Question 1

Which of the following laws has the purpose of protecting competition?

Accepted Answer

A)   Lanham Act
B)   Federal Trade Commission Act
C)   Fair Trade Act
D)   Unfair Practices Act
E)   Sherman Antitrust ActF) B) and D)
G) B) and E)

Question 2

In the private purchase of a used or "pre-owned" car,__________ places the burden on the buyer to make sure the car is worth the purchase price,so it is advisable to take the car first to a mechanic.Once the transaction is complete the buyer typically will not receive a warranty or return option from the seller.

Accepted Answer

A)   modus operandi
B)   caveat emptor
C)   de facto marketing
D)   ćest la vie
E)   anguis in herbaF) A) and E)
G) None of the above

Question 3

The Child Protection Act (1966) and the Consumer Product Safety Act (1972) are examples of

Accepted Answer

A)   pricing-related legislation.
B)   laws specifying product requirements.
C)   fair trade legislation.
D)   distribution-related legislation.
E)   government contracts with private firms.F) A) and B)
G) A) and D)

Question 4

If a brand of imported toys was found to have very high levels of lead in the paint and was recalled,the action would be necessary to protect consumers' right to

Accepted Answer

A)   safety.
B)   be informed.
C)   be heard.
D)   choose.
E)   be treated courteously.F) A) and B)
G) D) and E)

Question 5

Coke-Pepsi Photo 
-Consider the Coke-Pepsi photo.Marketing and advertising executives were asked to suppose they were a senior executive at PepsiCo when a Coca-Cola employee offered to sell you the marketing plan and sample for a new Coke product at a modest price.When asked in an online survey,__________ percent of the executives said they would buy the plan and product sample if there were no repercussions.

Accepted Answer

A)   15
B)   36
C)   52
D)   67
E)   89F) A) and C)
G) C) and D)

Question 6

An information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunications technologies and digital offerings is referred to as

Accepted Answer

A)   Internet marketing.
B)   marketspace.
C)   electronic commerce.
D)   marketplace.
E)   e-exchange.F) C) and E)
G) B) and D) B

Question 7

Which of the following statements about social responsibility is most accurate?

Accepted Answer

A)   The three concepts of social responsibility are economic responsibility, internal social responsibility, and external social responsibility.
B)   Organizations are part of a larger society and are accountable to that society for their actions.
C)   Societal responsibility focuses on the obligations an organization has to its customers, employees, suppliers, and distributors.
D)   The duty of an organization is most easily understood at the societal responsibility level.
E)   Social responsibility cannot be taught; it is an innate outgrowth of a person's moral and ethical belief system.F) B) and C)
G) A) and E)

Question 8

Procter & Gamble supports disadvantaged youth and provides relief after disasters strike when its customers purchase selected company products.This is an example of

Accepted Answer

A)   cause marketing.
B)   philanthropic marketing.
C)   green marketing.
D)   public relations.
E)   societal promotions.F) All of the above
G) A) and E)

Question 9

The best-known self-regulatory group is the __________,which is a voluntary alliance of companies whose goal is to help maintain fair practices.

Accepted Answer

A)   U.S. Department of Justice
B)   National Chamber of Commerce
C)   Better Business Bureau
D)   Federal Trade Commission
E)   National Federation of Independent BusinessF) B) and C)
G) A) and B)

Question 10

According to the personal moral philosophy of __________,if the benefits exceed the costs,the behavior is ethical.

Accepted Answer

A)   hedonism
B)   utilitarianism
C)   existentialism
D)   moral idealism
E)   socialismF) B) and E)
G) None of the above

Question 11

The recent large decline in __________ has caused consumers to adjust their spending in other categories.

Accepted Answer

A)   automobile prices
B)   gasoline prices
C)   interest rates
D)   consumer confidence
E)   property valuesF) All of the above
G) C) and D)

Question 12

Genzyme,the maker of Cerdelga,a drug that treats a genetic illness called Gaucher's disease that affects 10,000 people worldwide,has been criticized for charging up to $300,000 for a year's worth of Cerdelga.This is an example of the manufacturer adhering to its

Accepted Answer

A)   utopian responsibility.
B)   moral idealism.
C)   social responsibility.
D)   cause marketing strategy.
E)   profit responsibility.F) A) and D)
G) All of the above

Question 13

Recently,the number of people who attended music concerts,plays,and other live entertainment increased because they had the __________ to enjoy these activities.

Accepted Answer

A)   gross income
B)   bonus income
C)   profit
D)   disposable income
E)   discretionary incomeF) A) and C)
G) B) and C)

Question 14

Self-regulation refers to

Accepted Answer

A)   governmental guidelines that suggest what is legal and ethical and what is not.
B)   a self-imposed set of rules set by a specific industry watchdog group that dictates legal and ethical behaviors.
C)   an alternative to government control where an industry attempts to police itself.
D)   voluntary compliance to governmental rules and regulations set for a specific industry.
E)   a set of rules created and enforced by the FTC to which all members of an industry voluntarily agree to comply.F) B) and E)
G) A) and B)

Question 15

Electronic commerce refers to

Accepted Answer

A)   an information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunications technologies and digitized offerings.
B)   any activity that uses electronic communication in the inventory, promotion, distribution, purchase, and exchange of products and services.
C)   two-way buyer-seller electronic communication in a computer-mediated environment in which the buyer controls the kind and amount of information received from the seller.
D)   electronic storefronts that focus on converting an online browser into an online, catalog, or in-store buyer.
E)   electronic storefronts that advertise and promote a company's products and services and provide information on how items can be used and where they can be purchased.F) C) and E)
G) A) and B) B

Question 16

Body Bazaar: The Market for Human Tissue in the Biotechnology Age is a book by Lori Andrews and Dorothy Nelkin.According to the book,"Body parts are bought and sold for medical research,diagnostics,and therapies.They are marketed to museums and personal collectors.And pieces of people are increasingly being used as raw materials for products-from placenta-enriched shampoos to experimental DNA-run computers.Blood has become one of the most valuable commodities on Earth.While petroleum sells for $100 a barrel,an equivalent quantity of blood products is worth $67,000." Use this quote to explain why ethics is such a difficult concept to understand.

Accepted Answer

This example makes it obvious why ethics is such a difficult topiC Students should realize that they must weigh their personal philosophy of moral idealism-the way the remains of a loved one should be treated respectfully-with a more utilitarian philosophy,which focuses on how much can be learned from research on body parts.The cost of the blood is a supply and demand issue-just like the price of rocks compared to the price of diamonds.It is not really an ethical issuE It is included to demonstrate that subjects can be made to appear to be an ethical issue when they are not.

Question 17

In most countries,copyrights,trademarks,and patents are viewed as intellectual property,and unauthorized use,reproduction,or distribution of intellectual property is illegal.In a few countries,however,copying enjoys a long tradition,does not carry a stigma,and is legal.For example,copying a masterpiece may be historically considered an art form in its own right.The difference between these two groups of countries shows that __________ affect(s) the view of ethical behavior held in each country.

Accepted Answer

A)   business culture
B)   industry practices
C)   corporate culture
D)   corporate expectations
E)   societal culture and normsF) None of the above
G) A) and D)

Question 18

Consumerism refers to

Accepted Answer

A)   a movement of conspicuous consumption that began when World War II ended.
B)   conducting business in a way that protects the natural environment while making economic progress.
C)   a collaborative effort between buyers and sellers to create an exchange where each benefit.
D)   the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth.
E)   the grassroots movement started in the 1960s to increase the influence, power, and rights of consumers in dealing with institutions.F) A) and B)
G) A) and C)

Question 19

Brands Photo 
-In the Brands photo,the manufacturers of these products may be concerned that their brand names will become generic.The legislation most likely to address this issue is the

Accepted Answer

A)   Sherman Antitrust Act.
B)   Patent Act.
C)   Clayton Act.
D)   Lanham Act.
E)   The FTC Act.F) A) and E)
G) B) and D)

Question 20

Inventions or innovations from applied science or engineering research are referred to as

Accepted Answer

A)   scientific discoveries.
B)   theoretical development.
C)   technology.
D)   patents.
E)   dynamic engineering.F) A) and B)
G) A) and C)

Exam 3: Understanding the Marketing Environment,ethical Behavior,and Social Responsibility

Which of the following laws has the purpose of protecting competition?

Correct Answer
verified

Correct Answer
verified

The Child Protection Act (1966) and the Consumer Product Safety Act (1972) are examples of

Correct Answer
verified

If a brand of imported toys was found to have very high levels of lead in the paint and was recalled,the action would be necessary to protect consumers' right to

Correct Answer
verified

Correct Answer
verified

An information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunications technologies and digital offerings is referred to as

Correct Answer
verified
B

Which of the following statements about social responsibility is most accurate?

Correct Answer
verified

Procter & Gamble supports disadvantaged youth and provides relief after disasters strike when its customers purchase selected company products.This is an example of

Correct Answer
verified

The best-known self-regulatory group is the __________,which is a voluntary alliance of companies whose goal is to help maintain fair practices.

Correct Answer
verified

According to the personal moral philosophy of __________,if the benefits exceed the costs,the behavior is ethical.

Correct Answer
verified

The recent large decline in __________ has caused consumers to adjust their spending in other categories.

Correct Answer
verified

Genzyme,the maker of Cerdelga,a drug that treats a genetic illness called Gaucher's disease that affects 10,000 people worldwide,has been criticized for charging up to $300,000 for a year's worth of Cerdelga.This is an example of the manufacturer adhering to its

Correct Answer
verified

Recently,the number of people who attended music concerts,plays,and other live entertainment increased because they had the __________ to enjoy these activities.

Correct Answer
verified

Self-regulation refers to

Correct Answer
verified

Electronic commerce refers to

Correct Answer
verified
B

Correct Answer
verified

Consumerism refers to

Correct Answer
verified

Brands Photo -In the Brands photo,the manufacturers of these products may be concerned that their brand names will become generic.The legislation most likely to address this issue is the

Correct Answer
verified

Inventions or innovations from applied science or engineering research are referred to as

Correct Answer
verified

Exam 3: Understanding the Marketing Environment,ethical Behavior,and Social Responsibility

Which of the following laws has the purpose of protecting competition?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The Child Protection Act (1966) and the Consumer Product Safety Act (1972) are examples of

Correct AnswerverifiedShow Answer

If a brand of imported toys was found to have very high levels of lead in the paint and was recalled,the action would be necessary to protect consumers' right to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

An information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunications technologies and digital offerings is referred to as

Correct AnswerverifiedB

Which of the following statements about social responsibility is most accurate?

Correct AnswerverifiedShow Answer

Procter & Gamble supports disadvantaged youth and provides relief after disasters strike when its customers purchase selected company products.This is an example of

Correct AnswerverifiedShow Answer

The best-known self-regulatory group is the __________,which is a voluntary alliance of companies whose goal is to help maintain fair practices.

Correct AnswerverifiedShow Answer

According to the personal moral philosophy of __________,if the benefits exceed the costs,the behavior is ethical.

Correct AnswerverifiedShow Answer

The recent large decline in __________ has caused consumers to adjust their spending in other categories.

Correct AnswerverifiedShow Answer

Genzyme,the maker of Cerdelga,a drug that treats a genetic illness called Gaucher's disease that affects 10,000 people worldwide,has been criticized for charging up to $300,000 for a year's worth of Cerdelga.This is an example of the manufacturer adhering to its

Correct AnswerverifiedShow Answer

Recently,the number of people who attended music concerts,plays,and other live entertainment increased because they had the __________ to enjoy these activities.

Correct AnswerverifiedShow Answer

Self-regulation refers to

Correct AnswerverifiedShow Answer

Electronic commerce refers to

Correct AnswerverifiedB

Correct AnswerverifiedShow Answer

Consumerism refers to

Correct AnswerverifiedShow Answer

Brands Photo -In the Brands photo,the manufacturers of these products may be concerned that their brand names will become generic.The legislation most likely to address this issue is the

Correct AnswerverifiedShow Answer

Inventions or innovations from applied science or engineering research are referred to as

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
B

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
B

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified