Question

Which of the following definitions describes principles?

Select one:

A. standards that guide the behavior of individuals and groups in the world of business

B. norms that are socially enforced, such as integrity, accountability, and trust

C. specific and pervasive boundaries for behavior that are universal and absolute and often form the basis for rules

D. sets of values or beliefs that are shared by members of an organization

Which of the following concerns is the primary rationalization for the regulation of trusts and monopolies by the government?

Select one:

A. Because trusts and monopolies lack serious competition, they may either exploit their market dominance to restrict their output and raise prices or reduce quality to gain greater profits.

B. Trusts and monopolies are more prone to "bait and switch" sales tactics.

C. Without regulation, trusts and monopolies are able to reach equilibrium.

D. Trusts and monopolies always use deceptive selling methods.

Which of the following is a reason why a company may employ lobbyists?

Select one:

A. The risk of investing time and money into self-regulation

B. The threat of legislation or regulation that may affect a company's operations negatively

C. A trend toward spending more money on digital advertising

D. Increasing demand for sustainable products

Answer 1

1.

Correct Answer:

C

The principles are considered as boundaries of human behavior and conduct that can be absolute in nature. These behavioral boundaries can also be used to draft rules.

===

2.

Correct Answer:

A

Trust and monopolies are big companies that can implement anti-trust policies and put smaller firms out of the market. With this, price and quality manipulation can be done by trusts and monopolies. It is the rationale to regulate trust and monopolies.

===

3.

Correct Answer:

B

Lobbyists are put to work so that there are some favorable changes to the regulations and it will favor the company. If not done, then legislation in its original form can hurt the company in different aspects. So, to prevent it, company deploys lobbyists to help them get favorable legislation.