Social Responsibiity- Chapter 4

30 Questions | By Jfoisy | Updated: Mar 17, 2022 | Attempts: 257

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Social responsibility is the term given to the ethical framework that suggests that an individual or organisation has an obligation to act for the benefit of society as a whole. What do you know about the concept?

Questions and Answers

1.

Lumber is a non-renewable resource
- A.
  
  True
- B.
  
  False
2.

OSHA is a federal agency that regulates workplace safety standards
- A.
  
  True
- B.
  
  False
3.

Principles of mortality or rules of conduct are called ethics.
- A.
  
  True
- B.
  
  False
4.

Your computer is an example of intellectual property.
- A.
  
  True
- B.
  
  False
5.

The US government does not play a major role in the American economy.
- A.
  
  True
- B.
  
  False
6.

A trademark is a word, letter, or symbol linked with a specific company or product.
- A.
  
  True
- B.
  
  False
7.

Most goods and services you use are provided by the US government.
- A.
  
  True
- B.
  
  False
8.

All public utility companies are owned and operated by state governments.
- A.
  
  True
- B.
  
  False
9.

A monopoly exists when a business has control of the market for a product or service.
- A.
  
  True
- B.
  
  False
10.

Government income is called revenue.
- A.
  
  True
- B.
  
  False
11.

Removing workplace barriers for women and accommodating employees who are physically challenged are ways a business can contribute to
- A.
  
  Environmental protection
- B.
  
  Job safety
- C.
  
  Workplace diversity
- D.
  
  Employee wellness
12.

All of the following are benefits of socially responsible activities EXCEPT
- A.
  
  Enhanced company image
- B.
  
  Money spent for wellness program may reduce company profits
- C.
  
  Reduced need for government regulations
- D.
  
  Improved quality of life
13.

A set of rules guiding the actions of employees is called a(n)
- A.
  
  Code of ethics
- B.
  
  Mission statement
- C.
  
  Organization chart
- D.
  
  Statement of purpose
14.

Government is mainly concerned with all of the following EXCEPT
- A.
  
  Raising revenue
- B.
  
  Buying goods and services
- C.
  
  Hiring private sector workers
- D.
  
  Regulating utilities
15.

Contracts
- A.
  
  Must be wrtten to be valid
- B.
  
  Can be entered into by any two US citizens
- C.
  
  Need not be accepted to be valid
- D.
  
  Must be for a product or service that can be legally sold
16.

Copyright protection lasts for
- A.
  
  The life of the copyright holder, plus 70 years after his death
- B.
  
  The life of the copyright holder
- C.
  
  20 years
- D.
  
  50 years
17.

An example of a public utility would be
- A.
  
  Professional baseball team
- B.
  
  Fire department
- C.
  
  Insurance company
- D.
  
  Electric company
18.

Government atttempts to prevent monopolies with
- A.
  
  Free trade zones
- B.
  
  Anti-trust laws
- C.
  
  Right to work laws
- D.
  
  Enterpise zones
19.

The single largest employer in the US economy is
- A.
  
  Microsoft
- B.
  
  Walmart
- C.
  
  State, local and federal government
- D.
  
  McDonalds
20.

The tax levied on the money you earn at your job is called
- A.
  
  Luxury tax
- B.
  
  Income tax
- C.
  
  Sales tax
- D.
  
  Inheritance tax
21.

Business dealings involving companies in more than one state
- A.
  
  Interstate commerce
- B.
  
  Intrastate commerce
- C.
  
  Conditions of work
- D.
  
  Contract
22.

Saving scarce natural resources
- A.
  
  Contract
- B.
  
  Condition of work
- C.
  
  Conservation
- D.
  
  Callibration
23.

Gives the inventor sole right to make, use, or sell an item for 17 years
- A.
  
  Copyright
- B.
  
  Patent
- C.
  
  Logo
- D.
  
  Trademark
24.

A tax levied on the value of land and buildings
- A.
  
  Sales tax
- B.
  
  Property tax
- C.
  
  Gift tax
- D.
  
  Estate tax
25.

A tax levied on goods and services that is collected by the seller
- A.
  
  Property tax
- B.
  
  Sales tax
- C.
  
  Income tax
- D.
  
  Unemployment tax