Business Ethics- Chapter 10 Exam Questions and Answers (Graded A+) Already Passed
Which of the following is based on the assumption that people are predictable and will seek to maximize
the utility of their choices relative to their needs and wants?
a. Behavioral economics
b. Communism
c. Free market economics
d. Rational economics
e. Socialism - Answers Rational economics
Of the following statements, which is correct?
a. When companies charge low prices for products sold in their home markets while selling the same
products in foreign markets at high prices, the practice is known as dumping.
, b. When companies charge high prices for products sold in foreign markets while selling the same
products in their home markets at low prices that do not cover all the costs of exporting the products,
the practice is known as dumping.
c. When companies charge high prices for products sold in their home markets while selling the same
products in foreign markets at low prices that do not cover all the costs of exporting the products, the
practice is known as dumping.
d. Dumping encourages competition and benefits workers in home countries.
e. Dumping is still legal under many international laws, even though it substantially reduces
competition. - Answers When companies charge high prices for products sold in their home markets
while selling the same products in foreign markets at low prices that do not cover all the costs of
exporting the products, the practice is known as dumping.
Which organization was established in 1995 at the Uruguay round of negotiations?
a. IFCC
b. GATT
c. WTO
Which of the following is based on the assumption that people are predictable and will seek to maximize
the utility of their choices relative to their needs and wants?
a. Behavioral economics
b. Communism
c. Free market economics
d. Rational economics
e. Socialism - Answers Rational economics
Of the following statements, which is correct?
a. When companies charge low prices for products sold in their home markets while selling the same
products in foreign markets at high prices, the practice is known as dumping.
, b. When companies charge high prices for products sold in foreign markets while selling the same
products in their home markets at low prices that do not cover all the costs of exporting the products,
the practice is known as dumping.
c. When companies charge high prices for products sold in their home markets while selling the same
products in foreign markets at low prices that do not cover all the costs of exporting the products, the
practice is known as dumping.
d. Dumping encourages competition and benefits workers in home countries.
e. Dumping is still legal under many international laws, even though it substantially reduces
competition. - Answers When companies charge high prices for products sold in their home markets
while selling the same products in foreign markets at low prices that do not cover all the costs of
exporting the products, the practice is known as dumping.
Which organization was established in 1995 at the Uruguay round of negotiations?
a. IFCC
b. GATT
c. WTO
