BUSN Final Exam – Business Principles, Management, and Organizational
Concepts Study Guide
The responsibility of firms toward customers can be encouraged by specific groups of
consumers. - correct answer ✔✔TRUE
The government protects consumers by regulating the quality of some products that firms
produce. - correct answer ✔✔TRUE
deregulation results in lower prices for consumers - correct answer ✔✔TRUE
the clayton act is intended to restrict competitions - correct answer ✔✔FLASE
U.S. firms that conduct business in foreign countries are not subject to the rules enforced by the
local government - correct answer ✔✔FALSE
in recent years, stockholders have been active in trying to influence a firm's management
practices - correct answer ✔✔TRUE
an attempt by a firm to maximize social responsibility to provide products at a reasonable price
to consumers - correct answer ✔✔TRUE
in recent years, pollution laws have become less stringent - correct answer ✔✔FALSE
employees commonly sue firms for products defects or deceptive advertising - correct answer
✔✔FALSE
, marketing managers are primarily responsible for providing accurate financial information to
creditors and investors. - correct answer ✔✔FALSE
The recognition of how a firm's business decisions can affect society is its - correct answer
✔✔social responsibility
a firm's __ is measured by its stock price, which can be negatively affected by unethical business
practices: - correct answer ✔✔value
many US firms provide guidelines of behavior to employees through a code of - correct answer
✔✔responsibilities and ethics
firms can ensure responsibility to customers by - correct answer ✔✔soliciting feedback about
products.
___ represents the collective consumer demand that businesses satisfy their needs - correct
answer ✔✔consumerism
the act that that prohibits unfair methods of competition is the - correct answer ✔✔federal
trade commission act
tying agreements, binding contracts, and interlocking directorates are prohibited by the -
correct answer ✔✔clayton act
the act that prohibits mergers between firms that reduce competition within an industry is the -
correct answer ✔✔celler-kefauver act
which of the following represents legislation passed to prevent firms from entering into
agreements to set prices and avoid competition - correct answer ✔✔federal trade commission
act
Concepts Study Guide
The responsibility of firms toward customers can be encouraged by specific groups of
consumers. - correct answer ✔✔TRUE
The government protects consumers by regulating the quality of some products that firms
produce. - correct answer ✔✔TRUE
deregulation results in lower prices for consumers - correct answer ✔✔TRUE
the clayton act is intended to restrict competitions - correct answer ✔✔FLASE
U.S. firms that conduct business in foreign countries are not subject to the rules enforced by the
local government - correct answer ✔✔FALSE
in recent years, stockholders have been active in trying to influence a firm's management
practices - correct answer ✔✔TRUE
an attempt by a firm to maximize social responsibility to provide products at a reasonable price
to consumers - correct answer ✔✔TRUE
in recent years, pollution laws have become less stringent - correct answer ✔✔FALSE
employees commonly sue firms for products defects or deceptive advertising - correct answer
✔✔FALSE
, marketing managers are primarily responsible for providing accurate financial information to
creditors and investors. - correct answer ✔✔FALSE
The recognition of how a firm's business decisions can affect society is its - correct answer
✔✔social responsibility
a firm's __ is measured by its stock price, which can be negatively affected by unethical business
practices: - correct answer ✔✔value
many US firms provide guidelines of behavior to employees through a code of - correct answer
✔✔responsibilities and ethics
firms can ensure responsibility to customers by - correct answer ✔✔soliciting feedback about
products.
___ represents the collective consumer demand that businesses satisfy their needs - correct
answer ✔✔consumerism
the act that that prohibits unfair methods of competition is the - correct answer ✔✔federal
trade commission act
tying agreements, binding contracts, and interlocking directorates are prohibited by the -
correct answer ✔✔clayton act
the act that prohibits mergers between firms that reduce competition within an industry is the -
correct answer ✔✔celler-kefauver act
which of the following represents legislation passed to prevent firms from entering into
agreements to set prices and avoid competition - correct answer ✔✔federal trade commission
act
