BUS-101: Chapter 2 LearnSmart questions with
verified answers
______ is/are principles and standards that determine acceptable conduct
in business. Ans✓✓✓business ethics
_______ refers to the rules and regulations that govern the conduct of
business. Ans✓✓✓business law
A ________ is a mutual agreement between two or more parties that can
be enforced in a court if one party chooses not to comply. (
Ans✓✓✓contract
A business's primary obligation to its owners and investors is to ______.
Ans✓✓✓maximize the owners' investments in the firm
A manufacturer made the decision to buy less expensive component
parts from a supplier which resulted in the reduced quality of its
products. As a result, company sales dropped and many retailers refused
to carry the product line. This is an example of: Ans✓✓✓how negative
judgments can affect an organization's ability to achieve its goals.
A number of studies have found a direct relationship between social
responsibility and _______ as well as a link that exists between
employee commitment and customer loyalty. Ans✓✓✓profitability
, Abusive behavior is difficult to assess and manage because ______.
Ans✓✓✓people have very diverse cultures and lifestyles
According to John F. Kennedy, what are the four basic rights of
consumers? Ans✓✓✓- the right to be heard
- the right to be informed
- the right to safety
- the right to choose
According to the rights of consumers established by John F. Kennedy,
the right to _____ ensures that consumers have access to a variety of
goods and services at competitive prices. Ans✓✓✓choose
According to your text, ethical decisions in organizations are influenced
by what three key factors? Ans✓✓✓-Individual moral standards and
values
-The opportunity to engage in misconduct
-The influence of managers and co-workers
Although sexual harassment has legal recourse, ______ has little
recourse at this time. Ans✓✓✓bullying
An identifiable problem, situation, or opportunity that requires a person
to choose between actions that may be evaluated as ethical or unethical
is referred to as _______. Ans✓✓✓an ethical issue
verified answers
______ is/are principles and standards that determine acceptable conduct
in business. Ans✓✓✓business ethics
_______ refers to the rules and regulations that govern the conduct of
business. Ans✓✓✓business law
A ________ is a mutual agreement between two or more parties that can
be enforced in a court if one party chooses not to comply. (
Ans✓✓✓contract
A business's primary obligation to its owners and investors is to ______.
Ans✓✓✓maximize the owners' investments in the firm
A manufacturer made the decision to buy less expensive component
parts from a supplier which resulted in the reduced quality of its
products. As a result, company sales dropped and many retailers refused
to carry the product line. This is an example of: Ans✓✓✓how negative
judgments can affect an organization's ability to achieve its goals.
A number of studies have found a direct relationship between social
responsibility and _______ as well as a link that exists between
employee commitment and customer loyalty. Ans✓✓✓profitability
, Abusive behavior is difficult to assess and manage because ______.
Ans✓✓✓people have very diverse cultures and lifestyles
According to John F. Kennedy, what are the four basic rights of
consumers? Ans✓✓✓- the right to be heard
- the right to be informed
- the right to safety
- the right to choose
According to the rights of consumers established by John F. Kennedy,
the right to _____ ensures that consumers have access to a variety of
goods and services at competitive prices. Ans✓✓✓choose
According to your text, ethical decisions in organizations are influenced
by what three key factors? Ans✓✓✓-Individual moral standards and
values
-The opportunity to engage in misconduct
-The influence of managers and co-workers
Although sexual harassment has legal recourse, ______ has little
recourse at this time. Ans✓✓✓bullying
An identifiable problem, situation, or opportunity that requires a person
to choose between actions that may be evaluated as ethical or unethical
is referred to as _______. Ans✓✓✓an ethical issue
