Ch. 4 Social Responsibility

Which of the following are the four elements of an enforceable contract?

• Offer, Acceptance, Consideration, Legality

• Offer, Acceptance, Intention, Capacity

• Offer, Acceptance, Performance, Legality

• Offer, Acceptance, Consideration, Capacity

Which of the following is a government agency that collects and reports information for informed business decisions?

• Federal Reserve

• Bureau of Economic Analysis

• Census Bureau

• Environmental Protection Agency

Name the three levels of government.

• Federal, State, Local

• National, Regional, Municipal

• Central, Provincial, District

• International, National, Local

Monopolies are always bad for consumers.

• True

• False

__________ is the duty of a business to contribute to the well-being of its community and society at large.

• Social responsibility

• Profit maximization

• Market expansion

• Cost reduction

Public utilities include all of the following, except:

• Gas

• Electricity

• Cable

• Water

A code of ethics is important for businesses because it:

• Provides a framework for ethical decision-making

• Increases profitability

• Ensures compliance with all laws

• Eliminates all business risks

Antitrust laws prevent unfair business practices.

• True

• False

Which of the following would protect the rights of a songwriter?

• Copyright

• Patent

• Trademark

• Deed

What are the three types of intellectual property?

• Patents, Trademarks, and Copyrights

• Patents, Trademarks, and Trade Secrets

• Copyrights, Trademarks, and Trade Secrets

• Patents, Copyrights, and Trade Secrets