Question 4 (1 point) A corporation demonstrating that it considers its role in, and complete impact on, society and the environment as well as its economic influence is called: a Corporate citizenship b Ethics of business c Triple bottom line d Corporate social responsibility (CSR) e Corporate sustainability (CS) Question 5 (1 point) Explain how integrity applies to business students. Your answer: Question 6 (1 point) Social media has enabled society to hold business: a to a lower ethical standard b less accountable c more accountable d responsible to stakeholders for profits e responsible to the government for sustainability initiatives Question 7 (1 point) For a business to be legitimate, the business enterprise system must report positive profits and pay dividends to shareholders on a consistent basis. True False Question 8 (1 point) The privilege of operating in society with minimal formalized restrictions, based on maintaining public trust is called: a Social Preference b Legitimacy c Social Licence d Relevancy e Righteousness Question 9 (1 point) Which of the following ethicists wrote that leadership can create opportunities for all to realize their potential? a Plato b Smith c Bentham d Aristotle e Kant Question 10 (1 point) Integrity refers to the appropriateness of a corporation's behaviour, not to its adherence to moral principles. True False Question 11 (1 point) Compare and contrast family capitalism with frontier capitalism. Your answer: Question 12 (1 point) Government involvement in the market, for reasons other than laws relating to contractual arrangements, is considered to weaken efficiency. True False Question 13 (1 point) Which of the following statements accurately reflects one view of the work ethic of the Millennials? a They are difficult to manage. b They have a tendency to plagiarize. c The Net Generation of workers is spoiled and lazy. d All of the statements accurately reflect one view of today's Millennials' workforce. e The Millennials spend too much time social networking. Question 14 (1 point) JKM Corporation has decided to relocate its factory to a remote, rural location. The current employees are dismayed and are asking their employee to reconsider. JKM states that they can and will relocate their business wherever they choose. JKM Corporation is asserting which fundamental element of capitalism? a Equality of opportunity b Profit maximization c Right to personal property d Individualism and Economic freedom e Competition Question 15 (1 point) It is argued that the private system is less cumbersome and less costly to run than a centralized, government-operated system, and that it is more responsive to society's needs because it allows individuals and business corporations to be more innovative. True False Question 16 (1 point) Canada, the United States, Great Britain, and Australia practice which of the following forms of capitalism? a Conventional b Family c Liberal market d Garrison e Frontier Question 17 (1 point) State capitalism involves market manipulation. True False Question 18 (1 point) What was the role of equality of opportunity in the early development of Canada as a nation? Your answer: Question 19 (1 point) Driving to university on Monday morning, Mary noticed that all the gasoline retail stations she passed were selling gasoline at exactly the same price, right down to the decimal point. There are very few sellers of gasoline in her city and they set the price at comparable levels. This is an example of: a competition. b oligopoly. c monopoly. d profit. e price-fixing. Question 20 (1 point) "It's my land!" exclaimed the farmer, responding to the environmentalists. "If I want to cut down every single tree on it, this is my right." The farmer is claiming the fundamental right of capitalismthe right of private property. True False