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FINALTERM EXAMINATION
Fall 2008
MGT610- Business Ethics (Session - 1)
Marks: 81

Question No: 1 ( Marks: 1 ) - Please choose one

The ____________ refers to the potential conflict between management and shareholders
due to management's control of financial rewards as well as the possibility of
incompetent performance by managers.

Agency problem

Liquidity problem

Regulatory problem

Diversification problem

Question No: 2 ( Marks: 1 ) - Please choose one

A shift to judgments based on rules or norms of a group to which the individual belongs
is characteristic of which level of moral development?

Post-formal

Pre-conventional

Conventional

Post-conventional

Question No: 3 ( Marks: 1 ) - Please choose one

Commodities that are considered valuable only because they lead to other good things are
called:

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Instrumental goods

Instrumental values

Intrinsic goods

Intrinsic values

Question No: 4 ( Marks: 1 ) - Please choose one

The desire for a good or a service best represents:

Need

Want

Desire

None of the given

Question No: 5 ( Marks: 1 ) - Please choose one

Which of the following choices does NOT describe a situation that is covered by the
concept of rights?

The absence of prohibitions against an activity

The authorization to do something to secure one's interests

The necessity of doing something required by authority

The existence of prohibitions on others to enable individuals to pursue an activity

Question No: 6 ( Marks: 1 ) - Please choose one

Which of the following holds that all public offices and employment should be made
available to everyone?

The principle of equal liberty

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The difference principle

The principle of equal opportunity

The principles of ethics

Question No: 7 ( Marks: 1 ) - Please choose one

Which of the following is FALSE of Nozick s theory of justice?

Theory is redistributive

None of the above options

Theory is historical

Theory is no patterned

Question No: 8 ( Marks: 1 ) - Please choose one

Which of the following does NOT describe virtue ?

The traits that everyone needs for a good life

An excellence that is admired in a person

A disposition to act in multidimensional way

A specific state of character

Question No: 9 ( Marks: 1 ) - Please choose one

Who presented the theory of absolute advantage?

Adam Smith

Friedrich A. Hike

Murray Roth bard

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Eric Mack

Question No: 10 ( Marks: 1 ) - Please choose one

John Maynard Keynes argues that the aggregate demand for goods and services is the
sum of the demand of which of the following factor(s)?

Households

Businesses

Government

All of the given options

Question No: 11 ( Marks: 1 ) - Please choose one

Which of the following is the price that just covers the costs of producing the commodity
including the going rate of profit obtainable in other markets?

Natural price

Selling price

Price flexibility

Market price

Question No: 12 ( Marks: 1 ) - Please choose one

Which of the following rights is embodied by perfectly competitive free markets?

Negative right of freedom from coercion

Positive right of freedom from coercion

Moral right of freedom from coercion

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Ethical right of freedom from coercion

Question No: 13 ( Marks: 1 ) - Please choose one

Which of the following refers to the undesirable and unintended contamination of the
environment by the manufacture or use of commodities?

Toxic substance

Pollution

Acid rain

Airborne toxic

Question No: 14 ( Marks: 1 ) - Please choose one

Which of the following is a public policy view that holds that large firms should not be
broken up into smaller units but subjected to substantial governmental restraint and
controls?

The Chicago school view

The do-nothing view

The anti-trust view

The regulation view

Question No: 15 ( Marks: 1 ) - Please choose one

Which of the following public policy view claims that the power of oligopolies is not as
large as it appears?

The Chicago school view

The do-nothing view

The anti-trust view

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The regulation view

Question No: 16 ( Marks: 1 ) - Please choose one

How many people in the world don t have access to safe water?

1 billion

1.5billion

2 billion

2.5 billion

Question No: 17 ( Marks: 1 ) - Please choose one

If a firm makes basic goods (food product, clothing) for which the poor must allocate a
larger proportion of their budgets than the affluent. In this case which of the following
may place a heavier burden on the poor?

Social costs

Internalizing costs

Product costs

External costs

Question No: 18 ( Marks: 1 ) - Please choose one

Which of the following requires that those who have been injured should be compensated
by those who injure them?

Rights

Utilitarian

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Redistributive justice

Compensatory justice

Question No: 19 ( Marks: 1 ) - Please choose one

Which of the following explains the bearing of external costs of pollution largely by
those who do not enjoy a net benefit from the activity that produces the pollution?

Ecological ethic

Social ecology

Environmental injustice

Eco-feminism

Question No: 20 ( Marks: 1 ) - Please choose one

Who argued that there is a fundamental human right to a livable environment?

William Blackstone

Carol Gilligan

Robert Nozzick

John Locke

Question No: 21 ( Marks: 1 ) - Please choose one

Which of the following describes the saving or rationing natural resources for future use?

Consumption

Conservation

Reservation

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Destruction

Question No: 22 ( Marks: 1 ) - Please choose one

Critics to the market approach respond that the benefits of free markets are obtained only
when the markets have all of the following characteristics, EXCEPT:

There are numerous buyers and sellers

There are external costs

Everyone can freely enter and exit the market

Everyone has complete and accurate information

Question No: 23 ( Marks: 1 ) - Please choose one

Which of the following is NOT a problem with the assumption of rational utility
maximization?

Few people are good at estimating probabilities

People are generally irrational and inconsistent when weighing the choices

Many consumer markets are monopolies or oligopolies

Utility maximizer has a well-defined and consistent set of preferences

Question No: 24 ( Marks: 1 ) - Please choose one

Our probability judgments go astray for a number of reasons, including all EXCEPT:

People believe that they exert control over purely chance events

Generalizations are made on the basis of small sample findings

Emphasis on "causation" results in the under weighing of evidence that is relevant

We forget to take the "law of averages" into account

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Question No: 25 ( Marks: 1 ) - Please choose one

Which of the following statements could NOT be made by a believer in ecological

ethics?

The world must be protected for the sake of human beings

The well-being of all the life on earth has value in itself

Humans have no right to reduce the diversity of life except to satisfy vital needs

Appreciate the quality of life rather than striving for a higher standard of living

Question No: 26 ( Marks: 1 ) - Please choose one

Which of the following statements is TRUE of the beliefs of deep ecology?

It is our moral duty to protect the human beings

Non human parts of the environment deserve to be preserved for their own sake

Only human parts of the environment deserve to be respected

The world must be protected for the sake of human beings

Question No: 27 ( Marks: 1 ) - Please choose one

According to critics of marker approach, how many characteristics market will have to
obtain the benefits of free market?

Question No: 28 ( Marks: 1 ) - Please choose one

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Which of the following is the view that describes the relationship between a firm and its
customers where the firm's moral duties to the customer are those created by this
contract?

Contract view of business duties

The duty of disclosure

The due care theory

None of the given options

Question No: 29 ( Marks: 1 ) - Please choose one

Which of the following is the main objection against the assumptions of contractual
theory?

Unrealistic

Impractical

Concentrated on sellers only

Concentrated on buyers only

Question No: 30 ( Marks: 1 ) - Please choose one

Which of the following is NOT a valid criticism on the ethics of advertising?

Advertising uses images that many find vulgar and offensive

Advertising debases the tastes of consumers

Advertising is wasteful

Advertising promotes monopolies

Question No: 31 ( Marks: 1 ) - Please choose one

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Deception involves all the following conditions necessary to be possessed by the author
of an ad, EXCEPT:

The author must know it to be false

The author must knowingly do something to bring about this false belief

The author must know it to be true

The author must intend to have the audience believe something false

Question No: 32 ( Marks: 1 ) - Please choose one

All of the following are deceptive or manipulative marketing practices, EXCEPT:

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Multiple pricing

Bait and switch selling

Markdowns from a suggested retail price that is never charged

Everyone can freely enter and exit the market

Question No: 33 ( Marks: 1 ) - Please choose one

Which of the following is a situation where demand always exceeds supply?

None of the given options

Monopoly

Perfect competition

Free market

Question No: 34 ( Marks: 1 ) - Please choose one

Which of the following define that someone has a well defined and consistent set of
preferences, and who knows how personal choices will affect those preferences?

Utility maximization

Rational utility maximizer

Manufacturers utility

None of the given options

Question No: 35 ( Marks: 1 ) - Please choose one

Which of the following is the period of time during which the product will function as
effectively as the consumer is to lead to expect it to function?

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Reliability

Service life

Maintainability

Product safety

Question No: 36 ( Marks: 1 ) - Please choose one

Which of the following describes the ease with which the product can be repaired and
kept in operating condition?

Reliability

Service life

Maintainability

Product safety

Question No: 37 ( Marks: 1 ) - Please choose one

Which of the following is NOT a benefit of having a code of ethics?

Supplier loyalty increases

Managers get more confident

Competitive positions improve

Employee loyalty increases

Question No: 38 ( Marks: 1 ) - Please choose one

Which of the following is a legal doctrine that holds that manufacturers must bear the
costs of injuries resulting from product defects regardless of fault?

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Manufacturer s liability

Consumer s liability

Strict liability

Product liability

Question No: 39 ( Marks: 1 ) - Please choose one

Marketing ethic refers to which of the following?

Improper behavior in marketing

Acceptable conduct in society

Improper behavior in business

Acceptable conduct in marketing

Question No: 40 ( Marks: 1 ) - Please choose one

Which of the following is the result of effective advertising campaigns on consumers,

which gives large corporations control over a major portion of the market?

Brand loyalty

Consumer protection

Reliability

None of the given options

Question No: 41 ( Marks: 1 ) - Please choose one

Which of the following is a proposed program where a large scale publicly funded
education program aimed at empowering ordinary citizens?

Investment in men

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Investment in women

Investment in children

Investment in non-humans

Question No: 42 ( Marks: 1 ) - Please choose one

Which of the following is the primary function of commercial advertisements?

Provide unbiased information

Sell products to prospective buyers

Provide biased information

None of the given options

Question No: 43 ( Marks: 3 )

What is the theme of the book "Limits to Growth"? What is its inference?

Question No: 44 ( Marks: 3 )

What is meant by green revolution?

Question No: 45 ( Marks: 3 )

What are the various bases to determine the ethical nature of an advertisement?

Question No: 46 ( Marks: 5 )

Pollution always imposes external costs that is, costs for which the person who
produces the pollution does not have to pay. Pollution is fundamentally a problem of this
divergence between private and social costs. Explain why should this divergence be a
problem?

Question No: 47 ( Marks: 5 )

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Use of puffery currently is an ethical and legal issue in advertising. Thinking in this
perspective; if puffery is declared legal, why it is problematic as part of a competitive
comparison? Briefly discuss.

Question No: 48 ( Marks: 10 )

Give arguments for and against the critics of market to consumer issues.

Question No: 49 ( Marks: 10 )

Where did Ford Pinto go wrong? In other words, what contractual principles did they
violate?

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BC080201472 : ABDUL WAQAR 65
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Quiz Start Time: 08:57 PM

Question # 2 of 20 ( Start time: 08:59:01 PM) Total Marks: 1

_________is a code of conduct that an individual or a group has about right and wrong.
Select correct option:

Morality

Ethics

Business Ethics

Personal Ethics

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Question # 3 of 20 ( Start time: 09:00:26 PM) Total Marks: 1

The person's reasons for acting must be reasons that everyone could act on at least in principles is known as?
Select correct option:

Reversibility

Universalizability
 Rule utilitarianism

None of the above

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Question # 4 of 20 ( Start time: 09:01:54 PM) Total Marks: 1

Which philosopher of utilitarianism presents the cost-benefit analysis?
Select correct option:

Aristotle

Mill

Kant

Bentham

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Question # 5 of 20 ( Start time: 09:03:18 PM) Total Marks: 1

Who argued in response to the free market and utility by Adam Smith that government should intervene because there is a
mismatch between the aggregate supply and demand?
Select correct option:

John Hicks

Maynard Keynes

Herbert Spencer

Charles Darwin

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Quiz Start Time: 08:57 PM

Question # 6 of 20 ( Start time: 09:04:37 PM) Total Marks: 1

According to the classical version of utilitarianism, utility is defined as
Select correct option:

Having lots of money

Living up to one’s duties

Happiness
 Whatever one’s local community thinks happiness is

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Question # 7 of 20 ( Start time: 09:06:06 PM) Total Marks: 1

Which of the following purpose that nations should not artificially limit imports nor artificially promote exports?
Select correct option:

Economic freedom

Free trade

Economic freedom index

Invisible hand

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Question # 8 of 20 ( Start time: 09:07:08 PM) Total Marks: 1

Which one of the following is the right order for three stages of moral development?
Select correct option:
 Principled morality,conventional morality and selfish

Conventional morality,Principled morality and selfish

Selfish,Conventional morality and Principled morality

None of the above

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Question # 9 of 20 ( Start time: 09:08:14 PM) Total Marks: 1

How many basic types of moral standards exist?
Select correct option:

Three

Four

Five

None of the above

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Question # 10 of 20 ( Start time: 09:08:50 PM) Total Marks: 1

Modern corporations consist of?
Select correct option:

Stockholders

Directors and employees

Government agencies

Both a & b

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BC080201472 : ABDUL WAQAR 65

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Question # 11 of 20 ( Start time: 09:09:14 PM) Total Marks: 1

In which year Adam Smith asserted that the wealth of a nation consisted of the goods and services available to its citizens?
Select correct option:

1676

1776
 1876

1976

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Question # 12 of 20 ( Start time: 09:09:57 PM) Total Marks: 1

Kohlberg's research indicates that pre-conventional reasoning is dominant in:
Select correct option:

Elementary school

Adulthood

Adolescence

Old age

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Question # 13 of 20 ( Start time: 09:11:06 PM) Total Marks: 1

Which one of the following is not a basic type of moral standards?
 Select correct option:

Utilitarianism

Rights

Justice

Relevant

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Question # 14 of 20 ( Start time: 09:12:35 PM) Total Marks: 1

Weighing Social Costs and Benefits is a technique used in?
Select correct option:

Justice concept

Right concept

Caring concept

Utilitarianism concept
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Question # 15 of 20 ( Start time: 09:13:12 PM) Total Marks: 1

Which of the following regulates production and exchange in a free market, according to Adam Smith?
Select correct option:

Supply and demand

Supply and command

Demand only

Supply only

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BC080201472 : ABDUL WAQAR 82

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Question # 16 of 20 ( Start time: 09:13:43 PM) Total Marks: 1

What are the levels on which ethical decision making occurs?
Select correct option:

Individual
 Organizational

Business system

All of the given

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BC080201472 : ABDUL WAQAR 81

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Question # 17 of 20 ( Start time: 09:14:01 PM) Total Marks: 1

To which of the following we cannot assign monetary value?
Select correct option:

Friendship

Love

Peace

All of the above

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Question # 18 of 20 ( Start time: 09:14:20 PM) Total Marks: 1

Which one of the following is NOT the role of government in individualistic society?
Select correct option:

Protect property

Enforce contracts

Keep market place open

A vision for community

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Question # 20 of 20 ( Start time: 09:17:22 PM) Total Marks: 1

"Act in such a way that "you always treat humanity, whether in your own person or in the person of any other, never simply as
a means, but always at the same time as an end." said by?
Select correct option:

John Rawal

Kant
Carol Gilligan

None of the above

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MGT610 Business Ethics Mid Term Paper solved

Question No: 1 ( Marks: 1 ) - Please choose one

The modern corporations consist of ________.
None of the given
Stock holders, Employees, Customers
Stock holders, Employees, Directors
Directors, Managers, Customers

Question No: 2 ( Marks: 1 ) - Please choose one

Which one of the following is NOT the criterion employed by different ethicists to
evaluate moral reasoning?
Moral reasoning must be logical
Factual evidence must be accurate, relevant, and complete
Moral standards must be consistent
Moral development must be ethical

Question No: 3 ( Marks: 1 ) - Please choose one

Mujeeb and Imran are defendants charged by the government for insider trading. According to the
prisoner's dilemma scenario what will result in the worst outcome for
Mujeeb?
Mujeeb confesses and Imran does not.
Both Mujeeb and Imran confess.
Both Mujeeb and Imran stay silent.
Mujeeb doesn't confess and Imran does.

Question No: 4 ( Marks: 1 ) - Please choose one

Who is the supporter of Categorical Imperative?
Kant
Sidgwick
Bentham
Mill

Question No: 5 ( Marks: 1 ) - Please choose one

If Sameer destroy Sajjid s property or injure him bodily, Sameer will be held morally responsible for
paying him damages. This is an example of:
Redistributive justice
Compensatory justice
Distributive justice
Socialist s justice

Question No: 6 ( Marks: 1 ) - Please choose one

 Suppose a female manager supervises 10 people and one of them is a friend of hers. One day she
catches her friend stealing from the company. Should she turn in her friend as company policy
requires or should she say nothing to protect her friend. This is an example of?
Demands of caring
Demand of justice
Conflict between caring and justice
None of the given options

Question No: 7 ( Marks: 1 ) - Please choose one

Which one of the following moral judgment approaches will be used when someone's actions and
policies will substantially affect the welfare and freedom of specifiable individuals?
Utility
Rights
Justice
Caring

Question No: 8 ( Marks: 1 ) - Please choose one

In which system slavery would be entirely legal?
Free market system
Command economy system
Voluntary exchange system
Pure free market system

Question No: 9 ( Marks: 1 ) - Please choose one

Who has defended free markets on the basis of utilitarian argument?
Friedrich A. Hayek
Alasdair MacIntyre
Adam smith
John Locke

Question No: 10 ( Marks: 1 ) - Please choose one

Which of the following is an economic system in which the means of production are privately
owned and operated for a profit?
Communism
Capitalism
Liberalism
Socialism
Question No: 11 ( Marks: 1 ) - Please choose one
Which of the following economist has the harshest and most influential critics of the inequalities
that private property institutions and free markets accused of creating?
John Maynard Keynes
Karl Marx
Adam Smith
David Ricardo
Question No: 12 ( Marks: 1 ) - Please choose one
Which of the following is NOT a moral outcome of perfectly competitive markets?
Justice
Utility
Rights
Faith

Question No: 13 ( Marks: 1 ) - Please choose one

Chicken Delight is chain of food stores whose major product is chicken. Chicken Delight would sell a
franchise license to a person only if the person also agreed to purchase a certain number of cookers,
fryers, and other suppliers. This is an example of:

Tying arrangement
Exclusive dealing arrangement
Retail price maintenance agreement
Manipulation of supply

Question # 1 of 15 ( Start time: 08:56:08 PM ) Total Marks: 1

Which markets embody sense of justice?

Select correct option:

Mixed markets

Liberal markets

Free markets

None of the above

Question # 2 of 15 ( Start time: 08:56:53 PM ) Total Marks: 1

Which of the following choices does NOT describe a situation that is covered by the concept of
rights?
Select correct option:

The absence of prohibitions against an activity

The authorization to do something to secure one's interests

The necessity of doing something required by authority

The existence of prohibitions on others to enable individuals to pursue an activity

Question # 3 of 15 ( Start time: 08:58:22 PM ) Total Marks: 1

Which theory claims that people would be lazy without private property?

Select correct option:

Capitalism

Socialism

Utilitarianism

None of the above

Question # 4 of 15 ( Start time: 08:59:27 PM ) Total Marks: 1

The most influential economic institutions are designed to achieve?

Select correct option:

Production of the goods

Distribution of the goods

Both a & b

None of the above

Question # 5 of 15 ( Start time: 09:00:22 PM ) Total Marks: 1

According to Aristotle’s view, how do we learn virtue?

Select correct option:

By habit

By dialectical argument

By rational instruction

By learning from our mistakes

Question # 6 of 15 ( Start time: 09:01:07 PM ) Total Marks: 1

Which philosopher defended the idea that we should always treat humanity as an end in itself rather
than a means?

Select correct option:

Kant
Mill

Bentham

Rawls

Question # 7 of 15 ( Start time: 09:02:22 PM ) Total Marks: 1

The concept that there are no relevant differences among people that can justify unequal treatment
is known as?

Select correct option:

Egalitarianism

Utilitarianism

Socialism

None of the above

Question # 8 of 15 ( Start time: 09:03:44 PM ) Total Marks: 1

Commodities that are considered valuable only because they lead to other good things are called:

Select correct option:

Instrumental goods

Instrumental values

Intrinsic goods

Intrinsic values
Question # 9 of 15 ( Start time: 09:05:10 PM ) Total Marks: 1

Socialist view on distribution is best described as:

Select correct option:

From each according to his ability, to each according to his needs

The benefits a person receives should be proportional to his contribution

From each they choose, to each as they are chosen

Always treat humanity as an end in itself rather than as a means

Question # 10 of 15 ( Start time: 09:06:06 PM ) Total Marks: 1

Factual evidence has the following properties except?

Select correct option:

Time bound

Accurate

Relevant

Complete

Question # 11 of 15 ( Start time: 09:06:55 PM ) Total Marks: 1

In which country Locke’s property rights have been influential?

Select correct option:

England

Germany

America

Greek

Question # 12 of 15 ( Start time: 09:07:27 PM ) Total Marks: 1

Which of the following are the criteria for determining moral right and wrong?

Select correct option:

Universalizability

Reversibility

Both a & b

None of the above

Question # 13 of 15 ( Start time: 09:08:06 PM ) Total Marks: 1

Utilitarianism is unable to deal with following kind of moral issues?

Select correct option:

Rights

Justice

Both a & b

None of the above

Question # 14 of 15 ( Start time: 09:08:50 PM ) Total Marks: 1

What are the levels on which ethical decision making occurs?

Select correct option:

Individual

Organizational

Business system

All of the given

Question # 15 of 15 ( Start time: 09:09:28 PM ) Total Marks: 1

Privacy is an example of?

Select correct option:

Positive right

Basic need

Negative right

None of the above

Question # 1 of 15 ( Start time: 09:16:17 PM ) Total Marks: 1

Which theory includes means of production and selling one's labor?

Select correct option:

Capitalist systems

Free economy system

Socialist system

None of the above

capitalist systems offer only two sources of income–owning the means of production and

selling one's labor–workers

Question # 2 of 15 ( Start time: 09:17:26 PM ) Total Marks: 1

Equality of income and equality of opportunity is refers to:

Select correct option:

Equality

Political equality

Economic equality

Human equality

Question # 3 of 15 ( Start time: 09:17:59 PM ) Total Marks: 1

Through utilitarianism offers a clear-cut method of calculating morality. What is the number of
problems identified with this method?
Select correct option:

Question # 4 of 15 ( Start time: 09:19:21 PM ) Total Marks: 1

Who presented the theory of absolute advantage?

Select correct option:

Adam Smith

Friedrich A. Hike

Murray Roth bard

Eric Mack

Question # 5 of 15 ( Start time: 09:20:14 PM ) Total Marks: 1

Which of the following are components of free market systems?

Select correct option:

Private property system

Voluntary exchange system

Both a & b

None of the above

Free market systems have two main components: a private property system and a voluntary
exchange system. Pure free market systems would have absolutely no constraints on what on can
own and what one can do with it

Question # 6 of 15 ( Start time: 09:21:08 PM ) Total Marks: 1

What are the levels on which ethical decision making occurs?

Select correct option:

Individual

Organizational

Business system

All of the given

Question # 7 of 15 ( Start time: 09:21:55 PM ) Total Marks: 1

Which one of the following is not an essential component of moral reasoning?

Select correct option:

Understanding of reasonable requirement of moral standard

Evidence or information regarding these moral standards

Both a & b

None of the given options

Question # 8 of 15 ( Start time: 09:22:44 PM ) Total Marks: 1

How many sources of income Capitalist systems offer?

Select correct option:

Question # 9 of 15 ( Start time: 09:23:40 PM ) Total Marks: 1

Which of the following refers to the ability of a person or a country to produce a particular good at a
lower opportunity cost than another country?

Select correct option:

Absolute advantage

Comparative advantage

Resource efficiency

Natural advantage

Question # 10 of 15 ( Start time: 09:25:03 PM ) Total Marks: 1

Which one of the following is not a basic type of moral standards?

Select correct option:

Utilitarianism

Rights

Justice

Relevant

Question # 11 of 15 ( Start time: 09:25:54 PM ) Total Marks: 1

Which philosopher defended the idea that we should always treat humanity as an end in itself rather
than a means?

Select correct option:

Kant

Mill

Bentham

Rawls

Question # 12 of 15 ( Start time: 09:26:14 PM ) Total Marks: 1

Which one of the following is NOT a trait of character that makes an individual a morally good
human being?

Select correct option:

Courage

Temperance

Hope

Justice

Question # 13 of 15 ( Start time: 09:27:39 PM ) Total Marks: 1

The limited rights and correlative duties that arise when one person enters an agreement with
another person is the definition of:

Select correct option:

Contract

Justice
Special obligations

Legal rights

Question # 14 of 15 ( Start time: 09:28:37 PM ) Total Marks: 1

Which one is the justice concern of blaming or punishing persons for doing wrong?

Select correct option:

Distributive justice

Redistributive justice

Compensatory justice

None of the given

Question # 15 of 15 ( Start time: 09:29:34 PM ) Total Marks: 1

Which of the following is the combining of two or more independent bodies into a single body?

Select correct option:

Joint venture

Merger

Management contract
Licensing

Question # 1 of 15 ( Start time: 09:39:55 PM ) Total Marks: 1

Which one of the following does not come under Interpersonal Concordance Orientation?

Select correct option:

Trust

Opinion

Affection

Loyalty

Question # 2 of 15 ( Start time: 09:41:02 PM ) Total Marks: 1

Which one is considered as primary economic institution?

Select correct option:

Business Enterprises

Banks

Insurance companies

None of the above

Question # 3 of 15 ( Start time: 09:41:52 PM ) Total Marks: 1

The idea that moral rightness or wrongness is culture-dependent is an example of

Select correct option:

Moral relativism

Moral absolutism

Categorical imperative

Universality

Question # 4 of 15 ( Start time: 09:43:02 PM ) Total Marks: 1

What was the number of the patients suffering from river blindness in Africa andLatin America?

Select correct option:

16 million

17 million

17.5 million

18 million

Question # 5 of 15 ( Start time: 09:43:55 PM ) Total Marks: 1

How many considerations are there when to determine what the moral thing to do on any particular
occasion?

Select correct option:

3
None of the above

Question # 6 of 15 ( Start time: 09:44:50 PM ) Total Marks: 1

The type with which one looks only at moral rules or actions of a particular type is known as?

Select correct option:

Rule utilitarianism

Utilitarianism

Both a & b

None of the above

Quiz Start Time: 09:39 PM

Time Left 88

sec(s)

Question # 7 of 15 ( Start time: 09:46:02 PM ) Total Marks: 1

Which market approximates the model of the perfectly competitive free market?

Select correct option:

Agricultural market

Commodity market

Securities market

None of the above

Question # 8 of 15 ( Start time: 09:47:33 PM ) Total Marks: 1

Which one of the following is not considered as part of the three stages of moral development
proposed by Carol Gilligan?

Select correct option:

Social Contract Orientation

principled morality

conventional morality

progressing from selfish

Question # 9 of 15 ( Start time: 09:48:59 PM ) Total Marks: 1

What is the number of characteristics that differentiate between moral and non-moral standards?

Select correct option:

Question # 10 of 15 ( Start time: 09:50:01 PM ) Total Marks: 1

First principle of John Rawls theory is called:

Select correct option:

Difference principle

Principle of equal liberty

Principle of fair equality of opportunity

Original position

Question # 11 of 15 ( Start time: 09:51:16 PM ) Total Marks: 1

In a command economy, all decisions are taken by the:

Select correct option:

People

Government

Voters

Workers

Question # 12 of 15 ( Start time: 09:52:10 PM ) Total Marks: 1

The behavior respects the basic rights of the individuals involved and whether the behavior is
consistent with one's agreements and special duties is referred as?

Select correct option:

Standards of justice

Standards of caring

Standards that specify how individuals must be treated

None of the above

Question # 13 of 15 ( Start time: 09:53:20 PM ) Total Marks: 1

Greater economic freedom ranking countries enjoy the following except?

Select correct option:

Highest standards of living

Greatest degree of political freedom

Both a & b

None of the above

Over time, more and more countries have moved toward greater economic freedom.

Countries ranking highest on this index tend to enjoy both the highest standards of living

Question # 14 of 15 ( Start time: 09:54:51 PM ) Total Marks: 1

Which one of the following is not an essential component of moral reasoning?

Select correct option:

Understanding of reasonable requirement of moral standard

Evidence or information regarding these moral standards

Both a & b

None of the given options

Question # 15 of 15 ( Start time: 09:55:24 PM ) Total Marks: 1

Which one of the following study aims to discover “what should be”?

Select correct option:

Moral Study

Descriptive Study

Normative Study

Study of Ethics

Which one of the country has more collectivist culture?

USA
Japan
Pakistan
None of the above

Socialist view on distribution is best described as:

From each according to his ability, to each according to his needs
The benefits a person receives should be proportional to his contribution
From each they choose, to each as they are chosen
Always treat humanity as an end in itself rather than as a means
What is the number of characteristics that differentiate between moral and non-moral standards?
5
4
2
1

Which of the following does NOT describe “virtue”?

The traits that everyone needs for a good life
An excellence that is admired in a person
A disposition to act in multidimensional way
A specific state of character

Which one of the following is not considered as category of issues involving justice?
Distributive justice
Retributive justice
Compulsory justice
Compensatory justice

Which one is the justice concern of blaming or punishing persons for doing wrong?
Distributive justice
Redistributive justice
Compensatory justice
None of the given
Moral standards are absorbed from?
Family & Friends
Experience
Intellectual capital
All of the above

Individual actions are directed through

Policies
Culture
Associations
Both a & b

Equality of income and equality of opportunity is refers to:

Equality
Political equality
Economic equality
Human equality

Which one of the following is not a basic type of moral standards?

Utilitarianism
Rights
Justice
Relevant

Which one of the following is a component of free market systems?

Private property system
Involuntary exchange system
Command system
None of the given

Which philosopher of utilitarianism presents the cost-benefit analysis?

Aristotle
Mill
Kant
Bentham

Which principle of John Rawls assumes that a productive society will incorporate inequalities?
Principle 1
Principle 2
Part a of principle 2
Part b of principle 2

MGT610 business ethics

Right action comes to be defined in terms of moral principles chosen because of their logical
comprehensiveness, universality, and consistency is known as?

Select correct option:

Interpersonal Concordance Orientation
Universal Ethical Principles Orientation
Social Contract Orientation
Law and Order Orientation
Which one is considered as primary economic institution?
Select correct option:
Business Enterprises
Banks
Insurance companies
None of the above
Kohlberg's research indicates that pre-conventional reasoning is dominant in:
Select correct option:
Elementary school
Adulthood (not sure)
Adolescence
Old age
In how many ways efficiency comes about in perfectly competitive free markets?
Select correct option:
Two ways
Three ways
Four ways
None of the above
Which of the following is NOT a feature of free market?
Select correct option:
Free choice
Free enterprise
Price flexibility
Price fixing
Individual actions are directed through
Select correct option:
Policies
Culture
Associations
Both a & b
In which Year Township and village enterprises (TVEs) legalized?
Select correct option:
1974
1984
1994
2004
Which of the following deals with the distribution of benefits and burdens, mostly in the evaluation
of social, political, and economic institutions?
Select correct option:
Retributive justice
Compensatory justice
Distributive justice
Ethical justice
Which one of the following is not a basic type of moral standards?
Select correct option:
Utilitarianism
Rights
Justice
Relevant

Which statement reflects the "punishment and obedience orientation" stage (stage one) of moral
development?
Select correct option:
I don't steal because my friends don't steal
I don't steal because I don't want to be spanked
I don't steal because it would harm society as a whole
I don't steal because it wouldn't be fair to everyone else if I did

A principle that describes that it would be acceptable to a group of rational, self interested persons
who know they will live under it themselves is known as?
Select correct option:
Moral
Basic
Immoral
None of the above

Which one of the following is not the basis of an important critical method in ethics?
Select correct option:
Counter examples
Hypothetical examples
Literature examples
Both a & b

Who presented the theory of absolute advantage?

Select correct option:
Adam Smith
Friedrich A. Hike
Murray Roth bard
Eric Mack

Moral standards are absorbed from?

Select correct option:
Family & Friends
Experience
Intellectual capital
All of the above

Which one of the following ethic sees concrete communities and communal relationships as having
a fundamental value?
Select correct option:
The care of ethic
Demands of caring
Communitarian ethic
Socialism
 MGT610- Business Ethics Solved Objective
For Final Term Exam Preparation
Question No: 1 ( Marks: 1 ) - Please choose one
The modern corporations consist of _____ _.
 None of the given
 Stock holders, Employees, Customers
Stock holders, Employees, Directors
 Directors, Managers, Customers
Question No: 2 ( Marks: 1 ) - Please choose one
Which one of the following is NOT the criterion employed by different ethicists to evaluate moral
reasoning?
 Moral reasoning must be logical
 Factual evidence must be accurate, relevant, and complete
 Moral standards must be consistent
Moral development must be ethical
Question No: 3 ( Marks: 1 ) - Please choose one
Mujeeb and Imran are defendants charged by the government for insider trading.
According to the prisoner's dilemma scenario what will result in the worst outcome for Mujeeb?
 Mujeeb confesses and Imran does not.
 Both Mujeeb and Imran confess.
 Both Mujeeb and Imran stay silent.
Mujeeb doesn't confess and Imran does.
Question No: 4 ( Marks: 1 ) - Please choose one
Who is the supporter of Categorical Imperative?
Kant
 Sidgwick
 Bentham
 Mill
Question No: 5 (Marks: 1 ) - Please choose one
If Sameer destroy Sajjid s property or injure him bodily, Sameer will be held morally responsible for
paying him damages. This is an example of:
 Redistributive justice
Compensatory justice
 Distributive justice
 Socialist s justice
Question No: 6 ( Marks: 1 ) - Please choose one
Suppose a female manager supervises 10 people and one of them is a friend of hers. One day she catches
her friend stealing from the company. Should she turn in her friend as company policy requires or should
she say nothing to protect her friend? This is an example of?

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  Demands of caring
 Demand of justice
Conflict between caring and justice
 None of the given options
Question No: 7 ( Marks: 1 ) - Please choose one
Which one of the following moral judgment approaches will be used when someone
S actions and policies will substantially affect the welfare and freedom of specifiable individuals?
 Utility
Rights
 Justice
 Caring

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 Question No: 8 ( Marks: 1 ) - Please choose one
In which system slavery would be entirely legal?
 Free market system
 Command economy system
 Voluntary exchange system
Pure free market system
Question No: 9 ( Marks: 1 ) - Please choose one
Who has defended free markets on the basis of utilitarian argument?
 Friedrich A. Hayek
 Alasdair MacIntyre
Adam smith
John Locke
Question No: 10 ( Marks: 1 ) - Please choose one
Which of the following is an economic system in which the means of production are privately owned
and operated for a profit?
Communism
Capitalism
Liberalism
Socialism
Question No: 11 ( Marks: 1 ) - Please choose one
Which of the following economist has the harshest and most influential critics of the inequalities that
private property institutions and free markets accused of creating?
 John Maynard Keynes
Karl Marx (51p)
Adam Smith
David Ricardo
Question No: 12 ( Marks: 1 ) - Please choose one
Which of the following is NOT a moral outcome of perfectly competitive markets?
Justice
 Utility
 Rights
Faith
Question No: 13 ( Marks: 1 ) - Please choose one
Chicken Delight is chain of food stores whose major product is chicken. Chicken Delight would sell a
franchise license to a person only if the person also agreed to purchase a certain number of cookers,
fryers, and other suppliers. This is an example of:
Tying arrangement (63p)
Exclusive dealing arrangement
 Retail price maintenance agreement
 Manipulation of supply
Question No: 14 ( Marks: 1 ) - Please choose one
Which of the following refers to the undesirable and unintended contamination of the environment by the
manufacture or use of commodities?

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  Toxic substance
Pollution(66p)
Acid rain
Airborne toxic
Question No: 15 ( Marks: 1 ) - Please choose one
Which of the public policy view advocate breaking large firms up into smaller units?
 The Chicago school view
 The do-nothing view
The anti-trust view (65p)

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  The regulation view
Question No: 16 ( Marks: 1 ) - Please choose one
Which of the following is the discipline that studies the moral relationship of human beings to, and also
the value and moral status of, the environment and its non-human contents?
Environmental ethics(68p)
Business ethics
Moral ethics
 Social ethics
Question No: 17 ( Marks: 1 ) - Please choose one
Which of the following is a cost that manufacturers don t bear?
 Private cost
Social cost (95p)
 Product cost
 None of the given options
Question No: 18 ( Marks: 1 ) - Please choose one
Which of the following is not based on the idea that the environment should be protected for the sake of
human beings?
 Environmental ethic
Ecological ethic(78p)
 Blackstone s ethic
 Utilitarian ethic
Question No: 19 ( Marks: 1 ) - Please choose one
Which one of the following is the principal Utilitarian remedy for pollution?
To internalize the external costs of production (81p)
To externalize the internal costs of production
To minimize the total social cost of production
To maximize the total social cost of production
Question No: 20 ( Marks: 1 ) - Please choose one
Which of the following seems to be consistent with the utilitarian way of dealing with pollution (i.e. by
internalizing costs)?
 Rights
Justice(81p)
 Both rights and justice
 None of the given options
Question No: 21 ( Marks: 1 ) - Please choose one
Who summarized the procedure for cost and benefit analysis?
 Adam Smith
Thomas Klein(83p)
 John Rawls
 Samuel Johnson
Question No: 22 ( Marks: 1 ) - Please choose one
Which of the following discipline argued that to solve our ecological problems, we must first change the
destructive modes of thinking?
 Ecological ethic

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  Social ecology
 Social audit(83p)
 Eco-feminism
Question No: 23 ( Marks: 1 ) - Please choose one
Which of the following describes provides a new model with some tools for navigating the deep and often
confusing relationship between client and caregiver and for preventing the harmful consequences of
ethical misconduct?
 Ecological ethic
Social ecology

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  Ethic of caring
 Eco-feminism
Question No: 24 ( Marks: 1 ) - Please choose one
Which of the following is the only way of ensuring a supply for tomorrow s generations?
Conservation(87p)
 Reservation
 Preservation
 None of the given options
Question No: 25 ( Marks: 1 ) - Please choose one
Which of the following statements could NOT be made by a believer in ecological ethics?
The world must be protected for the sake of human beings
The well-being of all the life on earth has value in itself
Humans have no right to reduce the diversity of life except to satisfy vital needs
Appreciate the quality of life rather than striving for a higher standard of living
Question No: 26 ( Marks: 1 ) - Please choose one
Which of the following is based on the idea that nonhuman parts of the environment deserve to be
preserved for their own sake?
Environmental ethic
Deep ecology(78p)
Blackstone s ethic
 Utilitarian ethic
Question No: 27 ( Marks: 1 ) - Please choose one
Which of the following theory assumes that the manufacturer can discover the entire risk associated with
using a product before it is actually used?
 The liability theory
The due care theory(105p)
 The contractual theory
 The social cost theory
Question No: 28 ( Marks: 1 ) - Please choose one
Which of the following is NOT a valid criticism on the ethics of advertising?
 Advertising uses images that many find vulgar and offensive
 Advertising debases the tastes of consumers
Advertising is wasteful(108p)
 Advertising promotes monopolies
Question No: 29 ( Marks: 1 ) - Please choose one
All of the following are deceptive or manipulative marketing practices, EXCEPT:
 Multiple pricing (not sure)
 Bait and switch selling
 Markdowns from a suggested retail price that is never charged
 Everyone can freely enter and exit the market
Question No: 30 ( Marks: 1 ) - Please choose one
How many people died each year in America by lighter explosions?

100

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 200
300
 400 (not sure)
Question No: 31 ( Marks: 1 ) - Please choose one
Which of the following is the degree of risk associated with using a product?
 Reliability
 Service life
 Maintainability
Product safety(18p)
Question No: 32 ( Marks: 1 ) - Please choose one

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 Which of the following is one of the areas of producer responsibility according to due care theory?
Duty to produce healthy products(not sure)
 Duty to disclosure
 Duty not to coerce
 Duty not to misrepresent
Question No: 33 ( Marks: 1 ) - Please choose one
Which of the following is the only way of indicating whether a process is fair or discriminatory?
See what happens to minorities as a group(138p)
 See what happens to minorities only
 See what happens to a group only
 See what happens to majority only
Question No: 34 ( Marks: 1 ) - Please choose one
Which of the following is NOT a statement which presents the firm s view on ethics?
 Value statement
Morality(not sure)
 Ethical philosophy
 Code of ethics
Question No: 35 ( Marks: 1 ) - Please choose one
A bakery advertises that its latest product can lower cholesterol even though the bakery cannot prove this claim.
This situation involves an ethical issue related to which element of the marketing mix?
Product
 Price
 Promotion
 Distribution
Question No: 36 ( Marks: 1 ) - Please choose one
Which of the following books was written by John Kenneth Galbraith?
The Affluent Society(122p)
The Road of Serfdom
The Wealth of Nations
The Prisoner s Dilemma
Question No: 37 ( Marks: 1 ) - Please choose one
Who argued that advertising is manipulative: it is the creation of desires in consumers for the sole
purpose of absorbing industrial output?
Nicholas Kaldor
 Kotler
K. Galbraith(120p)
 Hayek
Question No: 38 ( Marks: 1 ) - Please choose one
Which of the following is a proposed program where a large scale publicly funded education program
aimed at empowering ordinary citizens?
Investment in men(120p)
Investment in women
Investment in children

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 Investment in non-humans
Question No: 39 ( Marks: 1 ) - Please choose one
Which of the following attributes translates the statement Marketers should not exploit the credulity,
lack of knowledge or inexperience of consumers ?
 Safety
 Legality
Honesty(131p)
Truthfulness
Question No: 40 ( Marks: 1 ) - Please choose one
Which of the following is a wrongful act of distinguishing illicitly among people not on the basis of

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 individual merit, but on the basis of prejudice or some other invidious or morally reprehensible attitude?
Discrimination(137p)
Job discrimination
 Affirmative action
 Discriminatory practice
Question No: 41 ( Marks: 1 ) - Please choose one
Which of the following is the primary function of commercial advertisements? P
 Provide unbiased information
Sell products to prospective buyers(108p)
 Provide biased information
 None of the given options
Question No: 42 ( Marks: 1 ) - Please choose one
Which of the following makes freedom of choice impossible?
 Information
 Probability
Misrepresentation(102p)
 Ignorance

MGT610- Business Ethics

Question No: 1 ( Marks: 1 ) - Please choose one
The ______ _ _ refers to the potential conflict between management and shareholders due to management's
control of financial rewards as well as the possibility of incompetent performance by managers.
 Agency problem
 Liquidity problem
 Regulatory problem
 Diversification problem
Question No: 2 ( Marks: 1 ) - Please choose one
A shift to judgments based on rules or norms of a group to which the individual belongs is characteristic of which level of
moral development?
 Post-formal
 Pre-conventional
 Conventional
 Post-conventional (10p)
Question No: 3 ( Marks: 1 ) - Please choose one
Commodities that are considered valuable only because they good things are called:
 Instrumental goods
 Instrumental values
 Intrinsic goods(21p) (Intrinsic goods are things that are desired for their own sake, such as health and life)
 Intrinsic values
Question No: 4 ( Marks: 1 ) - Please choose one
The desire for a good or a service best represents:
 Need

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  Want
Desire
 None of the given
Question No: 5 ( Marks: 1 ) - Please choose one
Which of the following choices does NOT describe a situation that is covered by the concept of rights?
 The absence of prohibitions against an activity
 The authorization to do something to secure one's interests
The necessity of doing something required by lead to other authority(23p)
 The existence of prohibitions on others to enable individuals to pursue an activity

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 Question No: 6 ( Marks: 1 ) - Please choose one
Which of the following holds that all public offices and employment should be made available to everyone?
 The principle of equal liberty
 The difference principle
The principle of equal opportunity(34p)
 The principles of ethics
Question No: 7 ( Marks: 1 ) - Please choose one
Which of the following is FALSE of Nozick s theory of justice?
Theory is redistributive(33p)
 None of the above options
 Theory is historical
 Theory is no patterned
Question No: 8 ( Marks: 1 ) - Please choose one
Which of the following does NOT describe virtue ?
 The traits that everyone needs for a good life
 An excellence that is admired in a person
A disposition to act in multidimensional way(39p)
 A specific state of character
Question No: 9 ( Marks: 1 ) - Please choose one
Who presented the theory of absolute advantage?
Adam Smith(46p)
Friedrich A. Hike
 Murray Roth bard
 Eric Mack
Question No: 10 ( Marks: 1 ) - Please choose one
John Maynard Keynes argues that the aggregate demand for goods and services is the sum of the demand
of which of the following factor(s)?
 Households
 Businesses
 Government
All of the given options(50p)
Question No: 11 ( Marks: 1 ) - Please choose one
Which of the following is the price that just covers the costs of producing the commodity including the going rate of profit
obtainable in other markets?
Natural price(50p)
Selling price
Price flexibility
Market price
Question No: 12 ( Marks: 1 ) - Please choose one
Which of the following rights is embodied by perfectly competitive free markets?
Negative right of freedom from coercion(59p)
Positive right of freedom from coercion
Moral right of freedom from coercion

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 Ethical right of freedom from coercion
Question No: 13 ( Marks: 1 ) - Please choose one
Which of the following refers to the undesirable and unintended contamination of the environment by the
manufacture or use of commodities?
Toxic substance
Pollution
Acid rain
Airborne toxic
Question No: 14 ( Marks: 1 ) - Please choose one
Which of the following is a public policy view that holds that large firms should not be broken up into smaller units

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 but subjected to substantial governmental restraint and controls?
 The Chicago school view
 The do-nothing view
 The anti-trust view
The regulation view(66p)
Question No: 15 ( Marks: 1 ) - Please choose one
Which of the following public policy view claims that the power of oligopolies is not as large as it appears?
 The Chicago school view
The do-nothing view(65p)
 The anti-trust view
 The regulation view
Question No: 16 ( Marks: 1 ) - Please choose one
How many people in the world don t have access to safe water?
1 billion(73p)
 1.5billion
 2 billion
 2.5 billion
Question No: 17 ( Marks: 1 ) - Please choose one
If a firm makes basic goods (food product, clothing) for which the poor must allocate a larger proportion of their budgets
than the affluent. In this case which of the following may place a heavier burden on the poor?
 Social costs
Internalizing costs(81p)
 Product costs
 External costs
Question No: 18 ( Marks: 1 ) - Please choose one
Which of the following requires that those who have been injured should be compensated by those who injure
them?
 Rights
 Utilitarian
 Redistributive justice
Compensatory justice
Question No: 19 ( Marks: 1 ) - Please choose one
Which of the following explains the bearing of external costs of pollution largely by those who do not enjoy a net
benefit from the activity that produces the pollution?
 Ecological ethic
 Social ecology
Environmental injustice(82p)
 Eco-feminism
Question No: 20 ( Marks: 1 ) - Please choose one
Who argued that there is a fundamental human right to a livable environment?
William Blackstone(79p)
 Carol Gilligan
 Robert Nozzick

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  John Locke
Question No: 21 ( Marks: 1 ) - Please choose one
Which of the following describes the saving or rationing natural resources for future use?
 Consumption
Conservation(87p)
 Reservation
 Destruction
Question No: 22 ( Marks: 1 ) - Please choose one
Critics to the market approach respond that the benefits of free markets are obtained only when the markets have
all of the following characteristics, EXCEPT:
 There are numerous buyers and sellers

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 There are external costs(97p)
 Everyone can freely enter and exit the market
 Everyone has complete and accurate information
Question No: 23 ( Marks: 1 ) - Please choose one
Which of the following is NOT a problem with the assumption of rational utility maximization?
Few people are good at estimating probabilities(97p)
 People are generally irrational and inconsistent when weighing the choices
 Many consumer markets are monopolies or oligopolies
 Utility maximizer has a well-defined and consistent set of preferences
Question No: 24 ( Marks: 1 ) - Please choose one
Our probability judgments go astray for a number of reasons, including all EXCEPT:
 People believe that they exert control over purely chance events
 Generalizations are made on the basis of small sample findings
 Emphasis on "causation" results in the under weighing of evidence that is relevant
We forget to take the "law of averages" into account(97p)
Question No: 25 ( Marks: 1 ) - Please choose one
Which of the following statements could NOT be made by a believer in ecological ethics?
The world must be protected for the sake of human beings(78p)
 The well-being of all the life on earth has value in itself
 Humans have no right to reduce the diversity of life except to satisfy vital needs
 Appreciate the quality of life rather than striving for a higher standard of living
Question No: 26 ( Marks: 1 ) - Please choose one
Which of the following statements is TRUE of the beliefs of deep ecology?
 It is our moral duty to protect the human beings
 Non human parts of the environment deserve to be preserved for their own sake(78p)
 Only human parts of the environment deserve to be respected
 The world must be protected for the sake of human beings
Question No: 27 ( Marks: 1 ) - Please choose one
According to critics of marker approach, how many characteristics market will have to obtain the benefits of free
market?
7(97p)
 5
 4
 3
Question No: 28 ( Marks: 1 ) - Please choose one
Which of the following is the view that describes the relationship between a firm and its customers where the firm’s
moral duties to the customer are those created by this contract?
Contract view of business duties(101p)
 The duty of disclosure
 The due care theory
 None of the given options
Question No: 29 ( Marks: 1 ) - Please choose one
Which of the following is the main objection against the assumptions of contractual theory?
Unrealistic(103p)

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 Impractical
 Concentrated on sellers only
 Concentrated on buyers only
Question No: 30 ( Marks: 1 ) - Please choose one
Which of the following is NOT a valid criticism on the ethics of advertising?
 Advertising uses images that many find vulgar and offensive
 Advertising debases the tastes of consumers
Advertising is wasteful
 Advertising promotes monopolies
Question No: 31 ( Marks: 1 ) - Please choose one

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Deception involves all the following conditions necessary to be possessed by the author of an ad, EXCEPT:
 The author must know it to be false
 The author must knowingly do something to bring about this false belief
The author must know it to be true(109p)
 The author must intend to have the audience believe something false
Question No: 32 ( Marks: 1 ) - Please choose one
All of the following are deceptive or manipulative marketing practices, EXCEPT:
 Multiple pricing
 Bait and switch selling
 Markdowns from a suggested retail price that is never charged
 Everyone can freely enter and exit the market
Question No: 33 ( Marks: 1 ) - Please choose one
Which of the following is a situation where demand always exceeds supply?
 None of the given options
Monopoly(98p)
 Perfect competition
 Free market
Question No: 34 ( Marks: 1 ) - Please choose one
Which of the following define that someone has a well defined and consistent set of preferences, and who knows
how personal choices will affect those preferences?
 Utility maximization
Rational utility maximizer(97p)
 Manufacturers utility
 None of the given options
Question No: 35 ( Marks: 1 ) - Please choose one
Which of the following is the period of time during which the product will function as effectively as the consumer
is to lead to expect it to function?
 Reliability
 Service life
 Maintainability
 Product safety
Question No: 36 ( Marks: 1 ) - Please choose one
Which of the following describes the ease with which the product can be repaired and kept in operating condition?
 Reliability
 Service life
Maintainability
Product safety
Question No: 37 ( Marks: 1 ) - Please choose one
Which of the following is NOT a benefit of having a code of ethics?
Supplier loyalty increases
Managers get more confident
Competitive positions improve
Employee loyalty increases
Question No: 38 ( Marks: 1 ) - Please choose one
Which of the following is a legal doctrine that holds that manufacturers must bear the costs of injuries resulting
from product defects regardless of fault?
Manufacturer s liability
 Consumer s liability
 Strict liability(106p)
 Product liability
Question No: 39 ( Marks: 1 ) - Please choose one
Marketing ethic refers to which of the following?
 Improper behavior in marketing
 Acceptable conduct in society
  Improper behavior in business
Acceptable conduct in marketing
Question No: 40 ( Marks: 1 ) - Please choose one
Which of the following is the result of effective advertising campaigns on consumers, which gives large
corporations control over a major portion of the market?
Brand loyalty
 Consumer protection
 Reliability
 None of the given options
Question No: 41 ( Marks: 1 ) - Please choose one
Which of the following is a proposed program where a large scale publicly funded education program aimed at
empowering ordinary citizens?
Investment in men
 Investment in women
 Investment in children
 Investment in non-humans
Question No: 42 ( Marks: 1 ) - Please choose one
Which of the following is the primary function of commercial advertisements?
 Provide unbiased information
Sell products to prospective buyers
 Provide biased information
 None of the given options
When there are many sellers and many buyers then it is called?
Select correct option:
Monopolistic competition
Perfect competition
Oligopolistic Competition
None of the above
Page 45

Suppose you purchased a product of ABC Company by inspiring an

advertisement. After purchasing decision you realized that the real
product functionalities are not matching with real one. Categories such
type of advertisement.
Select correct option:
Deceptive advertisement
Under estimated advertisement
Wrongly communicated advertisement
Professional advertisement
Page 116

Deceptive advertising can take several forms. An advertisement can

misrepresent the nature of the product by using deceptive mock-ups, using
untrue paid testimonials, inserting the word guarantee where nothing is
guaranteed, and quoting misleading prices, failing to disclose defects in a
product, misleadingly disparaging a competitor’s goods, or simulating well-
known brand names

1
_______by which actions or policies are judged to accord with or be in
violation of moral standards?
Select correct option:
Moral reasoning
Moral development
Moral Standards
Logical Validity
Page 10

Moral reasoning refers to the reasoning process by which human behaviors,

institutions, or policies are judged to be in accordance with or in violation of
moral standards

Which of the following is a related group of thinkers, sees the key form
of hierarchy connected to the destruction of the environment as the
domination of women by men?
Select correct option:
Ethicists
Eco feminists
Friends of earth
Friends of world watch
Page 68
Eco-feminists, a related group of thinkers, see the key form of hierarchy
connected to the destruction of the environment as the domination of women
by men

Which theory was proposed by David Ricardo in 1817?

Select correct option:

Natural advantage
comparative advantage
Acquired advantage
Resource efficiency advantage
Page36

Comparative Advantage:
In 1817 David Ricardo reasoned.

2
The Club of Rome, a forum of think-tanks consist of all except?
Select correct option:
Economists
Scientists
International civil servants
All of the above
Page74
The Club of Rome, a think-tank of scientists, economists, businesspeople,
international civil servants, and politicians from the five continents.

How much in over the past 150 years, deforestation has contributed to
the atmospheric build-up of CO2?
Select correct option:
One third
Two third
One fourth
None of the above
Page 59
Over the past 150 years, deforestation has contributed one third of the
atmospheric build-up of CO2

In a command economy, all decisions are taken by the:

Select correct option:
People
Government
Voters
Workers

a command system, in which a single authority decides what to produce,

who will produce it, and who will get it.

A principle that describes that it would be acceptable to a group of

rational, self interested persons who know they will live under it
themselves is known as?
Select correct option:
Moral

3
Basic
Immoral
None of the above
Page25

a principle is moral if it would be acceptable to a group of rational, self-

interested persons who know they will live under it themselves.

Which one of the following is an alternative to moral principles?

Select correct option:
Virtue Ethics
Logic Ethics
Real Ethics
None of the above
Page 29

An Alternative to Moral Principles: Virtue Ethics

In which market system firms are not encouraged to reduce its costs?
Select correct option:
Monopoly
Oligopoly
Perfect competition
None of the above
Page 49

A monopoly firm is not encouraged to reduce its costs and is therefore not
motivated to find less costly methods of production.

Water pollution comes from all except?

Select correct option:
Agriculture
Oil Wells
Manufacturing
All of the above
Page59

4
Pollution comes from agriculture, mines, oil wells, human wastes,
manufacturing , detergents, and the food industry, among other sources

Which of the following is the only way of ensuring a supply for

tomorrow’s generations?
Select correct option:
Conservation
Reservation
Preservation
None of the given options
Page 67

The debate about the rights of future generations centers on the extent to
which present generations should bear responsibility for the preservation of
the environment for future generation.

Who should receive the benefits of pollution control?

Select correct option:
Who bear the external cost
Who bear the product cost
Who bear the internal cost
Firm
Page 66

the benefits of pollution control should flow to those who have had to bear
the external costs of pollution

Relationship between a business firm and consumer essentially be?

Select correct option:
Forced relationship
Contractual relationship
Due care relationship
None of the above
Page 86, 101

the relationship between a business and its customers is a contractual one;

the moral duties to the customer are those created by this contract.

5
the relationship between a business firm and its customers is
essentially a contractual relationship

Who summarized the procedure for cost and benefit analysis?

Select correct option:
Adam Smith
Thomas Klein
John Rawls
Samuel Johnson
Page 65

Thomas Klein summarized the procedures for cost-benefit analysis

Question No: 1 ( Marks: 1 ) - Please choose one

The modern corporations consist of ________.
 None of the given
 Stock holders, Employees, Customers
 Stock holders, Employees, Directors
 Directors, Managers, Customers

the modern corporation consists of (a) stockholders who contribute capital and
who own the corporation but whose liability for the acts of the corporation is
limited to the money they contributed, (b) directors and officers who administer
the corporation's assets and who run the corporation through various levels of
"middle managers," and (c) employees who provide labor and who do the basic
work related directly to the production of goods and services.

Question No: 2 ( Marks: 1 ) - Please choose one

Which one of the following is NOT the criterion employed by
different ethicists to evaluate moral reasoning?
 Moral reasoning must be logical
 Factual evidence must be accurate, relevant, and complete
 Moral standards must be consistent
 Moral development must be ethical

6
Question No: 3 ( Marks: 1 ) - Please choose one
Mujeeb and Imran are defendants charged by the government
for insider trading.
According to the prisoner's dilemma scenario what will result in
the worst outcome for Mujeeb?
 Mujeeb confesses and Imran does not.
 Both Mujeeb and Imran confess.
 Both Mujeeb and Imran stay silent.
 Mujeeb doesn't confess and Imran does.

Question No: 4 ( Marks: 1 ) - Please choose one

Who is the supporter of Categorical Imperative?
 Kant
 Sidgwick
 Bentham
 Mill

Question No: 5 (Marks: 1 ) - Please choose one

If Sameer destroy Sajjid s property or injure him bodily, Sameer
will be held morally responsible for
paying him damages. This is an example of:
 Redistributive justice
 Compensatory justice
 Distributive justice
 Socialist s justice

Question No: 6 ( Marks: 1 ) - Please choose one

Suppose a female manager supervises 10 people and one of
them is a friend of hers. One day she catches
her friend stealing from the company. Should she turn in her
friend as company policy requires or should
she say nothing to protect her friend? This is an example of?
 Demands of caring
 Demand of justice
Conflict between caring and justice

7
 None of the given options

Question No: 7 ( Marks: 1 ) - Please choose one

Which one of the following moral judgment approaches will be
used when someone actions and policies will substantially
affect the welfare and freedom of specifiable individuals?
 Utility
 Rights
 Justice
 Caring

Question No: 8 ( Marks: 1 ) - Please choose one

In which system slavery would be entirely legal?
 Free market system
 Command economy system
 Voluntary exchange system
 Pure free market system

Question No: 9 ( Marks: 1 ) - Please choose one

Who has defended free markets on the basis of utilitarian
argument?
 Friedrich A. Hayek
 Alasdair MacIntyre
 Adam smith
 John Locke

Question No: 10 ( Marks: 1 ) - Please choose one

Which of the following is an economic system in which the
means of production are privately owned and operated for a
profit?
 Communism
 Capitalism

8
 Liberalism
 Socialism

Question No: 11 ( Marks: 1 ) - Please choose one

Which of the following economist has the harshest and most
influential critics of the inequalities that private property
institutions and free markets accused of creating?
 John Maynard Keynes
 Karl Marx (51p)
 Adam Smith
 David Ricardo

Question No: 12 ( Marks: 1 ) - Please choose one

Which of the following is NOT a moral outcome of perfectly
competitive markets?
 Justice
 Utility
 Rights
 Faith

Question No: 13 ( Marks: 1 ) - Please choose one

Chicken Delight is chain of food stores whose major product is
chicken. Chicken Delight would sell a franchise license to a
person only if the person also agreed to purchase a certain
number of cookers, fryers, and other suppliers. This is an
example of:
 Tying arrangement (63p)
 Exclusive dealing arrangement
 Retail price maintenance agreement
 Manipulation of supply

Tying Arrangements - when a company sells a buyer certain goods only on

condition that the buyer also purchases other goods from the firm.

9
Question No: 14 ( Marks: 1 ) - Please choose one
Which of the following refers to the undesirable and unintended
contamination of the environment by the manufacture or use of
commodities?
 Toxic substance
 Pollution(66p)
 Acid rain
 Airborne toxic

Question No: 15 ( Marks: 1 ) - Please choose one

Which of the public policy view advocate breaking large firms up
into smaller units?
 The Chicago school view
 The do-nothing view
 The anti-trust view (65p)
 The regulation view

Question No: 16 ( Marks: 1 ) - Please choose one

Which of the following is the discipline that studies the moral
relationship of human beings to, and also the value and moral
status of, the environment and its non-human contents?
 Environmental ethics(68p)
 Business ethics
 Moral ethics
 Social ethics

Question No: 17 ( Marks: 1 ) - Please choose one

Which of the following is a cost that manufacturers dont bear?
 Private cost
 Social cost (95p)
 Product cost

10
 None of the given options

Question No: 18 ( Marks: 1 ) - Please choose one

Which of the following is not based on the idea that the
environment should be protected for the sake of
human beings?
 Environmental ethic
 Ecological ethic(78p)
 Blackstone s ethic
 Utilitarian ethic

ecological ethics or deep ecology, maintains that the environment deserves to be

preserved for its own sake, regardless of whether or not this directly benefits
humanity.

Question No: 19 ( Marks: 1 ) - Please choose one

Which one of the following is the principal Utilitarian remedy for
pollution?
 To internalize the external costs of production (81p)
 To externalize the internal costs of production
 To minimize the total social cost of production
 To maximize the total social cost of production

Question No: 20 ( Marks: 1 ) - Please choose one

Which of the following seems to be consistent with the utilitarian
way of dealing with pollution (i.e. by internalizing costs)?
 Rights
 Justice(81p)
 Both rights and justice
 None of the given options

Question No: 21 ( Marks: 1 ) - Please choose one

Who summarized the procedure for cost and benefit analysis?
 Adam Smith

11
 Thomas Klein(83p)
 John Rawls
 Samuel Johnson

Question No: 22 ( Marks: 1 ) - Please choose one

Which of the following discipline argued that to solve our
ecological problems, we must first change the destructive
modes of thinking?
 Ecological ethic
 Social ecology
 Social audit(83p)
 Eco-feminism

Question No: 23 ( Marks: 1 ) - Please choose one

Which of the following describes provides a new model with
some tools for navigating the deep and often confusing
relationship between client and caregiver and for preventing the
harmful consequences of ethical misconduct?
 Ecological ethic
 Social ecology
 Ethic of caring
 Eco-feminism

Question No: 24 ( Marks: 1 ) - Please choose one

Which of the following is the only way of ensuring a supply for
tomorrow s generations?
 Conservation(87p)
 Reservation
 Preservation
 None of the given options

conserve resources for future generations because

12
they have an equal right to the limited resources of this planet.

Question No: 25 ( Marks: 1 ) - Please choose one

Which of the following statements could NOT be made by a
believer in ecological ethics?
 The world must be protected for the sake of human beings
 The well-being of all the life on earth has value in itself
 Humans have no right to reduce the diversity of life except to
satisfy vital needs
 Appreciate the quality of life rather than striving for a higher
standard of living

Question No: 26 ( Marks: 1 ) - Please choose one

Which of the following is based on the idea that nonhuman parts
of the environment deserve to be preserved for their own sake?
 Environmental ethic
 Deep ecology(78p)
 Blackstone s ethic
 Utilitarian ethic

This idea, called ecological ethics or deep ecology, maintains

that the environment deserves to be preserved for its own sake,
regardless of whether or not this directly benefits humanity.

Question No: 27 ( Marks: 1 ) - Please choose one

Which of the following theory assumes that the manufacturer
can discover the entire risk associated with using a product
before it is actually used?
 The liability theory
 The due care theory(105p)
 The contractual theory
 The social cost theory

Question No: 28 ( Marks: 1 ) - Please choose one

13
Which of the following is NOT a valid criticism on the ethics of
advertising?
 Advertising uses images that many find vulgar and offensive
 Advertising debases the tastes of consumers
 Advertising is wasteful(108p)
 Advertising promotes monopolies

Question No: 29 ( Marks: 1 ) - Please choose one

All of the following are deceptive or manipulative marketing
practices, EXCEPT:
 Multiple pricing (not sure)
 Bait and switch selling
 Markdowns from a suggested retail price that is never charged
 Everyone can freely enter and exit the market

Question No: 30 ( Marks: 1 ) - Please choose one

How many people died each year in America by lighter
explosions?
 100
 200
 300
 400 (not sure)

Question No: 31 ( Marks: 1 ) - Please choose one

Which of the following is the degree of risk associated with
using a product?
 Reliability
 Service life
 Maintainability
 Product safety(18p)

14
Question No: 32 ( Marks: 1 ) - Please choose one
Which of the following is one of the areas of producer
responsibility according to due care theory?
 Duty to produce healthy products(not sure)
 Duty to disclosure
 Duty not to coerce
 Duty not to misrepresent

Question No: 33 ( Marks: 1 ) - Please choose one

Which of the following is the only way of indicating whether a
process is fair or discriminatory?
 See what happens to minorities as a group(138p)
 See what happens to minorities only
 See what happens to a group only
 See what happens to majority only

Question No: 34 ( Marks: 1 ) - Please choose one

Which of the following is NOT a statement which presents the
firm s view on ethics?
 Value statement
 Morality(not sure)
 Ethical philosophy
 Code of ethics

Question No: 35 ( Marks: 1 ) - Please choose one

A bakery advertises that its latest product can lower cholesterol
even though the bakery cannot prove this claim.
This situation involves an ethical issue related to which element
of the marketing mix?
 Product
 Price
 Promotion

15
 Distribution

Question No: 36 ( Marks: 1 ) - Please choose one

Which of the following books was written by John Kenneth
Galbraith?
 The Affluent Society(122p)
 The Road of Serfdom
 The Wealth of Nations
 The Prisoner s Dilemma

Question No: 37 ( Marks: 1 ) - Please choose one

Who argued that advertising is manipulative: it is the creation of
desires in consumers for the sole purpose of absorbing
industrial output?
 Nicholas Kaldor
 Kotler
 K. Galbraith(120p)
 Hayek

John K. Galbraith and other have long argued that advertising is manipulation
lative : it is the creation of desires in consumers for the sole purpose of absorbing
industrial output.

Question No: 38 ( Marks: 1 ) - Please choose one

Which of the following is a proposed program where a large
scale publicly funded education program aimed at empowering
ordinary citizens?
 Investment in men(120p)
 Investment in women
 Investment in children
 Investment in non-humans

16
Galbraith's major proposal was a program he called "investment in men" - a
large-scale publicly-funded education program aimed at empowering ordinary
citizens. Galbraith wished to entrust citizens with the future of the American
republic.

Question No: 39 ( Marks: 1 ) - Please choose one

Which of the following attributes translates the statement
Marketers should not exploit the credulity, lack of knowledge or
inexperience of consumers ?
 Safety
 Legality
 Honesty(131p)
 Truthfulness

Honesty
Marketers should not exploit the credulity, lack of knowledge or inexperience of
consumers.

Question No: 40 ( Marks: 1 ) - Please choose one

Which of the following is a wrongful act of distinguishing illicitly
among people not on the basis of individual merit, but on the
basis of prejudice or some other invidious or morally
reprehensible attitude?
 Discrimination(137p)
 Job discrimination
 Affirmative action
 Discriminatory practice

the term refers to "wrongful discrimination," or distinguishing among people on

the basis of prejudice instead of individual merit.

Question No: 41 ( Marks: 1 ) - Please choose one

Which of the following is the primary function of commercial
advertisements? P
 Provide unbiased information

17
 Sell products to prospective buyers(108p)
 Provide biased information
 None of the given options

Question No: 42 ( Marks: 1 ) - Please choose one

Which of the following makes freedom of choice impossible?
 Information
 Probability
 Misrepresentation(102p)
 Ignorance
Misrepresentation, even more than the failure to disclose information, renders
freedom of choice impossible.

Question No: 1 ( Marks: 1 ) - Please choose one

The ____________ refers to the potential conflict between
management and shareholders due to management's
control of financial rewards as well as the possibility of
incompetent performance by managers.
 Agency problem
 Liquidity problem
 Regulatory problem
 Diversification problem

Question No: 2 ( Marks: 1 ) - Please choose one

A shift to judgments based on rules or norms of a group to
which the individual belongs is characteristic of which level of
moral development?
 Post-formal
 Pre-conventional
 Conventional
 Post-conventional (10p)

18
Question No: 3 ( Marks: 1 ) - Please choose one
Commodities that are considered valuable only because they
good things are called:
 Instrumental goods
 Instrumental values
 Intrinsic goods(21p)
 Intrinsic values

(Intrinsic goods are things that are desired for their own sake, such as
health and life)

Question No: 4 ( Marks: 1 ) - Please choose one

The desire for a good or a service best represents:
 Need
 Want
 Desire
 None of the given

Question No: 5 ( Marks: 1 ) - Please choose one

Which of the following choices does NOT describe a situation
that is covered by the concept of rights?
 The absence of prohibitions against an activity
 The authorization to do something to secure one's interests
 The necessity of doing something required by lead to other
authority(23p)
 The existence of prohibitions on others to enable individuals to
pursue an activity

Question No: 6 ( Marks: 1 ) - Please choose one

Which of the following holds that all public offices and
employment should be made available to everyone?

19
 The principle of equal liberty
 The difference principle
 The principle of equal opportunity(34p)
 The principles of ethics

Question No: 7 ( Marks: 1 ) - Please choose one

Which of the following is FALSE of Nozick s theory of justice?
 Theory is redistributive(33p)
 None of the above options
 Theory is historical
 Theory is no patterned

Question No: 8 ( Marks: 1 ) - Please choose one

Which of the following does NOT describe virtue ?
 The traits that everyone needs for a good life
 An excellence that is admired in a person
 A disposition to act in multidimensional way(39p)
 A specific state of character

Question No: 9 ( Marks: 1 ) - Please choose one

Who presented the theory of absolute advantage?
 Adam Smith(46p)
 Friedrich A. Hike
 Murray Roth bard
 Eric Mack

In 1776 Adam Smith asserted that the wealth of a nation consisted of the goods
and services available to its citizens.

20
Question No: 10 ( Marks: 1 ) - Please choose one
John Maynard Keynes argues that the aggregate demand for
goods and services is the sum of the demand
of which of the following factor(s)?
 Households
 Businesses
 Government
 All of the given options(50p)

John Maynard Keynes. Keynes argued that government intervention was

necessary because there is a mismatch between aggregate supply and demand.
Governments pending can close any gap between aggregate demand and
aggregate supply by taking up the slack in demand from households and
businesses.

Question No: 11 ( Marks: 1 ) - Please choose one

Which of the following is the price that just covers the costs of
producing the commodity including the going rate of profit
obtainable in other markets?
 Natural price(50p)
 Selling price
 Price flexibility
 Market price

Smith called the natural price (i.e., the price that just covers the costs of
producing the commodity, including the going rate of profit obtainable in other
markets)

Question No: 12 ( Marks: 1 ) - Please choose one

Which of the following rights is embodied by perfectly
competitive free markets?
 Negative right of freedom from coercion(59p)
 Positive right of freedom from coercion
 Moral right of freedom from coercion
 Ethical right of freedom from coercion

21
Question No: 13 ( Marks: 1 ) - Please choose one
Which of the following refers to the undesirable and unintended
contamination of the environment by the
manufacture or use of commodities?
 Toxic substance
 Pollution
 Acid rain
 Airborne toxic

Question No: 14 ( Marks: 1 ) - Please choose one

Which of the following is a public policy view that holds that
large firms should not be broken up into smaller units but
subjected to substantial governmental restraint and controls?
 The Chicago school view
 The do-nothing view
 The anti-trust view
 The regulation view(66p)

Question No: 15 ( Marks: 1 ) - Please choose one

Which of the following public policy view claims that the power
of oligopolies is not as large as it appears?
 The Chicago school view
 The do-nothing view(65p)
 The anti-trust view
 The regulation view

Question No: 16 ( Marks: 1 ) - Please choose one

How many people in the world dont have access to safe water?
 1 billion(73p)
 1.5billion
 2 billion

22
 2.5 billion

Today, almost 1 billion people lack access to safe water and the world’s
per capita supplies of water are shrinking

Question No: 17 ( Marks: 1 ) - Please choose one

If a firm makes basic goods (food product, clothing) for which
the poor must allocate a larger proportion of their budgets
than the affluent. In this case which of the following may place a
heavier burden on the poor?
 Social costs
 Internalizing costs(81p)
 Product costs
 External costs

Question No: 18 ( Marks: 1 ) - Please choose one

Which of the following requires that those who have been
injured should be compensated by those who injure
them?
 Rights
 Utilitarian
 Redistributive justice
 Compensatory justice

Question No: 19 ( Marks: 1 ) - Please choose one

Which of the following explains the bearing of external costs of
pollution largely by those who do not enjoy a net
benefit from the activity that produces the pollution?
 Ecological ethic
 Social ecology
 Environmental injustice(82p)
 Eco-feminism

Question No: 20 ( Marks: 1 ) - Please choose one

23
Who argued that there is a fundamental human right to a livable
environment?
 William Blackstone(79p)
 Carol Gilligan
 Robert Nozzick
 John Locke

Question No: 21 ( Marks: 1 ) - Please choose one

Which of the following describes the saving or rationing natural
resources for future use?
 Consumption
 Conservation(87p)
 Reservation
 Destruction

Conservation refers to the saving or rationing of natural resources for later use.
Conservation, therefore, looks primarily to the future: to the need to limit
consumption now to have resources available for tomorrow.

Question No: 22 ( Marks: 1 ) - Please choose one

Critics to the market approach respond that the benefits of free
markets are obtained only when the markets have all of the
following characteristics, EXCEPT:
 There are numerous buyers and sellers
 There are external costs(97p)
 Everyone can freely enter and exit the market
 Everyone has complete and accurate information

Question No: 23 ( Marks: 1 ) - Please choose one

Which of the following is NOT a problem with the assumption of
rational utility maximization?
 Few people are good at estimating probabilities(97p)
 People are generally irrational and inconsistent when weighing the
choices

24
 Many consumer markets are monopolies or oligopolies
 Utility maximizer has a well-defined and consistent set of
preferences

Question No: 24 ( Marks: 1 ) - Please choose one

Our probability judgments go astray for a number of reasons,
including all EXCEPT:
 People believe that they exert control over purely chance events
 Generalizations are made on the basis of small sample findings
 Emphasis on "causation" results in the under weighing of
evidence that is relevant
 We forget to take the "law of averages" into account(97p)

Question No: 25 ( Marks: 1 ) - Please choose one

Which of the following statements could NOT be made by a
believer in ecological ethics?
 The world must be protected for the sake of human
beings(78p)
 The well-being of all the life on earth has value in itself
 Humans have no right to reduce the diversity of life except to
satisfy vital needs
 Appreciate the quality of life rather than striving for a higher
standard of living

Question No: 26 ( Marks: 1 ) - Please choose one

Which of the following statements is TRUE of the beliefs of deep
ecology?
 It is our moral duty to protect the human beings
 Non human parts of the environment deserve to be preserved
for their own sake(78p)
 Only human parts of the environment deserve to be respected
 The world must be protected for the sake of human beings

25
Question No: 27 ( Marks: 1 ) - Please choose one
According to critics of marker approach, how many
characteristics market will have to obtain the benefits of free
market?
 7(97p)
 5
 4
 3

the markets have all of the seven defining characteristics: (a) There are
numerous buyers and sellers, (b) everyone can freely enter and exit the market,
(c) everyone has full and perfect information, (d) all goods in the market are
exactly similar, (e) there are no external costs, (f) all buyers and sellers are
rational utility maximizers, and (g) the market is unregulated. Critics of the market
approach to consumer issues argue that these characteristics are absent in
consumer markets.

Question No: 28 ( Marks: 1 ) - Please choose one

Which of the following is the view that describes the relationship
between a firm and its customers where the firm’s
moral duties to the customer are those created by this contract?
 Contract view of business duties(101p)
 The duty of disclosure
 The due care theory
 None of the given options

Question No: 29 ( Marks: 1 ) - Please choose one

Which of the following is the main objection against the
assumptions of contractual theory?
 Unrealistic(103p)
 Impractical
 Concentrated on sellers only
 Concentrated on buyers only

Question No: 30 ( Marks: 1 ) - Please choose one

26
Which of the following is NOT a valid criticism on the ethics of
advertising?
 Advertising uses images that many find vulgar and offensive
 Advertising debases the tastes of consumers
 Advertising is wasteful
 Advertising promotes monopolies

Question No: 31 ( Marks: 1 ) - Please choose one

Deception involves all the following conditions necessary to be
possessed by the author of an ad, EXCEPT:
 The author must know it to be false
 The author must knowingly do something to bring about this false
belief
 The author must know it to be true(109p)
 The author must intend to have the audience believe something
false

Question No: 32 ( Marks: 1 ) - Please choose one

All of the following are deceptive or manipulative marketing
practices, EXCEPT:
 Multiple pricing
 Bait and switch selling
 Markdowns from a suggested retail price that is never charged
 Everyone can freely enter and exit the market

Question No: 33 ( Marks: 1 ) - Please choose one

Which of the following is a situation where demand always
exceeds supply?
 None of the given options
 Monopoly(98p)
 Perfect competition
 Free market

27
Question No: 34 ( Marks: 1 ) - Please choose one
Which of the following define that someone has a well defined
and consistent set of preferences, and who knows
how personal choices will affect those preferences?
 Utility maximization
 Rational utility maximizer(97p)
 Manufacturers utility
 None of the given options

Question No: 35 ( Marks: 1 ) - Please choose one

Which of the following is the period of time during which the
product will function as effectively as the consumer
is to lead to expect it to function?
 Reliability
 Service life
 Maintainability
 Product safety

Question No: 36 ( Marks: 1 ) - Please choose one

Which of the following describes the ease with which the
product can be repaired and kept in operating condition?
 Reliability
 Service life
 Maintainability
 Product safety

Question No: 37 ( Marks: 1 ) - Please choose one

Which of the following is NOT a benefit of having a code of
ethics?
 Supplier loyalty increases
 Managers get more confident
 Competitive positions improve
 Employee loyalty increases

28
Question No: 38 ( Marks: 1 ) - Please choose one
Which of the following is a legal doctrine that holds that
manufacturers must bear the costs of injuries resulting
from product defects regardless of fault?
 Manufacturers liability
 Consumers liability
 Strict liability(106p)
 Product liability

strict liability, is founded on utilitarian arguments. The utilitarian arguments for

this third theory hold that the “external” costs of injuries resulting from
unavoidable defects in the design of an artifact constitute part of
the cost society must pay for producing and using an artifact.

Question No: 39 ( Marks: 1 ) - Please choose one

Marketing ethic refers to which of the following?
 Improper behavior in marketing
 Acceptable conduct in society
 Improper behavior in business
 Acceptable conduct in marketing

Question No: 40 ( Marks: 1 ) - Please choose one

Which of the following is the result of effective advertising
campaigns on consumers, which gives large corporations
control over a major portion of the market?
 Brand loyalty
 Consumer protection
 Reliability
 None of the given options

Question No: 41 ( Marks: 1 ) - Please choose one

Which of the following is a proposed program where a large
scale publicly funded education program aimed at
empowering ordinary citizens?

29
 Investment in men
 Investment in women
 Investment in children
 Investment in non-humans

Question No: 42 ( Marks: 1 ) - Please choose one

Which of the following is the primary function of commercial
advertisements?
 Provide unbiased information
 Sell products to prospective buyers
 Provide biased information
 None of the given options

Question # 1 of 20 ( Start time: 04:44:20 PM ) Total Marks: 1

Suppose you purchased a product of ABC Company by inspiring an
advertisement. After purchasing decision you realized that the real
product functionalities are not matching with real one. Categories such
type of advertisement.
Select correct option:

Deceptive advertisement
Under estimated advertisement
Wrongly communicated advertisement
Professional advertisement

Question # 2 of 20 ( Start time: 04:45:45 PM ) Total Marks: 1

Socialist view on distribution is best described as:
Select correct option:

From each according to his ability, to each according to his needs...... 32

The benefits a person receives should be proportional to his contribution
From each they choose, to each as they are chosen
Always treat humanity as an end in itself rather than as a means

the socialist view on distribution: “From

30
each according to his ability, to each according to his needs.”

Question # 3 of 20 ( Start time: 04:46:59 PM ) Total Marks: 1

Who proposed the concept of free market and utility?
Select correct option:

John Locke
Alasdair MacIntyre
John Rawls
Adam Smith............50

Question # 4 of 20 ( Start time: 04:47:15 PM ) Total Marks: 1

Group of thinkers, sees the key form of hierarchy connected to the
destruction of the environment as the domination of women by men is
known as?
Select correct option:

Eco-feminists ................
Eco-masculinity
Both a & b
None of the above

Question # 5 of 20 ( Start time: 04:47:37 PM ) Total Marks: 1

EPA stands for?
Select correct option:

Environmental Protection Agreement

Energy Protection Agency
Energy Protection Agreement
Environmental Protection Agency.............75

The U.S. Environmental Protection Agency

(EPA)

Question # 6 of 20 ( Start time: 04:48:39 PM ) Total Marks: 1

Study which doest not try to reach any conclusions is called_________.
Select correct option:

31
Pilot Study
Case Study
Normative Study
Descriptive Study ..........5

A descriptive study is one that does not try to reach any

conclusions about what things are truly good or bad or right or wrong.

Question # 7 of 20 ( Start time: 04:49:16 PM ) Total Marks: 1

Internalizing the external cost is NOT consistent with which of the
following?
Select correct option:

Ethical justice
Retributive justice
Distributive justice
Compensatory justice

This way of dealing with pollution is consistent with the requirements of

distributive justice Internalizing external costs is also consistent with
retributive and compensatory justice.

Question # 8 of 20 ( Start time: 04:50:40 PM ) Total Marks: 1

Moral standards are absorbed from?
Select correct option:

Family & Friends

Experience
Intellectual capital
All of the above.........

moral standards are first absorbed as child from family, friends, and various
societal influences such as church, school, television, magazines, music, and
associations.

Question # 9 of 20 ( Start time: 04:51:21 PM ) Total Marks: 1

Caveat vendor represents to:
Select correct option:

32
 Let the buyer beware

Let the seller beware

Let the buyer and seller beware

None of the given options

The theory is a strong version of the doctrine of caveat vendor: let the seller take care.

Question # 10 of 20 ( Start time: 04:52:33 PM ) Total Marks: 1

Which of the following refers to the saving or rationing of natural
resources for later use?
Select correct option:

Preservation
Conservation ...........87
Fossilization
Depletion

Conservation refers to the saving or rationing of natural resources

for later use

Utilitarianis m suggests that it is ethical to make decisions based on:

Select correct option:

Moral virtues

Common decency

What is best for most people. Page 13

None of the given

33
 Utilitarianis m is a general term for any view that holds that actions and policies should
be evaluated on the basis of the benefits and costs they will impose on society. In any
situation, the "right" action or policy is the one that will produce the greatest net benefits
or the lowest net costs (when all alternatives have only net costs).

Who summarized the procedure for cost and benefit analysis?

Select correct option:

Adam Smith

Thomas Klein page 65

John Rawls

Samuel Johnson

Thomas Klein summarized the procedures for cost-benefit analysis as follows

Who is the world’s largest retailer?

Select correct option:

Proctor and Gamble

Wal-Mart page 4

Liver Brothers

Dashang Group

Wal-Mart, the world's largest retailer, had sales of $258.7 billion and 1,400,000
employees;

Inte rnalizing the external cost is NOT consistent with which of the following?

Select correct option:

Ethical justice page 64

Retributive justice

Distributive justice

Compensatory justice

34
This way of dealing with pollution is consistent with the requirements of distributive justice
Internalizing external costs is also consistent with retributive and compensatory justice

Which of the following views argues that prices and profits in highly concentrated
industries are higher than they should be?

Select correct option:

Anti-trust vie w page 53

Discrimination view

Unethical view

Unlawful view

The antitrust vie w argues that prices and profits in highly concentrated industries are
higher than they should be

Which of the following is NOT an objective of social audit?

Select correct option:

Scrutiny of various policy decisions

Estimation of the opportunity cost

Creating awareness among beneficiaries

Encourages local democracy page 69

Objectives of social audit

1. Assessing the physical and financial gaps between needs and resources available for
local development.
2. Creating awareness among beneficiaries and providers of local social and productive
services.
3. Increasing efficacy and effectiveness of local development programs.
4. Scrutiny of various policy decisions, keeping in view stakeholder interests and
priorities, particularly of rural poor.
5. Estimation of the opportunity cost for stakeholders of not getting time ly access to
public services.

A relationship that exhibits the virtues of compassion, love, friendship, and loyalty is the
example of which theory?

35
Select correct option:

Socialism

The ethics of care page 27

Communitarian ethics

Rawls justice and fairness

This is central to the point of view known as the ethics of care, an approach to ethics that
many feminist ethicists have recently advanced. According to this method, we have an
obligation to exercise special care toward the people with whom we have valuable, close
relationships. Compassion, concern, love, friendship, and kindness are all sentiments
or virtues that normally manifest this dimension of morality

Which of the following issues are not satisfied by utilitarianism?

Select correct option:

Justice

Right

Justice & Right

None of the above

Which of the following is not a feature of perfect competition?

Select correct option:

Buyers and sellers can freely and immediately enter or leave the market

All buyers and sellers are utility maximizes

There are numerous buyers and sellers, none of whom has a substantial share of the
market

External parties regulate the price, quantity, or quality of the goods being bought
and sold in the market page 45

1. There are numerous buyers and sellers, none of whom has a substantial share of the
market.
2. All buyers and sellers can freely and immediately enter or leave the market.

36
 3. Every buyer and seller has full and perfect knowledge of what every other buyer and
seller is doing, including knowledge of the prices, quantities, and quality of all goods
being bought and sold.
4. The goods being sold in the market are so similar to each other that no one cares from
whom each buys or sells.
5. The costs and benefits of producing or using the goods being exchanged are borne
entirely by those buying or selling the goods and not by any other external parties.
6. All buyers and sellers are utility maximizers: Each tries to get as much as possible for
as little as possible.
7. No external parties (such as the government) regulate the price, quantity, or quality of
any of the goods being bought and sold in the market.

“The possession of a livable environment is something to which every human being has a
right.” Who argued this statement?

Select correct option:

William T. Blackstone page 64

Lawrence Kohlberg

Carol Gilligan

Robert Nozick

William T. Blackstone has argued that the possession of a livable environment is

something to which every human being has a right.

Which one of the following asserts that morality varies from one culture to another?

Select correct option:

Ethical relativism

Norm relativism

Cultural relativism page 6

None of the above

Cultural relativism asserts that morality varies from one culture to another

37
Who argues that though it is unjust to impose heavy burdens on present generations for
the
sake of the future?

Select correct option:

John Rawls page 72

John Locke

Adam smith

None of the above

John Rawls, on the other hand, argues that though it is unjust to impose heavy burdens on
present generations for the sake of the future

The person's reasons for acting must be reasons that he or she would be willing to have
all
others use, even as a basis of how they treat him or her is known as?

Select correct option:

Reversibility page 21

Universalizability

Rule utilitarianism

None of the above

Reversibility means the person's reasons for acting must be reasons that he or she would
be willing to have all others use, even as a basis of how they treat him or her

Which of the following view can be seen as a middle ground between the othe r two?
Those who advocate this view do not wish to lose the economies of scale offered by large
corporations, but they also wish to ensure that large firms do not harm the consumers.

Select correct option:

Antitrust View

Regulation vie w page 54

Normative View

Business View

38
 The Regulation vie w, which can be seen as a middle ground between the other two.
Those who advocate regulation do not wish to lose the economies of scale offered by
large corporations, but they also wish to ensure that large firms do not harm the
consumers.

Shadow pricing is a technique which is used in?

Select correct option:

Accounting

Business Ethics

Management

None of the above

In a business application, a shadow price is the maximum price that management is willing to
pay for an extra unit of a given limited resource. For example, if a production line is already
operating at its maximum 40-hour limit, the shadow price would be the maximum price the
manager would be willing to pay for operating it for an additional hour, based on the benefits
he would get from this change.

Who argued that adve rtising me rely manipulates consumers, creating desires solely to
absorb industrial output?

Select correct option:

John Rawal

Adam Smith

John Kenneth Galbraith page 90

None of the above

John Kenneth Galbraith and other critics have long argued that advertising merely
manipulates
consumers, creating desires solely to absorb industrial output

Inte rnalizing external costs consistent with all except?

Select correct option:

Retributive justice

39
 Compensatory justice

Social justice page 64

None of the above

Internalizing external costs is also consistent with retributive and compensatory justice,

How many species of plant and animal inhabiting the planet?

Select correct option:

3 Million

2 Million page 59

1 Million

None of the above

The number of plant and animal species inhabiting the planet is not accurately known.
Nearly 2
million species have been identified,

Inte rnalizing the costs of pollution is problematic due to which of the following reasons?

Select correct option:

When several pollutants are involved, it is impossible to discover who is being

damaged by whom page 64

Pollution-control devices are expensive and can even put people out of work

External costs should be borne by the society as a whole

Market mechanisms cannot provide cost-cutting incentives to ensure that prices reflect
the true costs of production

A problem with this way of internalizing the costs of pollution, however, is that when
several polluters are involved,

Which one of the following is a source of absorbing moral standards?

Select correct option:

Family

40
 Friends

School

All of the above not s ure

Which of the following justify the theory of contractual view of business’ duties?

Select correct option:

Kant

Rawls

Adam Smith

Both Kant and Rawls page 84

Both Kant's and Rawls' theories offer justification for this view, and traditional moralists
also remind us that contracts are subject to three moral constraints

When a company charges different price to different buyers for the same goods or
services
then practice is known as?

Select correct option:

Retail Price Maintenance Agreements

Price Fixing

Price adjustment

Price Discrimination page 51

Price Discrimination - when a company charges different prices to different buyers for
the same goods or services.

Which principle of John Rawls assumes that a productive society will incorporate
inequalities?

Select correct option:

41
 Principle 1

Principle 2 page 25

Part a of principle 2

Part b of principle 2

Part of Principle 2 is called the diffe rence principle. It assumes that a productive society
will incorporate inequalities,

Definition of greenness includes all of the following EXCEPT:

Select correct option:

Animal welfare and species preservation

Prohibition of smoking at work place

Conservation of energy

Flourishing of the nonhuman life on the earth not sure

Utilitarianis m lies under which of the following ethical theories?

Select correct option:

Virtue

Intuitionism

Deontological

Teleological

It can be contrasted with deontological ethics

Privacy is an example of?

Select correct option:

Positive right

Basic need

Negative right page 19

42
 None of the above

How many essential components of Moral reasoning are?

Select correct option:

2 page 10

None of the above

Moral reasoning itself has two essential components

Which one of the following is not a type of market?

Select correct option:

Free market

Monopolistic market

Oligopolistic market

Mixed market

Substances that can increase mortality rates are known as?

Select correct option:

Toxic substances page 59

Intoxic substances

Agri substances

None of the above

The pollution of the land by toxic substances also causes increased mortality and illness

When a person is entitled to act in a certain way or is entitle d to have others act in a
certain way toward him or her is known as?

Select correct option:

43
 Right page 18

Justice

Basic needs

None of the above

In general, a right is a person's entitlement to something; one has a right to something

when one
is entitled to act a certain way or to have others act in a certain way towards oneself

Forced selling and forced buying are the main features of which economic system?

Select correct option:

Mixed economy

Free Economy

Controlled economy

None of the above

The costs of pollution control are borne by?

Select correct option:

Stockholders

Customers

Both a & b

None of the above

Which one is the justice concern of blaming or punishing persons for doing wrong?

Select correct option:

Distributive justice

Redistributive justice

Compensatory justice

None of the given page 26

44
 Retributive justice concerns blaming or punishing those who do wrong

Who proposed that human beings have a "natural right" to liberty and a "natural
right" to private property?

Select correct option:

John Locke page 31

Alasdair MacIntyre

John Rawls

None of the above

John Locke (1632-1704), an English political philosopher, is generally credited with

developing the idea that human beings have a "natural right" to liberty and a "natural
right" to private property.

The destruction of nature that has accompanied male domination must be replaced with
caring and nurturing of relationships with nature is known as?

Select correct option:

Ethics of utility

Ethics of justice

Ethics of caring page 68

None of the above

According to the ethics of caring, the destruction of nature that has accompanied male
domination must be replaced with caring for and nurturing our relationships with nature
and
other living things

Which of the following is included in due care theory?

Select correct option:

Marketing

Logistic

Design page 85

45
 None of the above

Due care must enter into the product's design, choice of materials and construction methods

Group of thinkers, sees the key form of hierarchy connected to the destruction of the
environme nt as the domination of women by me n is known as?

Select correct option:

Eco-fe minists page 68

Eco- masculinity

Both a & b

None of the above

Eco- feminists, a related group of thinkers, see the key form of hierarchy connected to the
destruction of the environment as the domination of women by men

When companies agree to set prices artificially high the practice is known as?

Select correct option:

Retail Price Maintenance Agreements

Price Fixing page 51

Price adjustment

Price Discrimination

Price Fixing - when companies agree to set prices artificially high.

Who has used the theory of natural right by Locke to argue for free market?

Select correct option:

Adam smith

John Locke

Friedrich A. Hayek page 35

Alasdair MacIntyre

Wate r pollution comes from all except?

46
Select correct option:

Agriculture

Oil Wells

Manufacturing

All of the above page 59

Pollution comes from agriculture, mines, oil wells, human wastes,manufacturing,

detergents, and the food industry, among other sources

Which one of the following is a component of free market systems?

Select correct option:

Private property system

Involuntary exchange system

Command system

None of the given

Free market systems have two main components: a private property system and a
voluntary
exchange system

Which of the following is an economic system in which the means of production are
privately owned and operated for a profit?

Select correct option:

Communism

Capitalis m

Liberalism

Socialism

Which of the following is the practice of “adopting resource -conserving and

environme ntally-friendly strategies in all stages of the value chain”?

Select correct option:

47
 Green marketing page 67

Red marketing

Industrial marketing

FMCG marketing

Green marketing is the practice of “adopting resource-conserving and environmentally

friendly
strategies in all stages of the value chain

"Act in such a way that "you always treat humanity, whether in your own person or in
the
person of any other, never simply as a means, but always at the same time as an end."
said
by?

Select correct option:

John Rawal

Kant page 21

Carol Gilligan

None of the above

The second formulation Kant gives of the categorical imperative is this: "Act in such a
way that
you always treat humanity, whether in your own person or in the person of any other,
never
simply as a means, but always at the same time as an end."

In which Year Township and village enterprises (TVEs) legalized?

Select correct option:

1974

1984 page 44

1994

2004

Township and village enterprises (TVEs) obtained materials, labor, and capital on open
market and used a private distribution system. Legalized in 1984,

48
Who has stated the principle of comparative advantage?

Select correct option:

Adam Smith

David Ricardo page 36

Eli Heckscher

Bertil Ohlin

Which of the following is not an objection of contractual theory?

Select correct option:

A contact is two-edged s word page 85

The assumption that buyer and seller meet each other as equals in the sale agreement

Manufacturers do not make direct agreements with consumers

None of the above

Which state ment reflects the "punishme nt and obedience orientation" stage (stage one)
of
moral development?

Select correct option:

I don't steal because my friends don't steal

I don't steal because I don't want to be spanked

I don't steal because it would harm society as a whole

I don't steal because it wouldn't be fair to everyone else if I did

“When in Rome, do as the Romans do” is associated with:

Select correct option:

Cultural Relativism

Ethical Relativis m page 6

49
 Descriptive Relativism

Epistemological Relativism

Which theory states that consumers and sellers do not meet at equal levels?

Select correct option:

Due care theory page 85

Contractual theory

Justice theory

Utilitrian theory

The due care theory of the manufacturer's duties to consumers is based on the idea that
consumers and sellers do not meet as equals

______is defined as Tendency to make ethical choices only on the basis of what looks
right
or reasonable according to one's own belief or value system.

Select correct option:

Ethical Relativis m

Cultural Relativism

Descriptive Relativism

Epistemological Relativism

A tendency to make ethical choices only on the basis of what looks right or reasonable
according to one's own belief or value system.

The main diffe rence between Gilligan and Kohlberg was that Gilligan e mphasized?

Select correct option:

Justice and fairness

Care and interpersonal relationships

Role-taking and empathy

The moral superiority of women page 9

50
 Carol Gilligan, a feminist psychologist, has also criticized Kohlberg's theory on the
grounds
that it describes male and not female patterns of moral development. Gilligan claims that
there
is a "female" approach to moral issues that Kohlberg ignores.

How much in over the past 150 years, deforestation has contributed to the atmos phe ric
build-up of CO2?

Select correct option:

One third page 59

Two third

One fourth

None of the above

Over the past 150 years, deforestation has contributed one third of the atmospheric build-
up of
CO2,

Which theory was proposed by David Ricardo in 1817?

Select correct option:

Natural advantage

Comparative advantage page 36

Acquired advantage

Resource efficiency advantage

Comparative Advantage:
In 1817 David Ricardo reasoned.

Suppose you purchased a product of ABC Company by ins piring an advertisement.

After purchasing decision you realized that the real product functionalities are not
matching with real one. Categories such type of advertisement.

Select correct option:

51
Deceptive advertisement page 116

Under estimated advertisement

Wrongly communicated advertisement

Professional advertisement

Deceptive advertising can take several forms. An advertisement can

misrepresent the nature of the product by using deceptive mock-ups, using
untrue paid testimonials, inserting the word guarantee where nothing is
guaranteed, and quoting misleading prices, failing to disclose defects in a
product, misleadingly disparaging a competitor’s goods, or simulating well-known
brand names

Socialist vie w on distribution is best described as:

Select correct option:

From each according to his ability, to each according to his needs page 33

The benefits a person receives should be proportional to his contribution

From each they choose, to each as they are chosen

Always treat humanity as an end in itself rather than as a means

The socialist view on distribution: “From each according to his ability, to each
according to his needs.”

Who proposed the concept of free market and utility?

Select correct option:

John Locke

Alasdair MacIntyre

John Rawls

Adam Smith page 49

Free Markets and Utility: Adam Smith

EPA stands for?

52
Select correct option:

Environmental Protection Agreement

Energy Protection Agency

Energy Protection Agreement

Environmental Protection Agency page 76

The U.S. Environmental Protection Agency (EPA), which conducted these

studies, is evaluating the possible human health risks of PFOA

Study which doest not try to reach any conclusions is called_________.

Select correct option:

Pilot Study

Case Study

Normative Study

Descriptive Study page 6

A descriptive study is one that does not try to reach any conclusions about
what things are truly good or bad or right or wrong. Instead, a descriptive study
attempts to describe or explain the world without reaching any conclusions about
whether the world is as it should be

Moral standards are absorbed from?

Select correct option:

Family & Friends

Experience

Intellectual capital

All of the above.........

Caveat vendor represents to:

Select correct option:

53
Let the buyer beware

Let the seller beware

Let the buyer and seller beware

None of the given options page 107

The theory is a strong version of the doctrine of caveat vendor: let the seller
take care.

Which of the following refers to the saving or rationing of natural resources for
later use?

Select correct option:

Preservation

Conservation page 88

Fossilization

Depletion

Conservation refers to the saving or rationing of natural resources for later use

Commodities that are considered valuable only because they lead to other good
things are called:

Select correct option:

Instrumental goods page 22

Instrumental values

Intrinsic goods

Intrinsic values

Intrinsic goods are things that are desired for their own sake, such as health
and life. These goods always take precedence over instrumental goods, which
are things that are good because they help to bring about an intrinsic good

54
Which one of the following quoted about adve rtising "promise, large promise, is the
soul of advertising".

Select correct option:

David oglivy

Kant

Samuel Johnson

None of the above

Jul 17, 2007 - Morris Hite, quoted in Adman: Morris Hite's Methods for Winning the Ad
Game – 1988. “Promise, large promise, is the soul of Advertising”.

The behavior respects the basic rights of the individuals involved and whether the
behavior is consistent with one's agreements and special duties is referred as?

Select correct option:

Standards of justice

Standards of caring

Standards that specify how individuals must be treated page 38

None of the above

Standards that specify how individuals must be treated - must be employed when our
actions and policies will substantially affect the welfare and freedom of specifiable
individuals. Moral reasoning of this type forces consideration of whether the behavior
respects the basic rights of the individuals involved and whether the behavior is
consistent with one's agreements and special duties

How many types of chemical compounds are currently being used in the USA?

Select correct option:

50,000

55,000

58,000 page 75

60,000

55
Over 58,000 different chemical compounds are currently being used in the U.S.,
and the number is increasing each year

Lite rally the word ethics stand for :

Select correct option:

Understanding human nature

Study of morality page 3

Properties of chemical substances

Both 2 & 3

Ethics is "the study of morality." Ethicists use the term ethics to refer primarily to
the study of morality.

Which one of the country has more individualistic culture?

Select correct option:

Pakistan

Japan

USA page 31

None of the above

Also interestingly, workers in countries such as Japan, which is characterized as

having more collectivist culture, prefer the principles of equality more than
workers in countries such as the United States, which is characterized as having
a more individual culture

Fossil fuels include all except?

Select correct option:

Oil

Coal

Wind

56
Natural gas

Who argued that mis representation in the making of a contract cannot be

universalized?

Select correct option:

Rawls

Kant page 101

Adam Smith

None of the given options

Kant, for example, easily shows that misrepresentation in the making of a

contract cannot be universalized

Ozone is a protective layer in atmos phe re is made of?

Select correct option:

Methane gas

Carbon Dioxide gas

Oxygen gas

None of the above

Which of the following are components of free market systems?

Select correct option:

Private property system

Voluntary exchange system

Both a & b page 43

None of the above

Free market systems have two main components: a private property system and
a voluntary exchange system.

57
Which one of the following is a type of moral standards?

Select correct option:

Utilitarianism

Rights

Justice

All of the above

Which of the following is the most influential critic of Adam Smith?

Select correct option:

John Hicks

Maynard Keynes page 51

Herbert Spencer

Charles Darwin

One especially influential critic of Smith was John Maynard Keynes

When a company sells to a retaile r only on condition that the retaile r will not
purchase products from other companies and will not sell outside a certain
geographical area is known as?

Select correct option:

Tying Arrangements

Exclusive Dealing Arrange ments page 64

Retail Price Maintenance Agreements

None of the above

Exclusive Dealing Arrangements - when a company sells to a retailer only on

condition that the retailer will not purchase products from other companies and/or
will not sell outside a certain geographical area.

58
A natural gas leak explosion happened in New London School of Texas in which
year?

Select correct option:

1917

1927

1937 page 94

None of the above

In 1937, a natural gas leak was responsible for the New London School
explosion in Texas

Costs of the resources consumed in producing a product are known as?

Select correct option:

Production cost page 109

Selling cost

Total cost

None of the above

Production costs are the costs of the resources consumed in producing a

product

The aim of the moral life is to develop the dispositions that we call virtues, and to
exercise them as well is referred to as?

Select correct option:

Ethics theory

Relationship theory

Virtue theory page 40

None of the above

Virtue theory says that the aim of the moral life is to develop the dispositions
that we call virtues, and to exercise them as well

59
Which one of the following is the principal Utilitarian remedy for pollution?

Select correct option:

To inte rnalize external costs of production page 82

To externalize internal costs of production

To minimize the total social cost of production

To maximize the total social cost of production

The remedy for external costs, according to utilitarian’s, is to internalize them to

ensure that the producer pays all of the real costs of production and uses these
costs to determine the price of the commodity

Which of the following de mands that manufacturer should pay the costs of all
injuries caused by defect in a product even if exercised due care?

Select correct option:

Due care theory

Contractual theory

Social costs view page 106

Advertising ethics

On this basis, the theory argues that a manufacturer should bear the social costs
for injuries caused by defects in a product even when no negligence was
involved and no contractual relationship existed between the manufacturer and
user.

Which one of the following lie at the core of the most serious ecological dislocations?

Select correct option:

Economic

Ethnic

Gender conflicts

60
All of the above page 86

Economic, ethnic, cultural, and gender conflicts, among many others, lie at the
core of the most serious ecological dislocations we face today

Environmental ethics is the discipline that studies the moral relationship of?

Select correct option:

Human beings

Environment

Both a & b page 69

None of the above

Environmental ethics is the discipline that studies the moral relationship of

human beings to, and also the value and moral status of, the environment and its
nonhuman contents

Which one of the following is not considered as part of the three stages of moral
development proposed by Carol Gilligan?

Select correct option:

Social Contract Orientation page 11

Principled morality

Conventional morality

Progressing from selfish

She outlines three stages of moral development progressing from selfish, to

social or conventional morality, and finally to post conventional or principled
morality

Relationship between a business firm and consume r essentially be?

Select correct option:

Forced relationship

61
Contractual relationship page 102

Due care relationship

None of the above

The relationship between a busi ness firm and its customers is essentially a
contractual relationship

How many moral duties, contractual theory has defined?

Select correct option:

4 page 103

Hence, the contractual theory of business’ duties to consumers clams that a

business has four main moral duties

Which of the following are called excusing conditions?

Select correct option:

Ignorance

Inability

Both a & b page 16

None of the above

Ignorance and inability to do otherwise are two conditions, called excusing

conditions

Which of the following refers to the reasoning process by which human behaviors,
institutions, or policies are judged to be in accordance or not with moral standards?

Select correct option:

Moral reasoning page 13

62
Moral duty

Moral justice

None of the above

Moral reasoning refers to the reasoning process by which human behaviors,

institutions, or policies are judged to be in accordance with or in violation of moral
standards.

In monopolistic markets?

Select correct option:

There are only few sellers

There is only one seller page 62

There are many sellers

None of the above

In a monopoly, two of the seven conditions are absent: there is only one seller,
and other sellers cannot enter the market

Which of the following objection placed by Robert Nozick on Kant’s thepry?

Select correct option:

Libertarian objection page 29

Reversibility objection

Universalizability objection

None of the above

The Libertarian objection: Nozick

Saving of finite and depletable resources of the world is known as?

Select correct option:

Consumerism

63
Conversion

Conservation page 88

None of the above

Generally, conservation refers to the saving of finite, depletable resources

Which philosopher of utilitarianis m presents the cost-benefit analysis?

Select correct option:

Aristotle

Mill

Kant

Bentham page 19

Cost-Benefit Analysis
Bentham's idea of a precise quantitative method for decision making is most fully
realized in a cost-benefit analysis

When there are nume rous buyers and sellers, none of whom has a substantial share
of the market, and then such system is known as?

Select correct option:

Perfect competition page 58

Monopoly

Oligopoly

None of the above

Perfect Competition
In a perfectly free competitive market, no buyer or seller has the power to
significantly affect the price of a good. Seven features characterize such markets:
1. There are numerous buyers and sellers, none of whom has a substantial share
of the market.

For internalization of the cost of pollution, a firm has to pay?

64
Select correct option:

Do not pay all those harmed by pollution

Pay half of all those harmed by pollution

Pay all those harme d by pollution page 82

None of the above

To internalize the costs of pollution, a firm ma y be required to pay all those

harmed by pollution.

All of the following are reasons to show that future generations have no rights on
world’s resources, EXCEPT:

Select correct option:

Future generations cannot intelligently be said to have rights

Someone only has a right if he/she has certain interest.........

It is absurd that we must sacrifice our entire civilization for their sake

It is unjust for present generations to leave nothing for future generations page 87,
88

Which one of the following pointed out by von Hayek?

Select correct option:

Advertising merely manipulates consumers

Advertising is responsible for the growing economy

Psychic wants have been around longer than advertising in any case page 110

None of the above

It is not clear, however, that this view is correct, and theorists such as F. A. von
Hayek have pointed out that psychic wants have been around longer than
advertising in any case.

The type with which one looks only at moral rules or actions of a particular type is
known as?

65
Select correct option:

Rule utilitarianism page 22

Utilitarianism

Both a & b

None of the above

Largely in response to these concerns, utilitarian’s have devised an alternative

version, called rule utilitarianism. In this version, instead of looking at individual
acts to see whether they produce more pleasure than the alternatives, one looks
only at moral rules at actions of a particular type.

Through utilitarianis m offers a clear-cut method of calculating morality. What are

the numbe rs of problems identified in this method?

Select correct option:

In which of the following scenarios is an unethical payment clearly being made?

Select correct option:

A payment made to induce the payee to perform what is his or her official duty

A payme nt made to a payee who de mands the payment by threatening injury to the
payer's inte rests

A payment made to bribe an official, but this is a locally accepted public custom

No payment has been made unethically

Which of the following laws have no conce rn with morality?

Select correct option:

66
Parking laws

Dress codes law

Both a & b

None of the above

The idea that moral rightness or wrongness is culture-dependent is an example of

Select correct option:

Moral relativism

Moral absolutism

Categorical imperative

Universality

Which of the following views argues that prices and profits in highly concentrated
industries are higher than they should be?

Select correct option:

Anti-trust vie w page 66

Discrimination view

Unethical view

Unlawful view

The antitrust view argues that prices and profits in highly concentrated
industries are higher than they should be

Which of the following school of thought support the view point of ecological ethic
that the welfare of at least some nonhumans is intrinsically valuable and deserving
of respect and protection?

Select correct option:

Utilitarian

67
Rights

Both Utilitarian and rights page 79

None of the given options

An ecological ethic, therefore, claims that the welfare of at least some

nonhumans is intrinsically valuable and deserving of respect and protection.
Utilitarian and rights arguments both support such a view

The world population may reach to 9 billion by the year?

Select correct option:

2022

2035

2043 page 69

2050

World population may reach

7 billion in 2012 (13 years later)
8 billion in 2026 (14 years later)
9 billion in 2043 (17 years later)

Which of the following is the largest organization for the calculation of data on
environme nt?

Select correct option:

Club of Rome

World Watch Institute page 69

GEF

UINDO

The kind of care that is owed to those with whom we have special concrete
relationships is known as?

68
Select correct option:

Utilitarian standards

Standards of justice

Standards of caring page 38

None of the above

Standards of caring - indicate the kind of care that is owed to those with whom
we have special concrete relationships.

Weighing Social Costs and Benefits is a technique used in?

Select correct option:

Justice concept

Right concept

Caring concept

Utilitarianis m concept page 17

Utilitarianism: Weighing Social Costs and Benefits

Which of the following state ment is CORRECT about social audit?

Select correct option:

A report of social costs of firm’s activities

A report of social benefits of firm’s activities

A report of social costs and social benefits of firm’s activities page 84

None of these statements is correct

Social audit (a report of the social costs and social benefits of the firm’s
activities).

The benefits of pollution control should flow to those who have had to bear?

Select correct option:

69
Internal cost of pollution

External costs of pollution page 82

Both a & b

None of the above

The benefits of pollution control should flow to those who have had to bear the
external costs of pollution.
Which one of the following a moral reason of contractual theory of business ?

Select correct option:

Compliance duty

Misrepresentation duty

Coerce duty page 103

All of the above

The book “Limits to Growth” published in how many languages?

Select correct option:

30

32

35

37 page 91

One of the best known warning voices was contained in the book "Limits to
Growth", published in 1972. It sold twelve million copies in 37 languages.

Question # 12 of 20 ( Start time: 04:54:10 PM ) Total Marks: 1

Which one of the following quoted about advertising "promise,large
promise,is the soul of advertising".
Select correct option:

David oglivy

70
Kant
Samuel Johnson
None of the above ...........

Jul 17, 2007 - Morris Hite, quoted in Adman: Morris Hite's Methods for
Winning the Ad Game – 1988. “Promise, large promise, is the soul of
Advertising”.

Question # 16 of 20 ( Start time: 04:58:06 PM ) Total Marks: 1

Literally the word ethics stand for
Select correct option:

Understanding human nature

Study of morality ...........2
properties of chemical
substances
Both 2 & 3

Ethics is
"the study of morality."
60,000

Question # 17 of 20 ( Start time: 04:59:27 PM ) Total Marks: 1

Which one of the country has more individualistic culture?
Select correct option:

Pakistan
Japan
USA .............30
None of the above

Alsointerestingly, workers in countries such as Japan,

whichis characterizedas having morecollectivistculture,prefer theprinciplesof
equalitymore
than workers in countries such as the United States, which is
characterized as having a more
individualculture.

71
Question # 18 of 20 ( Start time: 05:00:38 PM ) Total Marks: 1
Fossil fuels include all except?
Select correct option:

Oil
Coal
Wind ...........
Natural gas

Question # 19 of 20 ( Start time: 05:01:24 PM ) Total Marks: 1

Who argued that misrepresentation in the making of a contract cannot
be universalized?
Select correct option:

Rawls
Kant.........101
Adam Smith
None of the given options

Question # 5 of 20 ( Start time: 03:49:58 PM ) Total Marks: 1

Which of the following are components of free market systems?
Select correct option:

Private property system

Voluntary exchange system
Both a & b............ 42
None of the above

Free market systems have two main components: a private

property system and a voluntary exchange system.

Question # 7 of 20 ( Start time: 03:51:40 PM ) Total Marks: 1

72
Which of the following is the most influential critic of Adam Smith?
Select correct option:

John Hicks
Maynard Keynes...........50
Herbert Spencer
Charles Darwin

One especially influential critic of Smith was John Maynard

Keynes.

Question # 8 of 20 ( Start time: 03:52:14 PM ) Total Marks: 1

When a company sells to a retailer only on condition that the retailer
will not purchase products from other companies and will not sell
outside a certain geographical area is known as?
Select correct option:

Tying Arrangements
Exclusive Dealing Arrangements ..........63
Retail Price Maintenance Agreements
None of the above

Exclusive Dealing Arrangements - when a company sells to a

retailer only on condition that the retailer will not purchase
products from other companies and/or will not sell outside a certain
geographical area.

Question # 9 of 20 ( Start time: 03:53:08 PM ) Total Marks: 1

A natural gas leak explosion happened in New London School of Texas in
which year?
Select correct option:

1917
1927
1937 .........93
None of the above

73
In 1937, a natural gas leak was responsible for the New London
School explosion in Texas.

Question # 10 of 20 ( Start time: 03:54:29 PM ) Total Marks: 1

Costs of the resources consumed in producing a product is known as?
Select correct option:

Production cost ...........107

Selling cost
Total cost
None of the above

Production costs are the costs of the resources consumed in producing a

product. Selling costs are the additional costs of resources that do not
go into the product itself, but rather are incurred as a result of
persuading consumers to purchase it.

Question # 11 of 20 ( Start time: 03:55:20 PM ) Total Marks: 1

The aim of the moral life is to develop the dispositions that we call virtues,
and to exercise them as well is referred to as?
Select correct option:

Ethics theory
Relationship theory
Virtue theory .......39
None of the above

Virtue theory says that the aim of the moral life is to develop
the dispositions that we call
virtues, and to exercise them as well.

Question # 13 of 20 ( Start time: 03:56:52 PM ) Total Marks: 1

Which of the following demands that manufacturer should pay the costs of
all injuries caused by defect in a product even if exercised due care?
Select correct option:

74
Due care theory
Contractual theory
Social costs view ...106
Advertising ethics

On this basis, the theory argues that a manufacturer should bear the
social costs for injuries caused by defects in a product even when no
negligence was involved and no contractual relationship existed
between the manufacturer
anduser.

Question # 14 of 20 ( Start time: 03:58:19 PM ) Total Marks: 1

Which one of the following lie at the core of the most serious ecological
dislocations?
Select correct option:

Economic
Ethnic
Gender conflicts
All of the above.........85

To make this point more concrete economic, ethnic, cultural, and

gender conflicts, among many others, lie at the core of the most serious
ecologi caldislocations

Question # 16 of 20 ( Start time: 04:00:41 PM ) Total Marks: 1

Which of the following is a related group of thinkers, sees the key form of
hierarchy connected to the destruction of the environment as the domination
of women by men?
Select correct option:

Ethicists
Eco feminists ...........86
Friends of earth
Friends of world watch

Eco-feminists, a related group of thinkers, sees the

75
key form of hierarchy connected to the destruction of the
environment as the domination of women by men.

Question # 17 of 20 ( Start time: 04:01:24 PM ) Total Marks: 1

Which theory states that consumers and sellers do not meet at equal levels?
Select correct option:

Due care theory ...103

Contractual theory
Justice theory
Utilitrian theory

The “due care” theory of the manufacturer’s duties to consumers

is based on the idea that consumers and sellers do not meet as
equals

Question # 18 of 20 ( Start time: 04:02:48 PM ) Total Marks: 1

All of the following are the critics of contractual theory, EXCEPT:
Select correct option:

Assumptions are unrealistic

Buyer and seller meet on equal ground is false

Buyer and seller meet on equal ground is false

Buyer and seller meet on equal ground .........103

Finally, critics of this theory point out that the assumption that
buyer and seller meet on equal ground is false. Buyers and
sellers are not equally skilled; the seller is in a much stronger
position than the buyer. Sellers only have to know their own
products, while buyers need to know about every sellers’ products for
every commodity they purchase.

Question # 19 of 20 ( Start time: 04:04:13 PM ) Total Marks: 1

Environmental ethics is the discipline that studies the moral relationship of?
Select correct option:

76
Human beings
Enviornment
Both a & b ............68
None of the above

Environmental ethics is the discipline that studies the moral

relationship of human beings to, and also the value and moral status
of, the environment and its nonhuman contents.

Question # 20 of 20 ( Start time: 04:05:03 PM ) Total Marks: 1

Which one of the following is not considered as part of the three stages of
moral development proposed by Carol Gilligan?
Select correct option:

Social Contract Orientation ......9

principled morality
conventional morality
progressing from selfish

She outlines three stages of moral development progressing from

selfish, to social or conventional morality, and finally to post
conventional or principled morality.

Question # 2 of 20 ( Start time: 02:47:34 PM ) Total Marks: 1

How many moral duties, contractual theory has defined?
Select correct option:

1
2
3
4.........102

Question # 3 of 20 ( Start time: 02:48:02 PM ) Total Marks: 1

Which of the following is included in due care theory?
Select correct option:

Marketing
Logistic

77
Design
None of the above ...........105

Question # 4 of 20 ( Start time: 02:49:05 PM ) Total Marks: 1

Which of the following are called excusing conditions?
Select correct option:

Ignorance
Inability
Both a & b ...........15
None of the above
Ignorance and inability to do otherwise are two conditions,
called excusing conditions,

Question # 5 of 20 ( Start time: 02:49:42 PM ) Total Marks: 1

Which of the following refers to the reasoning process by which human
behaviors, institutions, or policies are judged to be in accordance or notwith
moral standards?
Select correct option:

Moral reasoning .....12

Moral duty
Moral justice
None of the above
Moral reasoning refers to the reasoning process by which human
behaviors, institutions, or policiesare judged to be inaccordance withor in
violation ofmoralstandards

Question # 8 of 20 ( Start time: 02:52:14 PM ) Total Marks: 1

Saving of finite and depletable resources of the world is known as?
Select correct option:

consmerism
conversion
conservation .............87
None of the above

78
 Generally, conservation refers to the saving of finite, depletable
resources.

Question # 11 of 20 ( Start time: 02:55:50 PM ) Total Marks: 1

Whan there are numerous buyers and sellers, none of whom has a
substantial share of the market,then such system is known as?
Select correct option:

Perfect competition ........57

Monopoly
Oligopoly
None of the above

Question # 13 of 20 ( Start time: 02:57:44 PM ) Total Marks: 1

All of the following are reasons to show that future generations have no
rights on world’s resources, EXCEPT:
Select correct option:

Future generations cannot intelligently be said to have rights

Someone only has a right if he/she has certain interest.........
It is absurd that we must sacrifice our entire civilization for their sake
It is unjust for present generations to leave nothing for future generations

Question # 14 of 20 ( Start time: 02:58:55 PM ) Total Marks: 1

Which one of the following pointed out by von Hayek?
Select correct option:

Advertising merely manipulates consumers

advertising is responsible for the growing
economy
Psychic wants have been around longer than advertising in any case
...........109
None of the above

F. A. von Hayek have pointed out that

psychicwants have beenaround longerthan advertisinginanycase.

79
The most common criticism of advertising concerns is its effect

Question # 15 of 20 ( Start time: 02:59:51 PM ) Total Marks: 1

The type with which one looks only at moral rules or actions of a
particular type is known as?
Select correct option:

Rule utilitarianism .........

Utilitarianism
Both a & b
None of the above

Question # 16 of 20 ( Start time: 03:01:11 PM ) Total Marks: 1

Through utilitarianism offers a clear-cut method of calculating
morality. What are the number of problems identified in this method?
Select correct option:

5 ........20
4
3
2

Question # 18 of 20 ( Start time: 03:37:18 PM ) Total Marks: 1

Which of the following is the most influential critic of Adam Smith?
Select correct option:

John Hicks

Maynard Keynes............50
Herbert Spencer
Charles Darwin
One especially influential critic of Smith was John Maynard
Keynes.

Question # 19 of 20 ( Start time: 03:37:57 PM ) Total Marks: 1

In which of the following scenarios is an unethical payment clearly
being made?
Select correct option:

80
 A payment made to induce the payee to perform what is his or her official
duty
A payment made to a payee who demands the payment by threatening
injury to the payer's interests .............
A payment made to bribe an official, but this is a locally accepted public
custom
No payment has been made unethically

Question # 20 of 20 ( Start time: 03:39:21 PM ) Total Marks: 1

Which of the following laws have no concern with morality?
Select correct option:

Parking laws
Dress codes law
Both a & b ...........14
None of the above

Question # 1 of 20 ( Start time: 04:12:10 PM ) Total Marks: 1

Which of the following view can be seen as a middle ground between the
other two? Those who advocate this view do not wish to lose the
economies of scale offered by large corporations, but they also wish to
ensure that large firms do not harm the consumers.
Select correct option:

Antitrust View
Regulation view .....66
Normative View
Business View

The third view is the Regulation view, which can be seen as a

middle ground between the other two. Those who advocate regulation do
not wish to lose the economies of scale offered by large corporations, but
they also wish to ensure that large firms do not harm the
consumers.

Question # 2 of 20 ( Start time: 04:13:16 PM ) Total Marks: 1

81
The idea that moral rightness or wrongness is culture-dependent is an
example of
Select correct option:

Moral relativism ????????? 12

Moral absolutism
Categorical imperative
Universality

Moral judgmenton ther ightness or wrongness of the policy institution, or

behavior.

Question # 3 of 20 ( Start time: 04:14:45 PM ) Total Marks: 1

Which of the following views argues that prices and profits in highly
concentrated industries are higher than they should be?
Select correct option:

Anti-trust view ...........65

Discrimination view

Unethical view

Unlawful view

Second, the antitrust view argues that prices and profits in highly
concentrated industries are
higher than they should be

Question # 4 of 20 ( Start time: 04:15:35 PM ) Total Marks: 1

In which type of competition one can freely and immediately enter or
leave the market?
Select correct option:

Perfect competition ....97

Monopoly

82
Oligopoly
None of the above

b) everyone can freely enter and exit the market,

Question # 5 of 20 ( Start time: 04:16:31 PM ) Total Marks: 1

How many types of chemical compounds are currently being used in the
USA?
Select correct option:

50,000

55,000

58,000 .............74

60,000

Over 58,000 different chemical compounds are currently being used

in
the U.S.,

Question # 6 of 20 ( Start time: 04:17:40 PM ) Total Marks: 1

Which of the following school of thought support the view point of
ecological ethic that the welfare of at least some nonhumans is
intrinsically valuable and deserving of respect and protection?
Select correct option:

Utilitarian

Rights

Both Utilitarian and rights ..............78

None of the given options

83
 An ecological ethic, therefore, claims that the welfare of at least
some nonhumans is
intrinsically valuable and deserving of respect and protection.
Utilitarian and rights arguments
both support such a view.

Question # 7 of 20 ( Start time: 04:18:36 PM ) Total Marks: 1

The world population may reach to 9 billion by the year?
Select correct option:

2022
2035
2043 ......68
2050

9 billionin 2043 (17 yearslater)

Question # 8 of 20 ( Start time: 04:19:55 PM ) Total Marks: 1

Which of the following is the largest organization for the calculation of
data on environment?
Select correct option:

Club of Rome
World Watch Institute ????not sure
GEF
UINDO

Question # 9 of 20 ( Start time: 04:21:23 PM ) Total Marks: 1

The kind of care that is owed to those with whom we have special
concrete relationships is known as?
Select correct option:

Utilitarian standards
Standards of justice
Standards of caring ....37
None of the above

84
Standards of caring - indicate the kind of care that is owed to
those with whom we
have special concrete relationships. Standards of caring are
essential when moral
questions arise that involve persons embedded in a web of
relationships, particularly
persons with whomone has closerelationships,especiallythose of
dependency.

Question # 10 of 20 ( Start time: 04:22:11 PM ) Total Marks: 1

Which one of the following is a component of free market systems?
Select correct option:

Private property system.....42

Involuntary exchange system

Command system

None of the given

Free market systems have two main components: a private

property system and a voluntary
exchange system.

Question # 11 of 20 ( Start time: 04:23:30 PM ) Total Marks: 1

Weighing Social Costs and Benefits is a technique used in?
Select correct option:

Justice concept
Right concept
Caring concept
Utilitarianism concept .....16

Question # 12 of 20 ( Start time: 04:24:53 PM ) Total Marks: 1

Which of the following statement is CORRECT about social audit?
Select correct option:

A report of social costs of firm’s activities

85
A report of social benefits of firm’s activities
A report of social costs and social benefits of firm’s activities ............82
None of these statements is correct

a social audit (a report of the social costs and social benefits of the
firm's activities)

Question # 13 of 20 ( Start time: 04:26:02 PM ) Total Marks: 1

The benefits of pollution control should flow to those who have had to
bear?
Select correct option:

Internal cost of pollution

External costs of pollution ..........81
Both a & b
None of the above

The benefits of pollution control should flow to those who have had to bear
the external
costs of pollution

Question # 14 of 20 ( Start time: 04:27:01 PM ) Total Marks: 1

Which one of the following a moral reason of contractual theory of
business?
Select correct option:

Compliance duty
Misrepresentation duty
Coerce duty
All of the above ..........102

Question # 15 of 20 ( Start time: 04:28:31 PM ) Total Marks: 1

How much in over the past 150 years, deforestation has contributed to the
atmospheric build-up of CO2?
Select correct option:

One third .........71

Two third

86
One fourth
None of the above

Over the past 150 years, deforestation has contributed one third of the
atmospheric build-up of
CO2,

Question # 16 of 20 ( Start time: 04:29:27 PM ) Total Marks: 1

Who proposed the concept of free market and utility?
Select correct option:

John Locke
Alasdair MacIntyre
John Rawls

Adam Smith.........50

Question # 17 of 20 ( Start time: 04:30:42 PM ) Total Marks: 1

The book “Limits to Growth” published in how many languages?
Select correct option:

30

32

35

37 ........90

One of the best known warning voices was contained in the

book "Limits to Growth",
published in 1972. It sold twelve million copies in 37 languages

Question # 18 of 20 ( Start time: 04:31:22 PM ) Total Marks: 1

Which of the following is not a characteristics of free market?
Select correct option:

87
All goods in the market are exactly disimilar ............96
Everyone has full and perfect information
The market is unregulated
There are no external costs

Question # 19 of 20 ( Start time: 04:32:43 PM ) Total Marks: 1

Which of the following includes the costs that the firm does not pay–the
costs of pollution and medical care that result from the manufacture of the
commodities?
Select correct option:

Social costs ..............

Private costs
Public costs
Personal costs

Social costs include the costs that the firm does not pay the costs of
pollution and medical care that result from the manufacture of the
commodities

Question # 20 of 20 ( Start time: 04:34:14 PM ) Total Marks: 1

Which theory was propsed by David Ricardo in 1817?
Select correct option:

Natural advantage
comparative advantage ........47
Acquired advantage
Resource efficiency advantage

In 1817 David Ricardo Comparative Advantage

Question # 1 of 20 ( Start time: 09:21:42 PM ) Total Marks: 1

Modern corporations consist of?
Select correct option:

Stockholders

88
Directors and employees
Government agencies

Both a & b..........p6

Question # 2 of 20 ( Start time: 09:22:38 PM ) Total Marks: 1

How many essential components of Moral reasoning are?
Select correct option:

3
4 .............
2
None of the above

Question # 3 of 20 ( Start time: 09:24:02 PM ) Total Marks: 1

Every person has a right to freedom from coercion that takes priority
over all other rights and values is known as?
Select correct option:

Karl’s principle
Nozick’s principle .............p33
Blanc’s principle
None of the above

Nozick’s principle is based on the claim (which we have already

discussed) that every person has a right to freedom from coercion that
takes priority over all other rights and values.

Question # 4 of 20 ( Start time: 09:25:27 PM ) Total Marks: 1

Who wrote the book “The Wealth of Nations”?
Select correct option:

Adam Smith..............50

Karl Marx

John Locke

89
John Maynard Keynes

Question # 5 of 20 ( Start time: 09:26:46 PM ) Total Marks: 1

The person's reasons for acting must be reasons that everyone could act
on at least in principles is known as?
Select correct option:

Reversibility
Universalizability ..............p27
Rule utilitarianism
None of the above

Universalizability means the person's reasons for acting must be

reasons that everyone could act on at least in principle.

Question # 6 of 20 ( Start time: 09:27:54 PM ) Total Marks: 1

______is defined as Tendency to make ethical choices only on the basis
of what looks right or reasonable according to one's own belief or value
system.
Select correct option:

Ethical Relativism ...........

Cultural Relativism
Descriptive Relativism
Epistemological Relativism

Question # 7 of 20 ( Start time: 09:29:05 PM ) Total Marks: 1

Who proposed that human beings have a "natural right" to liberty and
a "natural right" to private property?
Select correct option:

John Locke............42

Alasdair MacIntyre
John Rawls
None of the above

John Locke (1632-1704), an English political philosopher, is

generally credited with developing the idea that human beings have
a "natural right" to liberty and a "natural right" to private property.

90
Question # 8 of 20 ( Start time: 09:30:26 PM ) Total Marks: 1
In which country Locke’s property rights have been influential?
Select correct option:

England

Germany

America .......43

Greek

Locke's views on property rights have been very influential in America.

Question # 9 of 20 ( Start time: 09:31:29 PM ) Total Marks: 1

The aim of the moral life is to develop the dispositions that we call
virtues, and to exercise them as well is referred to as?
Select correct option:

Ethics theory
Relationship theory

Virtue theory ..............39

None of the above

Virtue theory says that the aim of the moral life is to

develop the dispositions that we call virtues, and to exercise them
as well.

Question # 11 of 20 ( Start time: 09:33:49 PM ) Total Marks: 1

Which of the following are the ideological camps characterize modern
societies?
Select correct option:

Individualistic

91
 Communitarian
Both a & b ....42
None of the above
In general, two important ideological camps, the individualistic and
communitarian viewpoints, characterize modern societies.

Question # 12 of 20 ( Start time: 09:34:56 PM ) Total Marks: 1

Which of the following theory says that the aim of the moral life is to
develop the dispositions and to exercise them as well?
Select correct option:

Justice theory
Right theory
Virtue theory .......39
None of the above

Virtue theory says that the aim of the moral life is to

develop the dispositions that we call virtues, and to exercise them
as well

Question # 13 of 20 ( Start time: 09:35:44 PM ) Total Marks: 1

Weighing Social Costs and Benefits is a technique used in?
Select correct option:

Justice concept
Right concept
Caring concept
Utilitarianism concept ?????????????

Question # 14 of 20 ( Start time: 09:37:10 PM ) Total Marks: 1

Which of the following economic principle is first posted by Adam
Smith to describe that the greatest benefit to a society is brought about
by individuals in the pursuit of their own self-interest?
Select correct option:

Free trade

92
Economic freedom

Positive sum game

Invisible hand.......

Question # 15 of 20 ( Start time: 09:38:34 PM ) Total Marks: 1

Which theory was proposed by David Ricardo in 1817?
Select correct option:

Natural advantage
comparative advantage .............47
Acquired advantage
Resource efficiency advantage

Comparative Advantage
In 1817 David Ricardo reasoned that there would still be gains
from trade if a country specialized in the production of those
things it can produce most efficiently, even if other countries can
produce those same things even more efficiently.

Question # 16 of 20 ( Start time: 09:39:19 PM ) Total Marks: 1

Conceptualization of a construct involves:
Select correct option:

Thinking carefully
Reading what others have written about the idea
Trying all possible definitions
All of the given options ??????????

Question # 17 of 20 ( Start time: 09:40:39 PM ) Total Marks: 1

“The desire for a good or a service” best represents:
Select correct option:

Need
Want ????????
Desire
None of the given

93
 Every person should be given equal shares of a society’s or a group’s
benefits and burdens referred as?

Question # 19 of 20 ( Start time: 09:43:34 PM ) Total Marks: 1

Principles of reversibility and Universalizability proposed by?
Select correct option:

John Rawls

Kantian .....34
Carl Max
None of the above

the Kantian principles of reversibility and universalizability, and

treats people as ends and not as means.

Question # 20 of 20 ( Start time: 09:44:28 PM ) Total Marks: 1

Who founded traditional utilitarianism?
Select correct option:

Jeremy Bentham .............16

Carol Gilligan

Kohlberg
None of the given options

Jeremy Bentham founded traditional utilitarianism.

Question # 1 of 20 ( Start time: 09:48:21 PM ) Total Marks: 1

In which of the following someone looks at individual acts to see
whether they produce more pleasure,one looks only at moral rules at
actions of a particular type?
Select correct option:

Rule utilitarianism ................

Conventional utilitarianism
Weighting cost and benefit
None of the above

94
Question # 2 of 20 ( Start time: 09:49:21 PM ) Total Marks: 1
Who has proposed the most "surprising" and "counterintuitive"
concept in economics?
Select correct option:

Ricardo ..........51
John Locke
Alasdair MacIntyre
Adam Smith

Ricardo's ingenious argument has been hailed as the single

"most important" and "most meaningful" economic discovery ever
made. Some have said it is the most "surprising"
and"counterintuitive" concept in economics.

Question # 3 of 20 ( Start time: 09:50:18 PM ) Total Marks: 1

When a person is entitled to act in a certain way or is entitled to have
others act in a certain way toward him or her is known as?
Select correct option:

Right .....23
Justice
Basic needs
None of the above

In general,aright is aperson's entitlementtosomething;one has a rightto

somethingwhen one is entitled to act a certain way or to have
others act in a certain way towards oneself

Question # 4 of 20 ( Start time: 09:51:45 PM ) Total Marks: 1

Privacy is an example of?
Select correct option:

Positive right
Basic need
Negative right .........23
None of the above

95
Privacy is an example of a negative right ;

Question # 5 of 20 ( Start time: 09:52:54 PM ) Total Marks: 1

Which of the following are the ideological camps characterize modern
societies?
Select correct option:

Individualistic
Communitarian
Both a & b ............
None of the above

Question # 6 of 20 ( Start time: 09:53:11 PM ) Total Marks: 1

Who argued in response to the free market and utility by Adam Smith
that government should intervene because there is a mismatch between
the aggregate supply and demand?
Select correct option:

John Hicks

Maynard Keynes.........50

Herbert Spencer

Charles Darwin

One especially influential critic of Smith was John Maynard

Keynes. Keynes argued that government intervention was necessary
because there is a mismatch between aggregate supply and demand,
which inevitably leads to a contraction of supply.

Question # 7 of 20 ( Start time: 09:54:18 PM ) Total Marks: 1

Which one of the following laws related to morality?
Select correct option:

Parking Laws ?????????

Business Laws
Dress code Laws

96
None of the above

Question # 8 of 20 ( Start time: 09:55:47 PM ) Total Marks: 1

Which one of the following does not have any contribution towards
moral development?
Select correct option:

Gilligan
Kohlberg
Henry Fayol ????????
None of the above

Question # 9 of 20 ( Start time: 09:56:39 PM ) Total Marks: 1

Which one is the example given by James Rachel while explaining
ethical relativism?
Select correct option:

Flat earth ...........p8

Slop earth
Uneven earth
Horizontal earth

Question # 10 of 20 ( Start time: 09:57:24 PM ) Total Marks: 1

Which one of the country has more collectivist culture?
Select correct option:

USA
Japan.............30
Pakistan
None of the above

Workers in countries that are characterized as having a more

collectivist
culture,such as Japan.

Question # 11 of 20 ( Start time: 09:58:08 PM ) Total Marks: 1

Which of the following is included in virtue?

97
Select correct option:

Benevolence
Moderation
Tolerance
All of the above ....39

Question # 12 of 20 ( Start time: 09:59:33 PM ) Total Marks: 1

Which one of these is a graphic demonstration that rational individual
choices do not necessarily result in rational collective choices.
Select correct option:

Game theory
Prisoner’s dilemma
Moral Reasoning ..........
Moral responsibility

Question # 13 of 20 ( Start time: 10:00:42 PM ) Total Marks: 1

Which one of the following is NOT the role of government in
individualistic society?
Select correct option:

Protect property
Enforce contracts
Keep market place open
A vision for community...42

Individualistic societies promote a limited government whose

primary purpose is to protect property, contract rights, and open
markets.

Question # 14 of 20 ( Start time: 10:02:05 PM ) Total Marks: 1

Which principle of John Rawls assumes that a productive society will
incorporate inequalities?
Select correct option:

Principle 1

98
Principle 2 .............34
Part a of principle 2
Part b of principle 2

According to the dictionary, the term ethics has a variety of

different meanings. One of its meanings is: "the principles of conduct
governing an individual or a group”. We sometimes use the term personal
ethics,

Question # 16 of 20 ( Start time: 10:04:54 PM ) Total Marks: 1

Arthur Andersen was associated with?
Select correct option:

Enron............. p7
General Motors
Dell Computers
Wal-Mart

Arthur Andersen was caught shredding documents showing how they

helped Enron hide its debt through the use of several accounting
tricks.

99