.

A profit-making activity that provides products and services that are intended to satisfy human needs is called a(n)_______.

In addition to unprecedented wealth creation and new material comforts,capitalism also brings in risks of economic shocks.

The countervailing forces model is essentially the same as the market capitalism model.

A set of values that create a specific view of the world is a(n)_______

The primary purpose of a business is to make a profit by providing products that satisfy human needs.

The countervailing forces model differs from the dominance model in that it:

Which of the following statements about social contracts is true?

Which of the following models describes business as responding primarily to economic forces in society?

The Dynamic Environment

Business Power

Critics of Business

Corporate Social Responsibility

Implementing Corporate Social Responsibility

Business Ethics

Making Ethical Decisions in Business

Business in Politics

Regulating Business

Multinational Corporations

Globalization, Trade, and Corruption

Industrial Pollution and Environmental Regulation

Managing Environmental Quality

Consumerism

The Changing Workplace

Civil Rights, Women, and Diversity

Corporate Governance

Filters

Exam 1: The Study of Business, Government, and Society

Discuss the market capitalism model and explain how it differs from the dominance model.

Which of the following models suggests that there is an exchange of power among the multiple elements in society and does not attribute constant dominance to any one element?

The _____ model is intended to revitalize capitalism with a new conceptualization of how the corporation should work.This theory rejects the shareholder-centered view of the firm.

An enduring belief about which basic choices in a society are "correct" is called an idea.

The entities that have a relationship with a corporation such that they are affected immediately and powerfully by the actions of the corporation are called __.

Theories simplify and organize areas of knowledge by describing patterns or regularities in the subject matter.

A formal pattern of relations that link people together in order to accomplish a goal is a(n)________.

A critique of the _____ model is that creating surplus ethical sensitivity that soars above legal duty is impractical and unnecessary.

The perspective of the market capitalism model leads to the conclusion that:

Governments are secondary stakeholders to corporations.

____ refers to actions taken by managers to adapt a company to changes in its market and sociopolitical environments.

A _____ emerges when people move beyond subsistence production to production for trade,and markets take on a more central role.

A profit-making activity that provides products and services that are intended to satisfy human needs is called a(n)_______.

In addition to unprecedented wealth creation and new material comforts,capitalism also brings in risks of economic shocks.

The countervailing forces model is essentially the same as the market capitalism model.

A set of values that create a specific view of the world is a(n)_______

The primary purpose of a business is to make a profit by providing products that satisfy human needs.

The countervailing forces model differs from the dominance model in that it:

Which of the following statements about social contracts is true?

Which of the following models describes business as responding primarily to economic forces in society?

The Dynamic Environment

Business Power

Critics of Business

Corporate Social Responsibility

Implementing Corporate Social Responsibility

Business Ethics

Making Ethical Decisions in Business

Business in Politics

Regulating Business

Multinational Corporations

Globalization, Trade, and Corruption

Industrial Pollution and Environmental Regulation

Managing Environmental Quality

Consumerism

The Changing Workplace

Civil Rights, Women, and Diversity

Corporate Governance

Filters