MSB - 201 (BYU) EXAM WITH COMPLETE SOLUTIONS!!
The three organizations we will focus on in this course are... - ANSWER The family,
nonprofit organizations, for-profit organizations
By using the factors of production efficiently, a company can produce more products
and services with the same resources, increasing productivity. Which of the following
are considered factors of production? - ANSWER Natural Resources, Labor (human
resources), capital, entrepreneurship
The term "___________" means that human needs or wants for goods, services, and
resources exceed what is available. - ANSWER Scarcity
Adam Smith felt that capitalism, a system of free markets, free enterprise, and private
control of property, was the ideal economy, while Karl Marx thought that a state owned
and controlled economy would be best. - ANSWER True
Normative ethics builds on the social sciences such as psychology, sociology, and
economics to help us better understand right from wrong. - ANSWER False (normative
ethics is built on theology and philosophy)
Joe Paterno was a legendary football coach at Penn State who lost his reputation
because of a lack of skill in dealing with a serious ethical issue. - ANSWER True
Theranos is a company that produces a machine that can test blood for a variety of
diseases using only a pinprick's worth of blood. - ANSWER False
The Vision of the BYU Marriott School is as follows: "We aspire to transform the world
through Christlike leadership." - ANSWER True
In his dedicatory prayer for the Bell Tower during the BYU Centennial, President Kimball
, prayed that "the morality of the graduates of this university will provide the music of
hope for the inhabitants of this planet." - ANSWER True
In their work on ethics in organizations, Dr. Agle and his colleagues found that over 95%
of all ethical dilemmas could be found in a list of 20 dilemmas. - ANSWER False (there
are 13 dilemma types)
The Venn Diagram model of ethical leadership contains three dimensions: values and
desires, character, and knowledge and skills. - ANSWER True
It is easy to be cynical about business ethics because there are so many unethical
business people in the world. - ANSWER True
Many people enjoy a good standard of living because of ethical business people. -
ANSWER True
Behavioral ethics are based in the social sciences and help us to better understand why
business people do what they do when it comes to ethics. - ANSWER True
Nathan left Frank's office unsure of what to do. Frank, the managing partner of the firm,
had just asked him to file a return for a major client improperly showing zero fines or
underpayment penalties. This client was important to the firm, and especially to Frank,
who had a longstanding relationship with him. - ANSWER Standing up to Power
(Someone in power makes an unethical request)
Susan promised to work for a nonprofit for at least six months. But now a better job
opportunity had come her way. One month after being hired, a visiting consultant
recognized Susan's abilities and offered her a job with his consulting firm that would pay
$20,000 more per year and would give Susan the kind of experience she needed to get
into the MBA program of her choice. - ANSWER Made a Promise then the World
Changes (conflicting commitments force a choice between them)
One morning a union worker of a 600-person manufacturing plant in North Carolina
drives onto the company parking lot with a four-foot by eight-foot Confederate flag flying
The three organizations we will focus on in this course are... - ANSWER The family,
nonprofit organizations, for-profit organizations
By using the factors of production efficiently, a company can produce more products
and services with the same resources, increasing productivity. Which of the following
are considered factors of production? - ANSWER Natural Resources, Labor (human
resources), capital, entrepreneurship
The term "___________" means that human needs or wants for goods, services, and
resources exceed what is available. - ANSWER Scarcity
Adam Smith felt that capitalism, a system of free markets, free enterprise, and private
control of property, was the ideal economy, while Karl Marx thought that a state owned
and controlled economy would be best. - ANSWER True
Normative ethics builds on the social sciences such as psychology, sociology, and
economics to help us better understand right from wrong. - ANSWER False (normative
ethics is built on theology and philosophy)
Joe Paterno was a legendary football coach at Penn State who lost his reputation
because of a lack of skill in dealing with a serious ethical issue. - ANSWER True
Theranos is a company that produces a machine that can test blood for a variety of
diseases using only a pinprick's worth of blood. - ANSWER False
The Vision of the BYU Marriott School is as follows: "We aspire to transform the world
through Christlike leadership." - ANSWER True
In his dedicatory prayer for the Bell Tower during the BYU Centennial, President Kimball
, prayed that "the morality of the graduates of this university will provide the music of
hope for the inhabitants of this planet." - ANSWER True
In their work on ethics in organizations, Dr. Agle and his colleagues found that over 95%
of all ethical dilemmas could be found in a list of 20 dilemmas. - ANSWER False (there
are 13 dilemma types)
The Venn Diagram model of ethical leadership contains three dimensions: values and
desires, character, and knowledge and skills. - ANSWER True
It is easy to be cynical about business ethics because there are so many unethical
business people in the world. - ANSWER True
Many people enjoy a good standard of living because of ethical business people. -
ANSWER True
Behavioral ethics are based in the social sciences and help us to better understand why
business people do what they do when it comes to ethics. - ANSWER True
Nathan left Frank's office unsure of what to do. Frank, the managing partner of the firm,
had just asked him to file a return for a major client improperly showing zero fines or
underpayment penalties. This client was important to the firm, and especially to Frank,
who had a longstanding relationship with him. - ANSWER Standing up to Power
(Someone in power makes an unethical request)
Susan promised to work for a nonprofit for at least six months. But now a better job
opportunity had come her way. One month after being hired, a visiting consultant
recognized Susan's abilities and offered her a job with his consulting firm that would pay
$20,000 more per year and would give Susan the kind of experience she needed to get
into the MBA program of her choice. - ANSWER Made a Promise then the World
Changes (conflicting commitments force a choice between them)
One morning a union worker of a 600-person manufacturing plant in North Carolina
drives onto the company parking lot with a four-foot by eight-foot Confederate flag flying
