Unit 7 Business and Society

A true statement regarding unethical behavior is

• It may cause people to lose trust in you

• It may be prevented by creating conflicts of interest

• It is always illegal

• It is regulated by administrative law

In a contract, a consideration is

• Exchanging things of value

• Breaching the contract

• A business tort

• The minimum age for the contract

The U.S. encourages domestic companies to export because

• It increases inflation

• It increases the number of U.S. consumers who buy domestic products

• It increases the value of a U.S. dollar

• It improves the interest rate

A ________ is a civil wrong caused by negligence or intentional harm

• Conflict of interest

• Breach

• Union

• Tort

A reason a country might put a tariff on imports is

• To form an agency relationship

• To increase its exports

• To protect domestic companies

• To create free trade

An example of a conflict of interest is

• A manufacturing company hires many employees

• A worker has two jobs at unrelated companies

• A lawyer represents the plaintiff and the defendant

• A competitor interferes with another company's contract

The agency that protects human health and the natural environment is

• The FTC

• The EEOC

• The CPSC

• The EPA

An example to increase the value of a country's currency is

• The country's imports are higher than its exports

• The country has high inflation

• The country has a lot of debt

• The country has a high interest rate

The type of relationship between a lawyer and a client is

• A labor relationship

• A tort relationship

• An administrative relationship

• An agency relationship

An example of something regulated by the FLSA

• Affirmative action

• Health and safety procedures

• Labeling of food products

• Minimum wage