The Study of Business, Government, and Society

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Chapter 01
The Study of Business, Government, and Society

True / False Questions

1. The business-government-society (BGS) field is the study of this environment and its importance for managers.  True    False


2. The primary purpose of a business is to make a profit by providing products that satisfy human needs.  True    False


3. The structures and processes in a society that make and apply policies and rules are called businesses.  True    False


4. An enduring belief about which basic choices in a society are "correct" is called an idea.  True    False


5. Institutions are formal patterns of relations that link people together to accomplish a goal.  True    False


6. A business uses society's resources to create new wealth.  True    False


7. The public generally believes that a business has social responsibilities beyond merely making a profit.  True    False


8. The broad duties of a business that are needed to obtain the support of society are called its social contract.  True    False


9. In the market capitalism model, the "market" acts as a buffer between business and nonmarket forces.  True    False


10. The dominance model represents business primarily based on the economic forces that affect it.  True    False


11. The dominance model states that corporations act primarily for the good of most of the people in the society.  True    False


12. The dominance model believes that society is undemocratic in its operations.  True    False


13. The countervailing forces model states that society is governed primarily by economic forces.  True    False


14. The countervailing forces model accepts the absolute primacy of business as in the dominance model.  True    False


15. The countervailing forces model is essentially the same as the market capitalism model.  True    False


16. The stakeholder model states that the immediate priority of a corporation is to benefit its investors.  True    False


17. Governments are secondary stakeholders to corporations.  True    False


18. A concern with the stakeholder theory is that it is not always clear who or what a legitimate stakeholder is.  True    False


19. Theories simplify and organize areas of knowledge by describing patterns or regularities in the subject matter.  True    False


20. In addition to unprecedented wealth creation and new material comforts, capitalism also brings in risks of economic shocks.  True    False


Multiple Choice Questions

21. A profit-making activity that provides products and services that are intended to satisfy human needs is called a(n) _______.  A. business
C. government
D. society


22. The structures and processes in a society that authoritatively make and apply policies and rules are called ________.  A. ideas
B. ideologies
C. governments
D. institutions


23. The network of human relations that consists of ideas, institutions, and material things is a(n) ________.  A. ideology
B. society
C. theory
D. government


24. An enduring belief about which fundamental choices in personal and social life are "correct" is a(n) _______.  A. value
B. institution
C. function
D. process


25. A set of values that create a specific view of the world is a(n) _______  A. institution
B. ideology
C. society
D. economy


26. A formal pattern of relations that link people together in order to accomplish a goal is a(n) ________.  A. society
B. idea
C. institution
D. ideology


27. Which of the following statements is true about ideologies?  A. All ideologies have the power to organize collective activity. B. Ideologies are structures and processes that authoritatively make and apply policies and rules. C. Ideologies are essential to coordinate the work of individuals who have no direct relationship with each other. D. Secular and sacred...
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