Intro to Business - Chapter 4

Question 1

If a company has a code of ethics,

Accepted Answer

company will be able to identify proper employee behavior

Question 2

Socially responsible actions benefit employees and community while costing the company nothing.

Accepted Answer

False

Question 3

Business ?? are rules about how businesses and their employees out to behave

Accepted Answer

ethics

Question 4

Suppose one company owned all of the grocery stores in your state. This would be a

Accepted Answer

monopoly

Question 5

Which of the following is a copyright symbol?

Accepted Answer

©

Question 6

A public utility company is a company that is owned by government.

Accepted Answer

False

Question 7

A state or local tax on goods and services that is collected by the seller is called a

Accepted Answer

sales tax

Question 8

All written contracts are legal.

Accepted Answer

False

Question 9

A(n) ?? is an agreement to exchange goods or services for something of value.

Accepted Answer

contract

Question 10

A (n) ?? protects the creative work of authors, composers, and artists.

Accepted Answer

copyright

Question 11

The largest source of revenue for the federal government is the

Accepted Answer

individual income tax

Question 12

Information the government collects in a census can help a business decide where customers live

Accepted Answer

True

Question 13

Business dealing involving companies in more than one state is ?? commerce

Accepted Answer

interstate

Question 14

Which of the following is a way the U.S. government gets involved in business activities?

Accepted Answer

it attempts to prevent unfair business practices

Question 15

Property tax revenue is used to pay for all of the following EXCEPT

Accepted Answer

Medicare and Medicaid

Question 16

Which of the following would NOT be considered a utility company?

Accepted Answer

gas station

Question 17

In the U.S., police and fire protection is usually provided by

Accepted Answer

local government

Question 18

Which question should you NOT ask yourself when considering an ethical situation?

Accepted Answer

Can I get away with the action?

Question 19

Saving scarce natural resources is called

Accepted Answer

conservation

Question 20

Government plays a role in all economic systems.

Accepted Answer

True

Question 21

A word, letter, or symbol linked with a specific company or product is a(n) ??

Accepted Answer

trademark

Question 22

A patent gives an inventor a new product the sole right to make, use, or sell the item for

Accepted Answer

20 years

Question 23

?? are principles of morality or rules of conduct.

Accepted Answer

Ethics

Question 24

Government is the single largest employer of the U.S. economy.

Accepted Answer

True

Question 25

The major challenge facing businesses today involves learning how to manage diverse cultures.

Accepted Answer

True

Question 26

Top management has little impact on the ethical conduct of a business.

Accepted Answer

False

Question 27

Government is mainly concerned with all of the following roles EXCEPT

Accepted Answer

making a profit

Question 28

Governments borrow money by selling

Accepted Answer

bonds

Question 29

A ?? of interest occurs when an action by a company or individual results in an unfair benefit

Accepted Answer

conflict

Question 30

When the by-products of human actions taint the environment, ?? occurs

Accepted Answer

pollution

Question 31

If you write an original song, your work can be protected with a copyright.

Accepted Answer

True

Question 32

Antitrust laws protect consumers from all of the following EXCEPT

Accepted Answer

products becoming outdated too quickly

Question 33

A public ?? is an organization that supplies a service or product that is vital to all people.

Accepted Answer

utility

Question 34

All of the following are non-renewable resources EXCEPT

Accepted Answer

lumber

Question 35

Valid, enforceable contracts must contain consideration, which is

Accepted Answer

something of measurable value that must be exchanged

Intro to Business - Chapter 4

Questions 35

Intro to Business - Chapter 4

Questions 35