Question 1

The business power wielded by an individual firm is known as

Accepted Answer

A)   macro level power.
B)   intermediate level power.
C)   micro level power.
D)   individual level power.

Question 2

The social contract in the modern era is changing rapidly and dramatically.

Accepted Answer

A) True 
 B)False

Question 3

The set of reciprocal understandings that characterize the relationships between major social institutions is called the

Accepted Answer

A)   implied contract.
B)   unilateral binding accord.
C)   social contract.
D)   procedural justice agreement.

Question 4

Which of the following is not a sphere of power indicated in the text?

Accepted Answer

A)   economic
B)   technological
C)   political
D)   intermediate

Question 5

Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it.
-Using the managerial approach discussed in the textbook, discuss the topic of ecological damage and sustainability as they relate to business.

Accepted Answer

Students' level of knowledge regarding environmental issues will vary widely. At a minimum, they should recognize that business plays a large role in the creation of the pollution that degrades the environment. With this in mind, they should explore potential conflicts between profits and pollution control efforts, the effects that ecological damage has on various stakeholders, and the implications for future quality of life. Students will disagree on the short-term urgency of the environmental question, but most should recognize that there are long-term sustainability issues that must be dealt with at some point. If they are not, the future of the world is in grave peril.

Question 6

Television raises our level of awareness about business in all of the following ways except

Accepted Answer

A)   news programs.
B)   prime-time programs.
C)   pay-per-view programs.
D)   commercials.

Question 7

Ethics refers to issues of right and wrong, fairness, and justice.

Accepted Answer

A) True 
 B)False

Question 8

Decentralization and diversity of power concentrations leads to

Accepted Answer

A)   anarchy.
B)   a totalitarian society.
C)   a pluralistic society.
D)   democracy.

Question 9

Technology-based advancements and progress in the applied sciences that help achieve a practical purpose is part of a firm's

Accepted Answer

A)   social environment.
B)   political environment.
C)   economic environment.
D)   technological environment.

Question 10

When a business affects the life of a member of the surrounding community without meaning to, the company has wielded

Accepted Answer

A)   coercive power.
B)   deliberate power.
C)   hidden power.
D)   unintentional power.

Question 11

Provide a short answer to each of these questions. Be sure to fully explain your answer.
-Why does discussion of the institution of business tend to focus on big business?

Accepted Answer

When we think of business, we tend to th...

Question 12

Movies are a significant source of business criticism because

Accepted Answer

A)   corporations are seen as powerful, profit-seeking enterprises that have no redeeming values.
B)   corporations are depicted as moral.
C)   corporations represent free enterprise undoomed.
D)   businesses are not greedy.

Question 13

Business interacts with only a limited number of stakeholder groups.

Accepted Answer

A) True 
 B)False  False

Question 14

Affluence refers to the level of wealth, disposable income, and standard of living of a society.

Accepted Answer

A) True 
 B)False

Question 15

The government, consumers, and members of the community are examples of

Accepted Answer

A)   stockholders.
B)   the technological environment.
C)   external stakeholders.
D)   primary stakeholders.

Question 16

Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it.
-If "rights" are the entitlement to certain life chances and freedom from certain limitations that are accorded to persons simply because they have been born and are alive, what else does the existence of rights imply?

Accepted Answer

Most students will have difficulty answe...

Question 17

Common Cause and the U.S. Chamber of Commerce are examples of general purpose interest groups.

Accepted Answer

A) True 
 B)False

Question 18

The demographics, lifestyles, and social values of a society determine the firm's

Accepted Answer

A)   social environment.
B)   economic environment.
C)   political environment.
D)   technological environment.

Question 19

Strengths of pluralism include all of the following except

Accepted Answer

A)   pursuit of self-interest.
B)   prevention of concentrations of power.
C)   a built-in set of checks and balances.
D)   maximization of freedom of expression.

Question 20

Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it.
-Choose a particular corporation and describe the power it wields in different spheres.

Accepted Answer

Obviously, each student may pick a different corporation, so generalizing here is impossible. However, as an example, Microsoft has almost complete power in its portion of the technological sphere. With well over 90 percent of the operating system market, Microsoft virtually controls this aspect of computer technology. It also exerts significant political power through campaign contributions and lobbying efforts. The favorable resolution of the anti-trust case against Microsoft after the Bush administration took office is an obvious example of this power. Another major sphere in which Microsoft exerts power (more specifically the Bill and Melinda Gates Foundation) is the health arena. This foundation donates significant amounts of money to research and treatment initiatives.

Exam 1: The Business and Society Relationship.

The business power wielded by an individual firm is known as

Correct Answer
verified

The social contract in the modern era is changing rapidly and dramatically.

Correct Answer
verified

The set of reciprocal understandings that characterize the relationships between major social institutions is called the

Correct Answer
verified

Which of the following is not a sphere of power indicated in the text?

Correct Answer
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Television raises our level of awareness about business in all of the following ways except

Correct Answer
verified

Ethics refers to issues of right and wrong, fairness, and justice.

Correct Answer
verified

Decentralization and diversity of power concentrations leads to

Correct Answer
verified

Technology-based advancements and progress in the applied sciences that help achieve a practical purpose is part of a firm's

Correct Answer
verified

When a business affects the life of a member of the surrounding community without meaning to, the company has wielded

Correct Answer
verified

Provide a short answer to each of these questions. Be sure to fully explain your answer. -Why does discussion of the institution of business tend to focus on big business?

Correct Answer
verified
When we think of business, we tend to th...
View Answer

Movies are a significant source of business criticism because

Correct Answer
verified

Business interacts with only a limited number of stakeholder groups.

Correct Answer
verified
False

Affluence refers to the level of wealth, disposable income, and standard of living of a society.

Correct Answer
verified

The government, consumers, and members of the community are examples of

Correct Answer
verified

Correct Answer
verified
Most students will have difficulty answe...
View Answer

Common Cause and the U.S. Chamber of Commerce are examples of general purpose interest groups.

Correct Answer
verified

The demographics, lifestyles, and social values of a society determine the firm's

Correct Answer
verified

Strengths of pluralism include all of the following except

Correct Answer
verified

Exam 1: The Business and Society Relationship.

The business power wielded by an individual firm is known as

Correct AnswerverifiedShow Answer

The social contract in the modern era is changing rapidly and dramatically.

Correct AnswerverifiedShow Answer

The set of reciprocal understandings that characterize the relationships between major social institutions is called the

Correct AnswerverifiedShow Answer

Which of the following is not a sphere of power indicated in the text?

Correct AnswerverifiedShow Answer

Television raises our level of awareness about business in all of the following ways except

Correct AnswerverifiedShow Answer

Ethics refers to issues of right and wrong, fairness, and justice.

Correct AnswerverifiedShow Answer

Decentralization and diversity of power concentrations leads to

Correct AnswerverifiedShow Answer

Technology-based advancements and progress in the applied sciences that help achieve a practical purpose is part of a firm's

Correct AnswerverifiedShow Answer

When a business affects the life of a member of the surrounding community without meaning to, the company has wielded

Correct AnswerverifiedShow Answer

Provide a short answer to each of these questions. Be sure to fully explain your answer. -Why does discussion of the institution of business tend to focus on big business?

Correct AnswerverifiedWhen we think of business, we tend to th...View AnswerShow Answer

Movies are a significant source of business criticism because

Correct AnswerverifiedShow Answer

Business interacts with only a limited number of stakeholder groups.

Correct AnswerverifiedFalse

Affluence refers to the level of wealth, disposable income, and standard of living of a society.

Correct AnswerverifiedShow Answer

The government, consumers, and members of the community are examples of

Correct AnswerverifiedShow Answer

Correct AnswerverifiedMost students will have difficulty answe...View AnswerShow Answer

Common Cause and the U.S. Chamber of Commerce are examples of general purpose interest groups.

Correct AnswerverifiedShow Answer

The demographics, lifestyles, and social values of a society determine the firm's

Correct AnswerverifiedShow Answer

Strengths of pluralism include all of the following except

Correct AnswerverifiedShow Answer

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When we think of business, we tend to th...
View Answer

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False

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Most students will have difficulty answe...
View Answer

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