PHI 445 WEEK 2 QUIZ GRADED A VERIFIED

PHI 445 WEEK 2 QUIZ Question 1 1 / 1 pts Which revolution motivated Marx and Engels to write The Communist Manifesto? Scientific Correct! Industrial Neolithic Revolutionary The answer is found in Section 2.3 Karl Marx’s Socialism in Introduction in Business Ethics. Question 2 1 / 1 pts The original reason for the formation of the Federal Trade Commission (FTC) in 1914 was to block all mergers and acquisitions. prevent civil cases against businesses. Correct! prevent oligopolies or monopolies that lead to unfair competition. promote mergers and acquisitions. The answer is in Section 2.6 Regulating the Free Market in Introduction to Business Ethics. Question 3 1 / 1 pts The government law that regulates mergers and acquisitions of companies is the Sherman Antitrust Act. Securities and Exchange Act. Sarbanes-Oxley Act. Correct! Clayton Antitrust Act. The answer is found in Section 2.6 Regulating the Free Market in Introduction to Business Ethics. Question 4 1 / 1 pts The viewpoint that business should be privately controlled and not controlled by the government is a perspective of a ________ economy. socialism communism Correct! capitalist traditional The answer is in Section 2.1 Capitalism and Socialism Defined in Introduction to Business Ethics. Question 5 1 / 1 pts Which of the following statements is a criticism of capitalism? It allows too much government intervention for the purpose of monitor businesses. Centralization is an ineffective way to structure the economy. Correct! It allows large and powerful businesses to lobby the government against consumer interests. Consumers have a difficult time taking advantage of return policies or suing for wrongdoing. The answer is in Section 2.4 Assessment of Capitalism and Socialism in Introduction to Business Ethics. Question 6 1 / 1 pts After Superstorm Sandy hit New Jersey, some businesses such as gasoline stations and car repair stores raised prices to bring in windfall profits off desperate customers. This is an example of price bidding. fixing. Correct! gouging. warfare. The answer is in Section 2.5 Anticompetitive Practices in Introduction to Business Ethics. Question 7 1 / 1 pts ________ is the idea that an investor’s liability is no greater than his or her financial stake in the business. Correct! Limited liability Legal standing Investor liability Limited investment The answer is in Section 3.1 The Nature of Corporations in Introduction to Business Ethics. Question 8 1 / 1 pts One of the main advantages of a corporation is earnings are higher. ease of organization. Correct! limited liability for stockholders. fewer legal restrictions. The answer is in Section 3.1 The Nature of Corporations in Introduction to Business Ethics. Question 9 1 / 1 pts When a company’s leaders have the illusion of invulnerability that causes them to underestimate factors that lead to failure, this is an example of: strategic misrepresentation profit motive organizational schizophrenia Correct! groupthink The answer is in Section 3.4 Threats to Ethical Corporate Culture in Introduction to Business Ethics. Question 10 1 / 1 pts Which of the following statements is true about strategic misrepresentation? It is always illegal when used in business. Correct! It is misleading information used for financial gain. It is never used in business negotiations. It is an accepted business practice for all situations. The answer is in Section 3.4 Threats to Ethical Corporate Culture in Introduction to Business Ethics. Question 11 1 / 1 pts Using a punishment to set an example in order to prevent crime is called Correct! deterrence. incapacitation. retribution. rehabilitation . The answer is in Section 3.2 Punishing Corporations in Introduction to Business Ethics. Question 12 1 / 1 pts Which of the following is not one of the objectives society has for punishing corporations? Correct! Revenge Deterrence Incapacitation Rehabilitation The answer is in Section 3.2 Punishing Corporations in Introduction to Business Ethics.