Legality

Which of the following best represents a natural monopoly scenario?

• A single water supplier in a small town

• Multiple fashion boutiques in a shopping mall

• Several bookstores within a city

• Different fast-food chains in a food court

What makes a monopoly controlling?

• Having exclusive control over a specific market
• Offering superior customer service
• Having multiple competitors in the market
• Being a publicly traded company

Which act prohibits price discrimination that harms competition?

• Robinson-Patman Act
• Sherman Act
• Clayton Act
• Wheeler-Lea Act

Bankruptcy allows you to sell off what?

• Assets
• Inventory
• Revenue
• Liabilities

Which agency is responsible for enforcing laws related to deceptive advertising and consumer protection?

• FTC
• EPA
• FDA
• FCC

What is the difference between a patent and a copyright?

• A patent protects inventions and discoveries, while a copyright protects original works of authorship.
• A patent protects tangible items, while a copyright protects intangible ideas.
• A patent expires after 50 years, while a copyright expires after 20 years.
• A patent protects original works of authorship, while a copyright protects inventions and discoveries.

Which of the following is a common principle in ethics frameworks that focuses on acting in a way that maximizes overall happiness?

• Utilitarianism
• The Pythagorean Theorem
• The Second Law of Thermodynamics
• Newton's Third Law

What is the difference between ethics and value?

• Ethics are moral principles that govern a person's behavior, while values are beliefs or ideals that guide someone's actions.
• Values are moral principles, while ethics are personal beliefs
• Ethics and values are the same thing
• Ethics are personal beliefs, while values are universal standards

What type of workplace deviance involves intentionally damaging company property?

• Property deviance
• Political deviance
• Personal aggression
• Production deviance

Can companies be prosecuted for unethical behavior?

• Yes
• Sometimes
• Maybe
• No