BUS 101 INTRO TO BUSINESS ACTUAL EXAM
QUESTIONS WITH VERIFIED SOLUTIONS
Some global corporations are large enough to create major changes in the external
environment.
False
If the company wants employees to take ethical training seriously, the training should not
include games.
False
The philosophy of utilitarianism is used to explain why restaurants, theaters, and hotels
should make themselves handicapped accessible.
False
Business owners and managers have a great deal of control over the internal environment
of business, which covers the day-to-day business decisions.
True
Which of the following countries has a high standard of living?
the United States
Which of the following is not an example of a good that would be sold in a department
store?
the advice of a wedding planner
Human rights include an individual's right to life, to freedom, and to the pursuit of
happiness.
True
All businesses approach ethics the same way.
False
Which of the following is an example of a business?
All of the above
Which of the following businesses provides its customers with a good?
bicycle manufacturer
,_____ is a philosophy that focuses on the consequences of an action to determine whether it
is right or wrong. This philosophy holds that an action that affects the majority adversely is
morally wrong.
Utilitarianism
Which of the following statements about utilitarianism is true?
Utilitarianism is designed to create both winners and losers.
Which of the following businesses provides its customers with a service?
a law office
People who combine natural resources, labor, and capital in a profitable venture are called
entrepreneurs.
True
Ethical decision making begins in the marketing department
False
A business is an organization that strives for a profit by providing goods and services
desired by its customers.
True
The most basic responsibility of all businesses is its economic responsibility.
True
The _____ of any country is measured by the output of goods and services people can buy
with the money they have.
standard of living
Mamma's Diner was a small restaurant that was a popular hangout for many Bedford
College students, but because of the owner's inability to make the bathroom stalls
handicapped accessible for the one wheel-chair student on campus, it was forced to close
down. The belief that this it was morally wrong to deprive the majority of the people of this
experience is an expression of the philosophy associated with:
utilitarianism
Social responsibility is a voluntary obligation.
True
Not-for-profit organizations have the same goals as for-profit organizations.
False
, Factors of production are common to all productive activities, regardless of the economic
system.
True
Ethics training programs typically teach how to disguise unethical behavior and not how to
avoid unethical behavior.
False
The distributive process by which the burdens and rewards that society has to offer are
shared varies from society to society.
True
Many people consider knowledge to be a fifth factor of production
True
To be a useful code of ethics, the code should offer broad policies and procedures rather
than detailed rules.
False
Which of the following statements about utilitarianism is true?
Utilitarianism holds that an action that affects the majority adversely is morally wrong
Labor, as a factor of production, relates only to the production of manufactured goods;
services are not included.
False
In the 21st century, we define justice as:
an equitable distribution of the burdens and rewards that society has to offer
The standard of living in any country is:
measured by the output of goods and services people can buy with the money they have
Utilitarianism:
is difficult to implement because it is hard to tell how one decision will impact a large number of
people
As a factor of production, capital includes money.
False
The major difference between a good and a service is how the producer uses the factors of
production to create each.
False
QUESTIONS WITH VERIFIED SOLUTIONS
Some global corporations are large enough to create major changes in the external
environment.
False
If the company wants employees to take ethical training seriously, the training should not
include games.
False
The philosophy of utilitarianism is used to explain why restaurants, theaters, and hotels
should make themselves handicapped accessible.
False
Business owners and managers have a great deal of control over the internal environment
of business, which covers the day-to-day business decisions.
True
Which of the following countries has a high standard of living?
the United States
Which of the following is not an example of a good that would be sold in a department
store?
the advice of a wedding planner
Human rights include an individual's right to life, to freedom, and to the pursuit of
happiness.
True
All businesses approach ethics the same way.
False
Which of the following is an example of a business?
All of the above
Which of the following businesses provides its customers with a good?
bicycle manufacturer
,_____ is a philosophy that focuses on the consequences of an action to determine whether it
is right or wrong. This philosophy holds that an action that affects the majority adversely is
morally wrong.
Utilitarianism
Which of the following statements about utilitarianism is true?
Utilitarianism is designed to create both winners and losers.
Which of the following businesses provides its customers with a service?
a law office
People who combine natural resources, labor, and capital in a profitable venture are called
entrepreneurs.
True
Ethical decision making begins in the marketing department
False
A business is an organization that strives for a profit by providing goods and services
desired by its customers.
True
The most basic responsibility of all businesses is its economic responsibility.
True
The _____ of any country is measured by the output of goods and services people can buy
with the money they have.
standard of living
Mamma's Diner was a small restaurant that was a popular hangout for many Bedford
College students, but because of the owner's inability to make the bathroom stalls
handicapped accessible for the one wheel-chair student on campus, it was forced to close
down. The belief that this it was morally wrong to deprive the majority of the people of this
experience is an expression of the philosophy associated with:
utilitarianism
Social responsibility is a voluntary obligation.
True
Not-for-profit organizations have the same goals as for-profit organizations.
False
, Factors of production are common to all productive activities, regardless of the economic
system.
True
Ethics training programs typically teach how to disguise unethical behavior and not how to
avoid unethical behavior.
False
The distributive process by which the burdens and rewards that society has to offer are
shared varies from society to society.
True
Many people consider knowledge to be a fifth factor of production
True
To be a useful code of ethics, the code should offer broad policies and procedures rather
than detailed rules.
False
Which of the following statements about utilitarianism is true?
Utilitarianism holds that an action that affects the majority adversely is morally wrong
Labor, as a factor of production, relates only to the production of manufactured goods;
services are not included.
False
In the 21st century, we define justice as:
an equitable distribution of the burdens and rewards that society has to offer
The standard of living in any country is:
measured by the output of goods and services people can buy with the money they have
Utilitarianism:
is difficult to implement because it is hard to tell how one decision will impact a large number of
people
As a factor of production, capital includes money.
False
The major difference between a good and a service is how the producer uses the factors of
production to create each.
False
