Chapter 4 Test Review

Question 1

Conflict of interest occurs when actions by a company/individual results in an unfair benefit.

Accepted Answer

True

Question 2

If one company owned all the grocery stores in Texas, this would be called what?

Accepted Answer

Monopoly

Question 3

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

Accepted Answer

Pollution

Question 4

Government plays a large role in all economic systems and businesses.

Accepted Answer

True

Question 5

Which question should you NOT ask when determining if something is ethical?

Accepted Answer

Can I get away with this action?

Question 6

A tax that is based on the value of land and buildings (houses) is called a _____________ tax.

Accepted Answer

Property

Question 7

The three types of Intellectual Property are patent, copyright and ____________________.

Accepted Answer

Trademark

Question 8

The individual income tax is the largest source of revenue by the federal government.

Accepted Answer

True

Question 9

Governments interfere with businesses to prevent unfair business practices, like monopolies.

Accepted Answer

True

Question 10

Governments borrow money by selling ___________________.

Accepted Answer

Bonds

Question 11

Governments help business by buying goods/services; they buy about ___ % of all G/S produced.

Accepted Answer

20

Question 12

What are ways that governments raise revenue?

Accepted Answer

All are way for governments to raise money (revenue)

Question 13

One way that governments collect information that can help businesses is by taking a census.

Accepted Answer

True

Question 14

The ADA protects persons aged and ______ and older from employment discrimination.

Accepted Answer

40

Question 15

This protection for authors and composers lasts the lifetime of the creator, plus 70 years?

Accepted Answer

Copyright

Question 16

Having a Code of Ethics allows a company to identify proper employee behavior.

Accepted Answer

True

Question 17

A trademark linked with a specific company or products is comprised of what?

Accepted Answer

All are correct!

Question 18

Government income is called revenue.

Accepted Answer

True

Question 19

Which government level normally provides fire and police service?

Accepted Answer

Local

Question 20

A patent gives an inventor use of his product for ___________ years.

Accepted Answer

20

Question 21

Intellectual Property is something you have invented or created.

Accepted Answer

True

Question 22

This is the symbol for which type of intellectual property protection?

Accepted Answer

Copyright

Question 23

A state/local tax on goods & services collected by the seller is called ___________________.

Accepted Answer

Sales Tax

Question 24

Public utility companies include all of these, EXCEPT which one?

Accepted Answer

A gas station

Question 25

_______________ are principles of morality or rules of conduct.

Accepted Answer

Ethics

Question 26

Which is NOT a non-renewable resource?

Accepted Answer

Lumber

Question 27

Governments are mostly interested in making a profit.

Accepted Answer

False

Question 28

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

Accepted Answer

False

Question 29

If a company only does business in Texas, it's considered _____________________.

Accepted Answer

Intrastate

Question 30

Property taxes are collected by local governments and pay for which of the following?

Accepted Answer

All Choices

Question 31

Being "socially responsible" costs businesses lots of money but is worth the benefits.

Accepted Answer

True

Question 32

Government is the largest employer in the US economy (16% of all workers are public employees).

Accepted Answer

True

Chapter 4 Test Review

Questions 32

Chapter 4 Test Review

Questions 32