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BUS 309 QUIZ 4 CH.4 AND CH.5

BUS 309 QUIZ 4 CH.4 AND CH.5

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Author: Christine Farr
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How many Americans believe that “if you work hard enough, you'll make it?”

Which statement accurately describes capitalism?

According to one survey of cultural values

Evidence for the idea that American manufacturing is declining is

Marxism states

Rather than strong work ethic, a common attitude is:

Which of the following historical stages of capitalism came first?

A basic premise of Adam Smith's invisible hand argument is

Karl Marx believed that

The concept of the "invisible hand" means

The profit motive

For the first time since the Industrial Revolution, less than _____ percent of the American workforce was employed by manufacturing.

The Fugger dynasty was an example of

Though many jobs are outsourced, most economists believe

An assessment of work in America is

Kenneth Arrow discussed two important situations in which profit maximization can be socially inefficient. One of these occurs when

Which of the following contributed to the more relaxed incorporation procedures of modern times?

The best statement concerning corporations is

The debate over corporate moral agency hinges on which issue?

The “rules of the game” for corporate work are intended to

Melvin Anshen suggests that there is a relationship between business and society which he termed as

Corporations differ from partnerships and other forms of business association in two ways. One of these is that

A common point of contention about corporations is

The idea that corporations are moral agents

Milton Friedman’s perspective is that the only social responsibility of a business is to

Those with a broader view concerning business obligations believe that with power comes

Which of the following is one of the three arguments in favor of narrow corporate social responsibility discussed in Chapter 5?

Adam Smith proposed that in our pursuit of economic interests we are led by

The first corporations

Most Americans believe a corporation’s top obligation is to its


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