Quiz Based On The Business And Society Journal (Spring 2009)

195 Questions | By Marcosbarrera | Last updated: Mar 21, 2022 | Total Attempts: 202

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Quiz Based On The Business And Society Journal (Spring 2009) - Quiz

Business and Society (Spring 2009) Chapter 1, 2, 3

Questions and Answers

1.

ARCO, Chevron, and Mobil are all descendents of the 1911 breakup of the Standard Oil Trust.
- A.
  
  True
- B.
  
  False
2.

ExxonMobil today has a centralized and authoritarian structure.
- A.
  
  True
- B.
  
  False
3.

Profit is an overriding goal at ExxonMobil today.
- A.
  
  True
- B.
  
  False
4.

Fadel Gheit, a former employee of ExxonMobil, is quoted in an April 2007 Fortune magazine article as saying that ExxonMobil "is not a fun place to work."
- A.
  
  True
- B.
  
  False
5.

According to the text, the advent of the market economy reshaped human life.
- A.
  
  True
- B.
  
  False
6.

According to Adam Smith, the ceaseless tendency of markets was to make commodities cheaper, better, and more available.
- A.
  
  True
- B.
  
  False
7.

Through markets that harnessed the constant energy of greed for the public welfare, Adam Smith believed that nations would achieve universal opulence.
- A.
  
  True
- B.
  
  False
8.

The prescriptive dimension of the market capitalism model led to the rise of the economic philosophy known as laissez-faire.
- A.
  
  True
- B.
  
  False
9.

People who embraced the economic philosophy of laissez-faire believed that government intervention in (regulation of) markets (and market participants) is unnecessary because market forces are benevolent and, if liberated, will channel economic resources to meet society's needs.
- A.
  
  True
- B.
  
  False
10.

People who embraced the economic philosophy of laissez-faire believed that, if free competition exists, the market will hold profits to a minimum and the quality of products and services will rise as firms try to attract more buyers.
- A.
  
  True
- B.
  
  False
11.

The four conclusions that the market capitalism model leads us to about what the BGS relationship should be like have shaped economic values in the industrialized West.
- A.
  
  True
- B.
  
  False
12.

Critics of capitalism claim that capitalism creates prosperity only at the cost of rising inequality.
- A.
  
  True
- B.
  
  False
13.

Some critics of capitalism and the market capitalism model believe that capitalism erodes virtue.
- A.
  
  True
- B.
  
  False
14.

In his later years, Adam Smith grew to see more need for government intervention in markets.
- A.
  
  True
- B.
  
  False
15.

Marxism, an ideology opposed to industrial capitalism, emerged in Europe about the same time as the American and Japanese populist movements.
- A.
  
  True
- B.
  
  False
16.

The stakeholder model reorders the priorities of management away from those in the market capitalism model.
- A.
  
  True
- B.
  
  False
17.

In the stakeholder model, stakeholder interests have intrinsic worth.
- A.
  
  True
- B.
  
  False
18.

Stakeholder management creates duties toward multiple constituents of the corporation.
- A.
  
  True
- B.
  
  False
19.

ExxonMobil descends from
- A.
  
  the Standard Oil Trust, incorporated in 1882.
- B.
  
  The Exxon Petrochemical corporation, incorporated in 1942.
- C.
  
  The Mobil Manufacturing Company, incorporated in 1962.
- D.
  
  The Exxon Valdez Corporation, incorporated in Alaska in 1972.
20.

According to the chapter opener vignette on page 1, a company's "culture" consists of
- A.
  
  The stories and myths that are passed on from generation to generation by the employees of the company.
- B.
  
  The attitudes and strategies of a company's employees.
- C.
  
  the shared assumptions, both spoken and unspoken, that animate the company's employees.
- D.
  
  All of the above.
21.

According to the chapter opener vignette, Standard Oil once had more than _____ percent of the American oil market.
- A.
  
  60
- B.
  
  70
- C.
  
  80
- D.
  
  90
22.

Standard Oil's power so offended public values that in 1890
- A.
  
  Over 90% of its employees engaged in a walk-out that shut down production for a week.
- B.
  
  9 out of 10 people surveyed said they thought the government should do something about it.
- C.
  
  Congress pass the Sherman Antitrust Act to outlaw its (particular kind of) monopoly.
- D.
  
  All of the above.
23.

Today, ExxonMobil pumps about ____ percent of the world's daily output of oil.
- A.
  
  8
- B.
  
  12
- C.
  
  16
- D.
  
  20
24.

In the United States alone, approximately ______ federal agencies and bureaus impose rules and standards on ExxonMobil.
- A.
  
  50
- B.
  
  100
- C.
  
  150
- D.
  
  200
25.

For years, ExxonMobil has agitated environmentalists by
- A.
  
  Paying dictators for access to oil.
- B.
  
  Allowing Indonesian troops to guard its facilities against rebel attack, who occasionally attack area natives sympathetic to the rebels.
- C.
  
  rejecting the scientific case for global warming.
- D.
  
  All of the above.