NAF Ethics + Business Practice Lessons 7-8

Question 1

Programs a corporation puts in place to make a positive contribution to a community or society

Accepted Answer

Corporate Social Responsibility

Question 2

The deliberate use of false statements or deception in advertising.

Accepted Answer

False Advertising

Question 3

A government agency created in 1984 to ensure that corporate crimes receive hefty punishments.

Accepted Answer

US Sentencing Commission

Question 4

Practice of selling products at low price to drive competitors out the market/prevent new ones

Accepted Answer

Predatory Pricing

Question 5

A trade movement that calls for people to receive a fair price for their goods and services.

Accepted Answer

Fair Trade

Question 6

Accountant from an outside source/film who review financial books & determine they are accurate

Accepted Answer

Auditor

Question 7

Field of study that deals with moral & ethical principals behind different marketing strategies

Accepted Answer

Marketing Ethics

Question 8

When a producer creates a product that will become obsolete and nonfunctional after time or use

Accepted Answer

Planned Obsolescence

Question 9

Agreement between business competitors to sell the same product or service at the same price

Accepted Answer

Price-Fixing

Question 10

Latin term that means "Let the buyer beware." Buyers cannot recover damages from the seller.

Accepted Answer

Caveat Emptor

Question 11

An individual's obligation to help make society better.

Accepted Answer

Social Responsibility

Question 12

Passed in 2002, mandates standards for accurate financial reporting.

Accepted Answer

Sarbanes-Oxley Act (SOX)

Question 13

Susceptibility of consumers to target marketing that preys on the disabilities of the customer.

Accepted Answer

Consumer Vulnerability

Question 14

The marketing mix product, price, promotion, and placement used as a framework for analysis.

Accepted Answer

Four Ps

Question 15

Attempt to promote a product by referring to negative aspects of a competing product.

Accepted Answer

Negative Advertising

Question 16

Increasing economic and business interdependence around the world

Accepted Answer

Globalization

Question 17

The marketing of a good/service is aimed at a certain demographic determined by age gender etc.

Accepted Answer

Target Marketing

Question 18

Enacted by Congress in 1972, Established the CPSC to develop safety standards.

Accepted Answer

Consumer Product Safety Act

Question 19

Advertising a low price product but then switching the offer for a higher price product.

Accepted Answer

Bait and Switch

Question 20

The shifting of a company's business processes to an outside contractor.

Accepted Answer

Outsourcing

Question 21

Process or technique of promoting, selling and distributing a product or a service to consumers

Accepted Answer

Marketing

Question 22

Factories (often clothing factories) with poor or even dangerous working conditions.

Accepted Answer

Sweatshops

Question 23

Process which manufactures or advertisers pay to have products displayed in a movie/other media

Accepted Answer

Product Placement

Question 24

Created by the USSC these guiding principles assign fines & prison terms for different crimes

Accepted Answer

Federal Sentencing Guidelines

Question 25

A marketing strategy whereby consumers are misled about a company's environmental practices.

Accepted Answer

Greenwashing

Question 26

Manufacturers of products are responsible for the injuries those products cause to the public.

Accepted Answer

Product Liability

Question 27

When a seller's asking price is much higher than what would be fair under the circumstances

Accepted Answer

Price gouging

NAF Ethics + Business Practice Lessons 7-8

Questions 27

NAF Ethics + Business Practice Lessons 7-8

Questions 27