Ashworth C06 BUSINESS ETHICS exam 5

Question

Ashworth C06 BUSINESS ETHICS exam 5

Question # 00093856 Posted By: echo7 Updated on: 08/18/2015 03:46 PM Due on: 09/17/2015

Subject Business Topic General Business Tutorials:

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Part 1 of 2 - Lesson 4 Questions 37.5/ 50.0 Points

Question 1 of 40

0.0/ 2.5 Points

Which view regarding oligopolies argues that oligopolies should not be broken up because they provide benefits, which do not exist in a more decentralized market?

A. the Antitrust view
B. the Do-nothing view
C. the Regulation view
D. none of the above

Question 2 of 40

2.5/ 2.5 Points

Which of the following are characteristics of a perfectly free economy?

A. There are numerous buyers and sellers, none of whom has a substantial share of the market.
B. All buyers and sellers can freely and immediately enter or leave the market.
C. Every buyer and seller has full and perfect knowledge of what every other buyer and seller is doing, including knowledge of the prices, quantities, and quality of all goods being bought and sold.
D. All the above

Question 3 of 40

2.5/ 2.5 Points

When companies get together to fix prices, the result is __________.

A. a consortium of suppliers
B. an oligopoly
C. a monopoly
D. none of the above

Question 4 of 40

2.5/ 2.5 Points

In a monopoly, how many sellers are there?

A. There is a relatively small number of large firms controlling the market.
B. There is only one seller, but other sellers can enter the market.
C. There are many sellers, so new sellers cannot enter the market.
D. There is only one seller, and new sellers cannot enter the market.

Question 5 of 40

2.5/ 2.5 Points

Which of the following is the term for a situation in which firms limit their output?

A. market allocation
B. bid rigging
C. exclusive dealing arrangements
D. manipulation of supply

Question 6 of 40

2.5/ 2.5 Points

Which of the following is the term for a situation in which manufacturers sell to a firm only if the firm agrees not to purchase from competing manufacturers?

A. retail price maintenance agreements
B. bid rigging
C. exclusive dealing arrangements
D. price discrimination

Question 7 of 40

2.5/ 2.5 Points

Imagine that Joe and Sarah both own competing lemonade stands. It costs 50 cents to make a lemonade, so Joe and Sarah both charge customers $1 for a glass of lemonade. In an attempt to run Joe out of business, Sarah begins charging 25 cents for lemonade so that Joe cannot compete. This is an example of what?

A. tying arrangements
B. incentivization
C. exclusive dealing arrangements
D. predatory price discrimination

Question 8 of 40

0.0/ 2.5 Points

Which of the following is NOT a feature of a perfectly competitive free market?

A. All buyers and sellers are utility maximizers.
B. Buyers and sellers do not have knowledge of what every other buyer and seller is doing.
C. Goods being sold in the market are extremely similar.
D. No external parties regulate the price.

Question 9 of 40

2.5/ 2.5 Points

What is the most obvious failure of monopoly markets?

A. the damage to the environment
B. the high prices they allow the monopoly companies to charge
C. the inequalities between employees and executives
D. monopoly markets have no real failures

Question 10 of 40

2.5/ 2.5 Points

In a monopoly market, __________.

A. the seller has the power to set quantity and price of its products
B. no external parties regulate the price of its products
C. all buyers and sellers can freely and immediately enter or leave the market
D. there are low barriers to entry

Question 11 of 40

0.0/ 2.5 Points

Which view regarding oligopolies argues that “big is good” due to the globalization of business?

A. the Antitrust view
B. the Do-nothing view
C. the Regulation view
D. none of the above

Question 12 of 40

2.5/ 2.5 Points

When a company sells a buyer certain goods only on condition that the buyer also purchases other goods from the firm, this is known as __________.

A. manipulation of supply
B. exclusive dealing arrangements
C. price discrimination
D. tying arrangement

Question 13 of 40

0.0/ 2.5 Points

What is necessary for free competitive markets?

A. an enforceable private property system
B. government regulations
C. fair prices
D. a physical place to do business

Question 14 of 40

2.5/ 2.5 Points

Which of the following is the term for a situation in which a firm only sells a certain good if the buyer purchases another good?

A. tying arrangements
B. incentivization
C. exclusive dealing arrangements
D. predatory price discrimination

Question 15 of 40

2.5/ 2.5 Points

In a perfectly free competitive market, __________.

A. no buyer or seller has the power to significantly affect the price of a good
B. the most influential buyers or sellers have the power to affect the price of a good
C. the majority of buyers or sellers have the power to affect the price of a good
D. only buyers have the power to significantly affect the price of a good

Question 16 of 40

2.5/ 2.5 Points

What is the “network effect” barrier to entry into a market?

A. when the value of a product goes down as the number of users increases
B. when a product becomes more difficult to supply as the number of users increases
C. when the value of a product goes up as the number of users increases
D. when the value of a product goes up as the number of users decreases

Question 17 of 40

2.5/ 2.5 Points

The common definition of price fixing is __________.

A. when companies agree to set prices artificially high
B. when companies agree to limit production
C. when a company sells a buyer certain goods only on condition that the buyer also purchases other goods from the firm
D. when companies agree to limit production

Question 18 of 40

2.5/ 2.5 Points

In a perfectly free economy, all buyers and sellers are what?

A. utility users
B. utility creators
C. utility maximizers
D. utility diminishers

Question 19 of 40

2.5/ 2.5 Points

Which of the following is the term for a situation in which manufacturers sell to firms only if the firms charge a certain price for the goods?

A. retail price maintenance agreements
B. bid rigging
C. exclusive dealing arrangements
D. price discrimination

Question 20 of 40

0.0/ 2.5 Points

An oil company is expanding, but no new oil fields are available. They therefore must resort to the expensive and less-efficient practice of extracting petroleum from oil sands. This is known as __________.

A. the principle of increasing marginal cost
B. the principle of gross marginal utility
C. the principle of diminishing marginal utility
D. the principle of increasing marginal utility

Part 2 of 2 - 40.0/ 50.0 Points

Question 21 of 40

2.5/ 2.5 Points

The undesirable and unintended contamination of the environment because of the manufacture or use of commodities is commonly referred to as __________.

A. resource depletion
B. pollution
C. degradation
D. contamination

Question 22 of 40

0.0/ 2.5 Points

Why should we protect the environment, according to ecological ethics?

A. for our future generations to enjoy
B. to prevent the depletion of our resources
C. for the sake of the environment itself
D. for the preservation of our species

Question 23 of 40

0.0/ 2.5 Points

Acid rain is caused by __________.

A. global warming
B. fossil fuels
C. airborne toxins
D. none of the above

Question 24 of 40

2.5/ 2.5 Points

When is the hole in the stratospheric ozone layer over the Antarctic expected to recover?

A. between 2060 and 2075
B. between 2016 and 2020
C. between 2100 and 2200
D. never

Question 25 of 40

2.5/ 2.5 Points

Which of the following can occur as a result of global warming?

A. famine
B. floods
C. drought
D. all of the above

Question 26 of 40

2.5/ 2.5 Points

What is Blackstone’s theory of environmental rights?

A. All organisms have a right to life, and we have a duty to protect their environment.
B. Humans have a duty to ensure a livable environment because we each have a right to a livable environment.
C. Environmental protection is necessary for the continuation of the species, and all other concerns are secondary.
D. The only way to protect the environment is through political change.

Question 27 of 40

2.5/ 2.5 Points

Which approach to pollution says that we should get rid of social systems of hierarchy and domination?

A. ecofeminism
B. ethic of care
C. precautionary principle
D. social ecology

Question 28 of 40

2.5/ 2.5 Points

What is the term for the view that protecting the environment is important because it harms human beings?

A. ecocentrism
B. anthropocentrism
C. exocentrism
D. biocentrism

Question 29 of 40

2.5/ 2.5 Points

What is the term for the sum total internal and external costs of an economic activity?

A. private cost
B. social cost
C. economic cost
D. associated cost

Question 30 of 40

2.5/ 2.5 Points

“If you cut down a tree, plant a tree” is an example of what?

A. precautionary principle
B. conservation based on justice to future generations
C. ecocentrism
D. anthropocentrism

Question 31 of 40

2.5/ 2.5 Points

Which species was in danger due to drilling of natural gas wells on the Pinedale Mesa?

A. mule deer
B. bighorn sheep
C. sage grouse
D. all of the above

Question 32 of 40

2.5/ 2.5 Points

Which of the following is not a greenhouse gas?

A. carbon dioxide
B. methane
C. nitrogen
D. nitrous oxide

Question 33 of 40

0.0/ 2.5 Points

Which of the following is not an argument against attributing rights to future generations?

A. Future generations will have better technology to solve their problems.
B. We do not know what interests future generations will have, or what rights they have.
C. Future generations may not exist.
D. If future generations have rights, everyone in the present must always sacrifice for them.

Question 34 of 40

2.5/ 2.5 Points

Ozone depletion is a serious threat to our survival; which gases are extremely harmful to the ozone layer?

A. carbon dioxide
B. nitrogen
C. chlorofluorocarbons
D. hydrocarbons

Question 35 of 40

0.0/ 2.5 Points

According to your textbook, what remedy for covering the external cost of pollution is the most fair and just?

A. Make everyone pay a small amount to cover the costs.
B. Internalize the costs of pollution.
C. Shift production to a less populated area.
D. Reduce production so that the external costs are lessened.

Question 36 of 40

2.5/ 2.5 Points

Current estimates suggest that to halt increase in levels of greenhouse gases in the atmosphere, we would have to reduce emissions by what percentage?

A. 80-90%
B. 10-20%
C. 60-70%
D. 5-10%

Question 37 of 40

2.5/ 2.5 Points

How does carbon dioxide contribute to global warming?

A. It is less dense, leaving less space in the atmosphere for oxygen.
B. It absorbs heat from the sun, preventing it from escaping into space.
C. It is created during combustion, which is an exothermic process that collectively heats up the earth.
D. Carbon dioxide does not contribute to global warming.

Question 38 of 40

2.5/ 2.5 Points

The release of CFCs into the atmosphere may lead to several hundred thousand new cases of skin cancer each year and destroy many valuable food crops. Also, ocean plankton—on which the entire ocean’s food chain depends—may be severely damaged. This is referred to as __________.

A. resource depletion
B. ozone depletion
C. environment depletion
D. contamination continuance

Question 39 of 40

2.5/ 2.5 Points

What is the term for the cost an individual or company must pay out of their own pocket for an economic activity?

A. private cost
B. social cost
C. economic cost
D. associated cost

Question 40 of 40

2.5/ 2.5 Points

What is a good way for a business to determine the level of pollution control/removal?

A. Survey public opinion to find out what people think is a good amount.
B. Consult with environmental scientists to determine the effects of the pollution.
C. Do a cost-benefit analysis to determine the cost of removal versus benefits of removal.
D. Remove all pollution, because zero pollution is achievable with enough cost.

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Solution: Ashworth C06 BUSINESS ETHICS exam 5

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Ashworth C06 BUSINESS ETHICS exam 5

Part 1 of 2 - Lesson 4 Questions37.5/ 50.0 Points

Question 1 of 40

Question 2 of 40

Question 3 of 40

Question 4 of 40

Question 5 of 40

Question 6 of 40

Question 7 of 40

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Question 9 of 40

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Part 2 of 2 -40.0/ 50.0 Points

Question 21 of 40

Question 22 of 40

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Question 26 of 40

Question 27 of 40

Question 28 of 40

Question 29 of 40

Question 30 of 40

Question 31 of 40

Question 32 of 40

Question 33 of 40

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Question 36 of 40

Question 37 of 40

Question 38 of 40

Question 39 of 40

Question 40 of 40

Solution: Ashworth C06 BUSINESS ETHICS exam 5

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Part 1 of 2 - Lesson 4 Questions 37.5/ 50.0 Points

Part 2 of 2 - 40.0/ 50.0 Points