Question 1

The tangible artifacts of a society that shape and are shaped by ideas and institutions are called _______.

Accepted Answer

A)  material things 
B)  markets 
C)  customs 
D)  services 
A)  material things 
B)  markets 
C)  customs 
D)  services

Question 2

Which of the following is an example of a primary stakeholder in a corporation?

Accepted Answer

A)  Media 
B)  Government 
C)  Trade associations 
D)  Political parties 
A)  Media 
B)  Government 
C)  Trade associations 
D)  Political parties

Question 3

In which of the following models do business and government govern the great mass of people?

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

Question 4

A business uses society's resources to create new wealth.

Accepted Answer

A) True 
 B)False

Question 5

Describe the dominance model.

Accepted Answer

According to the dominance model,busines

Question 6

_____ is an economic ideology with a bundle of values including private ownership of means of production,the profit motive,free competition,and limited government restraint in markets.

Accepted Answer

A)  Capitalism 
B)  Socialism 
C)  Communism 
D)  Democracy 
A)  Capitalism 
B)  Socialism 
C)  Communism 
D)  Democracy

Question 7

Define "business".

Accepted Answer

Business is defined as a profit-making a

Question 8

The network of human relations that consists of ideas,institutions,and material things is a(n)________.

Accepted Answer

A)  ideology 
B)  society 
C)  theory 
D)  government 
A)  ideology 
B)  society 
C)  theory 
D)  government

Question 9

Which of the following statements about the countervailing forces model is true?

Accepted Answer

A)  It represents primarily the perspective of business critics. 
B)  It reflects the BGS relationship in Western industrialized nations. 
C)  It stands for the belief that government intervention in the market is undesirable. 
D)  It assumes that individuals can own private property and freely risk investments. 
A)  It represents primarily the perspective of business critics. 
B)  It reflects the BGS relationship in Western industrialized nations. 
C)  It stands for the belief that government intervention in the market is undesirable. 
D)  It assumes that individuals can own private property and freely risk investments.

Question 10

Despite its shortcomings,a compelling argument in favor of the stakeholder model is that:

Accepted Answer

A)  it isolates business from the broader society and defines the duties of a business as one of profit making. 
B)  it has distinguished proponents like Adam Smith and Karl Marx. 
C)  it clearly distinguishes between primary and secondary stakeholders making it easier for a corporation to satisfy each of them. 
D)  it is the ethical way to manage because stakeholders have moral rights that grow from the way powerful corporations affect them. 
A)  it isolates business from the broader society and defines the duties of a business as one of profit making. 
B)  it has distinguished proponents like Adam Smith and Karl Marx. 
C)  it clearly distinguishes between primary and secondary stakeholders making it easier for a corporation to satisfy each of them. 
D)  it is the ethical way to manage because stakeholders have moral rights that grow from the way powerful corporations affect them.

Question 11

The basic agreement between a business and its society that defines the broad duties of the business that are needed to retain the support of society is called a(n)_______.

Accepted Answer

A)  social contract 
B)  ideology 
C)  institution 
D)  scheme 
A)  social contract 
B)  ideology 
C)  institution 
D)  scheme

Question 12

_____ is a recurrent spectacle in which common people who feel oppressed or disadvantaged in some way seek to take power from ruling elite that thwarts fulfillment of the collective welfare.

Accepted Answer

A)  Populism 
B)  Collectivism 
C)  Laissez-faire 
D)  Capitalism 
A)  Populism 
B)  Collectivism 
C)  Laissez-faire 
D)  Capitalism

Question 13

The _____ model believes that it is undemocratic for corporations and the powerful elite to control a system that enriches a few at the expense of many.

Accepted Answer

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

Question 14

A conclusion that can be drawn from the _____ model is that business is deeply integrated into an open society and must respond to multiple economic and noneconomic factors.

Accepted Answer

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

Question 15

The economic philosophy that rejects government intervention in markets is called __.

Accepted Answer

A)  socialism 
B)  laissez-faire 
C)  communism 
D)  totalitarianism 
A)  socialism 
B)  laissez-faire 
C)  communism 
D)  totalitarianism

Question 16

Which of the following is an assumption of the market capitalism model?

Accepted Answer

A)  Government intervention in economic life is significant. 
B)  Individuals can own private property and freely risk investments. 
C)  Consumers have limited knowledge about products and prices. 
D)  Limited information prevents individuals from making completely rational decisions. 
A)  Government intervention in economic life is significant. 
B)  Individuals can own private property and freely risk investments. 
C)  Consumers have limited knowledge about products and prices. 
D)  Limited information prevents individuals from making completely rational decisions.

Question 17

Which of the following is an example of a secondary stakeholder in a corporation?

Accepted Answer

A)  Customers 
B)  Unions 
C)  Employees 
D)  Stockholders 
A)  Customers 
B)  Unions 
C)  Employees 
D)  Stockholders

Question 18

_____ believed that owners of capital exploited workers and promoted systems of rising inequality.

Accepted Answer

A)  Karl Marx 
B)  Vladimir Lenin 
C)  Bernard Mandeville 
D)  Adam Smith 
A)  Karl Marx 
B)  Vladimir Lenin 
C)  Bernard Mandeville 
D)  Adam Smith

Question 19

Which of the following was an observation made by Adam Smith?

Accepted Answer

A)  Corporations are insulated from pressures holding them responsible. 
B)  The desire to trade for mutual advantage lies deep in human instinct. 
C)  Common people who feel disadvantaged in some way seek to take power from the ruling elite. 
D)  To maintain broad public support,business must adjust to social,political,and economic forces. 
A)  Corporations are insulated from pressures holding them responsible. 
B)  The desire to trade for mutual advantage lies deep in human instinct. 
C)  Common people who feel disadvantaged in some way seek to take power from the ruling elite. 
D)  To maintain broad public support,business must adjust to social,political,and economic forces.

Question 20

The dominance model represents business primarily based on the economic forces that affect it.

Accepted Answer

A) True 
 B)False

The tangible artifacts of a society that shape and are shaped by ideas and institutions are called _______.

Which of the following is an example of a primary stakeholder in a corporation?

In which of the following models do business and government govern the great mass of people?

A business uses society's resources to create new wealth.

Describe the dominance model.

_____ is an economic ideology with a bundle of values including private ownership of means of production,the profit motive,free competition,and limited government restraint in markets.

Define "business".

The network of human relations that consists of ideas,institutions,and material things is a(n)________.

Which of the following statements about the countervailing forces model is true?

Despite its shortcomings,a compelling argument in favor of the stakeholder model is that:

The basic agreement between a business and its society that defines the broad duties of the business that are needed to retain the support of society is called a(n)_______.

_____ is a recurrent spectacle in which common people who feel oppressed or disadvantaged in some way seek to take power from ruling elite that thwarts fulfillment of the collective welfare.

The _____ model believes that it is undemocratic for corporations and the powerful elite to control a system that enriches a few at the expense of many.

A conclusion that can be drawn from the _____ model is that business is deeply integrated into an open society and must respond to multiple economic and noneconomic factors.

The economic philosophy that rejects government intervention in markets is called __.

Which of the following is an assumption of the market capitalism model?

Which of the following is an example of a secondary stakeholder in a corporation?

_____ believed that owners of capital exploited workers and promoted systems of rising inequality.

Which of the following was an observation made by Adam Smith?

The dominance model represents business primarily based on the economic forces that affect it.

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

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

The tangible artifacts of a society that shape and are shaped by ideas and institutions are called _______.

Which of the following is an example of a primary stakeholder in a corporation?

In which of the following models do business and government govern the great mass of people?

A business uses society's resources to create new wealth.

Describe the dominance model.

_____ is an economic ideology with a bundle of values including private ownership of means of production,the profit motive,free competition,and limited government restraint in markets.

Define "business".

The network of human relations that consists of ideas,institutions,and material things is a(n)________.

Which of the following statements about the countervailing forces model is true?

Despite its shortcomings,a compelling argument in favor of the stakeholder model is that:

The basic agreement between a business and its society that defines the broad duties of the business that are needed to retain the support of society is called a(n)_______.

_____ is a recurrent spectacle in which common people who feel oppressed or disadvantaged in some way seek to take power from ruling elite that thwarts fulfillment of the collective welfare.

The _____ model believes that it is undemocratic for corporations and the powerful elite to control a system that enriches a few at the expense of many.

A conclusion that can be drawn from the _____ model is that business is deeply integrated into an open society and must respond to multiple economic and noneconomic factors.

The economic philosophy that rejects government intervention in markets is called __.

Which of the following is an assumption of the market capitalism model?

Which of the following is an example of a secondary stakeholder in a corporation?

_____ believed that owners of capital exploited workers and promoted systems of rising inequality.

Which of the following was an observation made by Adam Smith?

The dominance model represents business primarily based on the economic forces that affect it.

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