C717 BUSINESS ETHICS QUESTIONS AND VERIFIED
ANSWERS
Challenges to the utilitarian defense of the economic model of corporate social
responsibility focus on the appropriateness of the goal of ensuring maximum
satisfaction of consumer demands as - Answers - legitimate ethical goals
A variety of situations in which the pursuit of profit will not result in a net increase in
consumer satisfaction are known as - Answers - Market failures
Externalities , such as pollution and resource depletion , provide examples of market
failures as they - Answers - give cases of efficiently functioning markets failing to
achieve optimal results
Due to the absence of a pricing mechanism in markets , there is no guarantee that
markets result in - Answers - the optimal satisfaction of the public interest in regards to
public goods
Following Adam Smith , the economic model of corporate social responsibility argues
that the best means for attaining the ethical goal of maximizing happiness by adopting a
economic system . - Answers - O free market
Challenges to the utilitarian defense of the economic model of corporate social
responsibility focus on . - Answers - the adequacy of free markets as means to the ends
of maximally satisfying consumer demand
Which of the following are examples of situations in which cooperation has a more
optimal outcome than competition ? - Answers - Prisoners ' dilemma cases
Certain situations are called market failures because in such cases markets - Answers -
fail to do what they were designed to do
The costs of externalities , borne by parties who are not a part of the exchange between
seller and buyer , cause - Answers - the exchange price to show an inabalance between
true costs and benefits
Without an economic price of public goods , markets will have no means to - Answers -
ensure that goods get allocated to those who most value them
Which of the following is true of the economic model of corporate social responsibility ?
- Answers - The goal of business should be to maximize profits within the law .
ANSWERS
Challenges to the utilitarian defense of the economic model of corporate social
responsibility focus on the appropriateness of the goal of ensuring maximum
satisfaction of consumer demands as - Answers - legitimate ethical goals
A variety of situations in which the pursuit of profit will not result in a net increase in
consumer satisfaction are known as - Answers - Market failures
Externalities , such as pollution and resource depletion , provide examples of market
failures as they - Answers - give cases of efficiently functioning markets failing to
achieve optimal results
Due to the absence of a pricing mechanism in markets , there is no guarantee that
markets result in - Answers - the optimal satisfaction of the public interest in regards to
public goods
Following Adam Smith , the economic model of corporate social responsibility argues
that the best means for attaining the ethical goal of maximizing happiness by adopting a
economic system . - Answers - O free market
Challenges to the utilitarian defense of the economic model of corporate social
responsibility focus on . - Answers - the adequacy of free markets as means to the ends
of maximally satisfying consumer demand
Which of the following are examples of situations in which cooperation has a more
optimal outcome than competition ? - Answers - Prisoners ' dilemma cases
Certain situations are called market failures because in such cases markets - Answers -
fail to do what they were designed to do
The costs of externalities , borne by parties who are not a part of the exchange between
seller and buyer , cause - Answers - the exchange price to show an inabalance between
true costs and benefits
Without an economic price of public goods , markets will have no means to - Answers -
ensure that goods get allocated to those who most value them
Which of the following is true of the economic model of corporate social responsibility ?
- Answers - The goal of business should be to maximize profits within the law .
