Quiz Based On The Business And Society Journal (Spring 2009)
195 Questions
| Total Attempts: 194
Business and Society (Spring 2009) Chapter 1, 2, 3
Questions and Answers
- 1.ExxonMobil is the among three largest publicly traded international oil companies.
- A.
True
- B.
False
- 2.ARCO, Chevron, and Mobil are all descendents of the 1911 breakup of the Standard Oil Trust.
- A.
True
- B.
False
- 3.ExxonMobil today has a centralized and authoritarian structure.
- A.
True
- B.
False
- 4.Profit is an overriding goal at ExxonMobil today.
- A.
True
- B.
False
- 5.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
- 6.According to the text, the advent of the market economy reshaped human life.
- A.
True
- B.
False
- 7.According to Adam Smith, the ceaseless tendency of markets was to make commodities cheaper, better, and more available.
- A.
True
- B.
False
- 8.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
- 9.The prescriptive dimension of the market capitalism model led to the rise of the economic philosophy known as laissez-faire.
- A.
True
- B.
False
- 10.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
- 11.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
- 12.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
- 13.Critics of capitalism claim that capitalism creates prosperity only at the cost of rising inequality.
- A.
True
- B.
False
- 14.Some critics of capitalism and the market capitalism model believe that capitalism erodes virtue.
- A.
True
- B.
False
- 15.In his later years, Adam Smith grew to see more need for government intervention in markets.
- A.
True
- B.
False
- 16.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
- 17.The stakeholder model reorders the priorities of management away from those in the market capitalism model.
- A.
True
- B.
False
- 18.In the stakeholder model, stakeholder interests have intrinsic worth.
- A.
True
- B.
False
- 19.Stakeholder management creates duties toward multiple constituents of the corporation.
- A.
True
- B.
False
- 20.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.
- 21.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.
- 22.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
- 23.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.
- 24.Today, ExxonMobil pumps about ____ percent of the world's daily output of oil.
- A.
8
- B.
12
- C.
16
- D.
20
- 25.In the United States alone, approximately ______ federal agencies and bureaus impose rules and standards on ExxonMobil.
- A.
50
- B.
100
- C.
150
- D.
200
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