test bank Essay

1790 WordsMay 5, 20148 Pages
Chapter 2—Social Responsibility MULTIPLE CHOICE 1. Stakeholders' power over businesses stems from their a. ability to withdraw or withhold resources. b. ability to generate profits. c. media impact. d. political influence. e. stock ownership. ANS: A PTS: 1 2. Those who have a claim in some aspect of a firm's products, operations, markets, industry, and outcomes are known as a. shareholders. b. stockholders. c. stakeholders. d. claimholders. e. special-interest groups. ANS: C PTS: 1 3. Which of the following do not typically engage in transactions with a company and thus are not essential for its survival? a. Employees b. Secondary stakeholders c. Primary stakeholders d. Investors e.…show more content…
ANS: A PTS: 1 15. Public health and safety and support of local organizations are issues most relevant to which stakeholder group? a. Investors b. Community c. Suppliers d. Customers e. Employees ANS: B PTS: 1 16. Minimizing the use of energy and reducing emissions and waste are issues of importance to which stakeholder? a. Environmental groups b. Suppliers c. Employees d. Industry leaders e. Investors ANS: A PTS: 1 17. The idea that the mission of business is to produce goods and services at a profit, thus maximizing its contribution to society is associated with a. Adam Smith. b. Theodore Levitt. c. Norman Bowie. d. Herman Miller e. Milton Friedman. ANS: E PTS: 1 18. The originator of the idea of the invisible hand, which is a fundamental concept in free market capitalism, was a. Adam Smith. b. Theodore Levitt. c. Norman Bowie. d. Herman Miller e. Milton Friedman. ANS: A PTS: 1 19. Some economists believe that if companies address economic and legal issues, they are satisfying the demands of society, and that trying to anticipate and meet additional needs would be almost impossible. Which economist’s theory are they following most closely with this belief? a. Adam Smith. b. Theodore Levitt. c. Norman Bowie. d. Herman Miller e. Milton Friedman. ANS: E PTS: 1 20. _____ argued that, although profits are required for business, profit is not the primary

More about test bank Essay

Open Document