BUSN 410 WEEK 8 FINAL EXAM 2026
PRACTICE TEST QUESTIONS WITH ANSWERS
◉ General Agreement on Tariffs and Trade (GATT). Answer: A 1948
agreement that established an international forum for negotiating
mutual reductions in trade restrictions.
◉ World Trade Organization (WTO). Answer: The international
organization that replaced the General Agreement on Tariffs and
Trade, and was assigned the duty to mediate trade disputes among
nations.
◉ common market. Answer: A regional group of countries that have
a common external tariff, no internal tariffs, and a coordination of
laws to facilitate exchange; also called a trading bloc. An example is
the European Union.
◉ chapter 3:
ethics. Answer: Standards of moral behavior; that is, behavior
accepted by society as right versus wrong
◉ compliance-based ethics codes. Answer: Ethical standards that
emphasize preventing unlawful behavior by increasing control and
by penalizing wrongdoers.
, ◉ integrity-based ethics codes. Answer: Ethical standards that
define the organization's guiding values, create an environment that
supports ethically sound behavior, and stress a shared
accountability among employees.
◉ corporate social responsibility (CSR). Answer: A business's
concern for the welfare of society.
◉ corporate philanthropy. Answer: The dimension of social
responsibility that includes charitable donations.
◉ corporate social initiatives. Answer: Enhanced forms of corporate
philanthropy directly related to the company's competencies.
◉ corporate responsibility. Answer: The dimension of social
responsibility that includes everything from hiring minority workers
to making safe products
◉ corporate policy. Answer: The dimension of social responsibility
that refers to the position a firm takes on social and political issues.
◉ chapter 4:
PRACTICE TEST QUESTIONS WITH ANSWERS
◉ General Agreement on Tariffs and Trade (GATT). Answer: A 1948
agreement that established an international forum for negotiating
mutual reductions in trade restrictions.
◉ World Trade Organization (WTO). Answer: The international
organization that replaced the General Agreement on Tariffs and
Trade, and was assigned the duty to mediate trade disputes among
nations.
◉ common market. Answer: A regional group of countries that have
a common external tariff, no internal tariffs, and a coordination of
laws to facilitate exchange; also called a trading bloc. An example is
the European Union.
◉ chapter 3:
ethics. Answer: Standards of moral behavior; that is, behavior
accepted by society as right versus wrong
◉ compliance-based ethics codes. Answer: Ethical standards that
emphasize preventing unlawful behavior by increasing control and
by penalizing wrongdoers.
, ◉ integrity-based ethics codes. Answer: Ethical standards that
define the organization's guiding values, create an environment that
supports ethically sound behavior, and stress a shared
accountability among employees.
◉ corporate social responsibility (CSR). Answer: A business's
concern for the welfare of society.
◉ corporate philanthropy. Answer: The dimension of social
responsibility that includes charitable donations.
◉ corporate social initiatives. Answer: Enhanced forms of corporate
philanthropy directly related to the company's competencies.
◉ corporate responsibility. Answer: The dimension of social
responsibility that includes everything from hiring minority workers
to making safe products
◉ corporate policy. Answer: The dimension of social responsibility
that refers to the position a firm takes on social and political issues.
◉ chapter 4:
