Chapter 26 Study questions Canadian Business Law

Question 26     Consider two ways to reduce pollution--establishment of taxes on the pollution or the sale of permits to polluters. Which of the following best describes the outcome?   a Both methods can result in the same reduction of pollution, but the permits may achieve that goal with lower administrative costs. b Both methods can result in the same reduction of pollution, but the permits may achieve that goal with higher administrative costs. c The permits will allow more pollution, but both methods will have the same administrative costs. d Both methods can result in the same reduction of pollution and the same adminstrative costs.

1 a. Discuss information privacy and methods for improving the privacy of information.  Discuss information system issues that affect organizations, including the digital divide, electronic publishing, and the connection between the workplace and employees’ health.  Describe green computing and the ways it can improve the quality of the environment.

Question 20     “Lemon Laws” in many areas allow purchasers of used cars to return the cars within six months if they discover problems with the cars. Why might these laws help markets for used cars be more efficient than if the laws did not exist?   a They take away the difference in the information that buyers and sellers have about used cars by giving buyers enough time to find out the true condition of the car. b They create a public good by providing information about used cars to everyone. c They create a common resource by letting everyone know about the condition of used cars. d They force the seller to tell the buyer everything about the used car.

Part 1 that current actions do not compromise the well-being of future generations. It recognizes that Sustainability is a critical concept in economics and environmental science, aiming to ensure traditional market mechanisms can sometimes lead to market failures, particularly in cases where environmental and social costs are not fully considered. Market failures, such as overexploitation of natural resources, pollution externalities, and the depletion of common- pool resources, can have adverse consequences for both the environment and society. To avoid market failures and promote sustainability, various strategies are employed. Governments often step in with regulations and policies that address externalities, establish property rights, and set standards to limit harmful activities. Additionally, sustainability initiatives encourage responsible resource management, green technologies, and corporate social responsibility...... Referring to the text, Briefly explain how sustainability…

1. a) What resources are important to Manitoba? 1. b) Why are these resources so important?  Provide at least one piece of information about each of the resources found in Manitoba. 1. c) In what ways could the community conserve or sustainably manage these resources?

1.Define ethical issue? 2.list the categories of unethical business activities as described in the chapter? 3.what is the role of top management in organizational ethics? 4.what is a code of ethics? 5.what are the four components of social responsibility? 6. Give an example of legal but irresponsible behavior. 7. How do business carry out their social responsibilities to consumers? 8.what is corporate philanthropy? 9.Describe strategic giving? 10.what are the 4 important aspects of a social contract between employees and employers?

Question 8     A state government is attempting to reduce pollution. It is choosing between taxes on the pollution or regulations requiring all polluters to reduce pollution by 20%. Which of the following best describes the outcomes?   a Both methods can result in the same reduction of pollution, but the taxes will achieve that goal by using fewer resources to reduce pollution b Both methods can result in the same reduction of pollution, but the taxes will achieve that goal by raising the costs of producing and thus raise prices. Regulation will not. c The taxes will allow more pollution, but both methods will use the same amount of resources. d The taxes will force less pollution, but both methods will use the same amount of resources.

1. How can a government encourage investment in a specific technology via the tax laws ? ( for example , information technology , sustainability , or environmental protection )

44. Consider a good which provides benefits to a large number of people and excluding anyone from using the good is almost impossible. The market for this good will likely - be limited to a small number of units produced. - be provided by a private firm rather than the government. - produce and consume too much of the good. - have a free-rider problem with people refusing to pay for consuming the good.

8. The interaction of individual choices Because a type of fish is on the verge of extinction, the government imposes rules that prohibit fishing in the publicly-owned spawning grounds. At first, owners of fishing boats complain about this restriction on where they can fish, but soon they notice that the number of adult fish swimming outside the protected area is much higher than it was before. With the restriction, each fishing boat ends up catching more fish than it did before the restriction was in place.   Which of the following principles of economic interaction best describes this scenario?   A-Markets usually lead to efficiency.   B-When markets do not achieve efficiency, government intervention can improve overall welfare.   C-Markets allocate goods effectively.   D-There is a tradeoff between equality and efficiency.   9. Property rights and market failures Loggers are much____   likely to supply wood to the market if property rights are enforced.…

1. The industrial revolution gave rise to capitalism and consumerism - True or False? 2. The industrial revolution in the 18th century gave rise to environmentalism immediately. - True or False? 3. The information age is considered the fourth stage of industrial revolution. - True or False? 4. An economic policy of exporting raw materials and importing manufactured goods  a. develops the economy b. develops science and technology c. hinders advancement in science and technology d. hinders economic development The use of science in the development of technology sustained the industrial revolution. - True or false

41- A colleague at work takes small amounts of IT supplies such as flash drive for her own personal use, saying that this is a tiny loss to the company. You tell her that if everyone were to take office supplies, then the loss would no longer be minimal . Your rationale expresses which of the following ethical issues: O a Property issues O bPrivacy issues Oc Accuracy issues O d Accessibility issues

3. Voluntary contributions toward a public good Sean and Bob are considering contributing toward the creation of a water fountain. Each can choose whether to contribute $300 to the water fountain or to keep that $300 for a weekend getaway. Since a water fountain is a public good, both Sean and Bob will benefit from any contributions made by the other person. Specifically, every dollar that either one of them contributes will bring each of them $0.90 of benefit. For example, if both Sean and Bob choose to contribute, then a total of $600 would be contributed to the water fountain. So, Sean and Bob would each receive $540 of benefit from the water fountain, and their combined benefit would be $1,080. This is shown in the upper left cell of the first table. Since a weekend getaway is a private good, if Sean chooses to spend $300 on a weekend getaway, Sean would get $300 of benefit from the weekend getaway and Bob wouldn't receive any benefit from Sean's choice. If Sean still spends…

1. a) What resources are important to Nova Scotia? 1. b) Why are these resources so important?  Provide at least one piece of information about each of the resources found in Nova Scotia. 1. c) In what ways could the community conserve or sustainably manage these resources?

1. How many people does it take to really communicate? Please explain. 2. In what other ways can you communicate with others? 3. Is it easier to communicate verbally or nonverbally? Why?

1. What is meant by Public Policy?  a. State an Introduction, Defination and Conclusion.

#12 ch. 13 Can you explain what the correct one is and why? Can you also explain why the other ones are incorrect?

1. What characteristic of public goods makes it very difficult for private firms to provide (or provide the correct amount of) the public good? What "problem" does this characteristic lead to that generally results in the need for the government to provide the public good? Explain this "problem."   2. List 5 distinct examples of public goods.

5. Common resources and the tragedy of the commons Felix, Larry, and Raphael are trappers who live next to a recreational hunting area that is open to trapping; in other words, anyone is free to use the recreational hunting area for trapping. Assume that these men are the only three trappers who trap in this recreational hunting area and that the recreational hunting area is large enough for all three trappers to trap intensively at the same time. Each year, the trappers choose independently how often to trap; specifically, they choose whether to trap intensively (that is, to set several traps and hunt long hours, which hurts the sustainability of the recreational hunting area if enough people do it) or to trap nonintensively (which does not hurt the sustainability of the recreational hunting area). None of them has the ability to control how much the others trap, and each trapper cares only about his own profitability and not about the state of the recreational hunting area.…