MSB 201 (BYU) EXAM QUESTIONS AND
ANSWERS 100% PASS 2026/2027
The three organizations we will focus on in this course are... - ANS The family, nonprofit
organizations, for-profit organizations
By using the factors of production efficiently, a company can produce more products and
services with the same resources, increasing productivity. Which of the following are considered
factors of production? - ANS Natural Resources, Labor (human resources), capital,
entrepreneurship
The term "___________" means that human needs or wants for goods, services, and resources
exceed what is available. - ANS Scarcity
Adam Smith felt that capitalism, a system of free markets, free enterprise, and private control of
property, was the ideal economy, while Karl Marx thought that a state owned and controlled
economy would be best. - ANS True
Normative ethics builds on the social sciences such as psychology, sociology, and economics to
help us better understand right from wrong. - ANS False (normative ethics is built on
theology and philosophy)
Joe Paterno was a legendary football coach at Penn State who lost his reputation because of a
lack of skill in dealing with a serious ethical issue. - ANS True
@2026 ALLRIGHTS RESERVED 1
, Theranos is a company that produces a machine that can test blood for a variety of diseases
using only a pinprick's worth of blood. - ANS False
The Vision of the BYU Marriott School is as follows: "We aspire to transform the world through
Christlike leadership." - ANS True
In his dedicatory prayer for the Bell Tower during the BYU Centennial, President Kimball prayed
that "the morality of the graduates of this university will provide the music of hope for the
inhabitants of this planet." - ANS True
In their work on ethics in organizations, Dr. Agle and his colleagues found that over 95% of all
ethical dilemmas could be found in a list of 20 dilemmas. - ANS False (there are 13 dilemma
types)
The Venn Diagram model of ethical leadership contains three dimensions: values and desires,
character, and knowledge and skills. - ANS True
It is easy to be cynical about business ethics because there are so many unethical business
people in the world. - ANS True
Many people enjoy a good standard of living because of ethical business people. - ANS True
Behavioral ethics are based in the social sciences and help us to better understand why business
people do what they do when it comes to ethics. - ANS True
Nathan left Frank's office unsure of what to do. Frank, the managing partner of the firm, had
just asked him to file a return for a major client improperly showing zero fines or underpayment
penalties. This client was important to the firm, and especially to Frank, who had a longstanding
@2026 ALLRIGHTS RESERVED 2
ANSWERS 100% PASS 2026/2027
The three organizations we will focus on in this course are... - ANS The family, nonprofit
organizations, for-profit organizations
By using the factors of production efficiently, a company can produce more products and
services with the same resources, increasing productivity. Which of the following are considered
factors of production? - ANS Natural Resources, Labor (human resources), capital,
entrepreneurship
The term "___________" means that human needs or wants for goods, services, and resources
exceed what is available. - ANS Scarcity
Adam Smith felt that capitalism, a system of free markets, free enterprise, and private control of
property, was the ideal economy, while Karl Marx thought that a state owned and controlled
economy would be best. - ANS True
Normative ethics builds on the social sciences such as psychology, sociology, and economics to
help us better understand right from wrong. - ANS False (normative ethics is built on
theology and philosophy)
Joe Paterno was a legendary football coach at Penn State who lost his reputation because of a
lack of skill in dealing with a serious ethical issue. - ANS True
@2026 ALLRIGHTS RESERVED 1
, Theranos is a company that produces a machine that can test blood for a variety of diseases
using only a pinprick's worth of blood. - ANS False
The Vision of the BYU Marriott School is as follows: "We aspire to transform the world through
Christlike leadership." - ANS True
In his dedicatory prayer for the Bell Tower during the BYU Centennial, President Kimball prayed
that "the morality of the graduates of this university will provide the music of hope for the
inhabitants of this planet." - ANS True
In their work on ethics in organizations, Dr. Agle and his colleagues found that over 95% of all
ethical dilemmas could be found in a list of 20 dilemmas. - ANS False (there are 13 dilemma
types)
The Venn Diagram model of ethical leadership contains three dimensions: values and desires,
character, and knowledge and skills. - ANS True
It is easy to be cynical about business ethics because there are so many unethical business
people in the world. - ANS True
Many people enjoy a good standard of living because of ethical business people. - ANS True
Behavioral ethics are based in the social sciences and help us to better understand why business
people do what they do when it comes to ethics. - ANS True
Nathan left Frank's office unsure of what to do. Frank, the managing partner of the firm, had
just asked him to file a return for a major client improperly showing zero fines or underpayment
penalties. This client was important to the firm, and especially to Frank, who had a longstanding
@2026 ALLRIGHTS RESERVED 2
