PHI 445 Week 2 Quiz (3 Set) 1

1.         Question :        In 2007, a defense contractor was found guilty for working with a co-conspirator to submit bids with increased prices for a bulletproof vest contract so that a particular company would win the contract at a lower price. This is an example of

2.         Question :        In the late 1990s, Google, Yahoo, and MSN purchased most of the existing search engines, such as Lycros and Jeeves. Google now holds approximately a 90% share of the market. This is an example of

3.         Question :        According to Karl Marx, history is the record of

4.         Question :        Antitrust acts such as the Sherman Antitrust Act of 1980 were passed to protect against

5.         Question :        The idea that consumers buy luxury items without considering the hard labor that went into making them is part of the viewpoint of

6.         Question :        _________ claimed that if businesses were allowed to follow their own self-interest, the economy of the country would improve.

7.         Question :        One feature of a corporation is that it can continue indefinitely beyond the lives of individual managers and stockholders of the corporation. This is called

8.         Question :        When a company’s leaders have the illusion of invulnerability that causes them to underestimate factors that lead to failure, this is an example of:

9.         Question :        States have the authority to grant corporate charters, which give permission for corporations to exist. When a state decides to revoke a corporation’s charter because of some egregious crime, this is called corporate

10.       Question :        Which of the following is not a business structure recognized by the U.S. Internal Revenue Service?

11.       Question :        According to economist Milton Friedman

12.       Question :        You are a shareholder in a corporation that filed bankruptcy. The liabilities will be more than the assets. What you will be required to pay will be based on

PHI 445 Week 2 Quiz (3 Set) 2

1.         Question :        According to Karl Marx, history is the record of

2.         Question :        Which of the following statements is a criticism of capitalism?

3.         Question :        In 2007, a defense contractor was found guilty for working with a co-conspirator to submit bids with increased prices for a bulletproof vest contract so that a particular company would win the contract at a lower price. This is an example of

4.         Question :        In 2001, the government said it would sue to stop the 4.3 billion dollar merger of American Airlines and U.S. Airways that would create the world’s largest airline. The government was concerned that the merger would create a(an) ____________ .

5.         Question :        One justification for government regulation of commerce is to

6.         Question :        A few years ago, the Bolivian government leased water rights in some of the country’s poor, drought-stricken regions to private companies, including the U.S. engineering company Bechtel. Shortly after Bechtel took control in one area, water prices tripled, sparking protests. The privatization of water is an example of

7.         Question :        In 2010, the group United Students Against Sweatshops campaigned against the Fruit of the Loom Company because the company had closed a Honduras plant because it unionized. The result was 1,200 lost jobs. The student campaign cost the company $50 million in lost contracts with U.S. and British colleges. The company eventually reopened the factory and paid $2.5 million in compensation to the workers. This is an example of consumer

8.         Question :        One feature of a corporation is that it can continue indefinitely beyond the lives of individual managers and stockholders of the corporation. This is called

9.         Question :        You are a shareholder in a corporation that filed bankruptcy. The liabilities will be more than the assets. What you will be required to pay will be based on

10.       Question :        Which of the following statements is true about strategic misrepresentation?

11.       Question :        The Triple Bottom Line approach measures the success of sustainable businesses in terms of

12.       Question :        The idea that corporations can be moral agents holds that

PHI 445 Week 2 Quiz (3 Set)

1.         Question :        The viewpoint that business should be privately controlled and not controlled by the government is a perspective of a ________ economy.

2.         Question :        After Superstorm Sandy hit New Jersey, some businesses such as gasoline stations and car repair stores raised prices to bring in windfall profits off desperate customers. This is an example of price

3.         Question :        When competitors agree to maintain prices at a certain level, this is called

4.         Question :        Welfare capitalism and _________ are more modern versions of capitalism and socialism.

5.         Question :        One of the main ideas of The Communist Manifesto is that the proletariat

6.         Question :        A few years ago, the Bolivian government leased water rights in some of the country’s poor, drought-stricken regions to private companies, including the U.S. engineering company Bechtel. Shortly after Bechtel took control in one area, water prices tripled, sparking protests. The privatization of water is an example of

7.         Question :        Which of the following is not a business structure recognized by the U.S. Internal Revenue Service?

8.         Question :        One of the main advantages of a corporation is

9.         Question :        When a company pleads guilty to a crime and the government orders it to publish an apology, that is an example of

10.       Question :        You are a shareholder in a corporation that filed bankruptcy. The liabilities will be more than the assets. What you will be required to pay will be based on

11.       Question :        When two doctors decide to share office space for their medical practices, they have formed a(an)

12.       Question :        Rehabilitation, retribution, and ________ are reasons that society has for punishing individuals for crimes.

Read:PHI 445 Week 2 Discussion Capitalism and Socialism Case Study: Uber Updated