Question 1

The money a consumer has left after paying taxes to use for necessities such as food, shelter, clothing, and transportation is referred to as __________.

Accepted Answer

A)  net income
B)  disposable income
C)  discretionary income
D)  household income
E)  gross incomeF) A) and D)
G) A) and C)

Question 2

The total amount of money made in one year by a person, household, or family unit is referred to as __________ income.

Accepted Answer

A)  government
B)  discretionary
C)  disposable
D)  gross
E)  livableF) None of the above
G) C) and D)

Question 3

Corporate culture refers to

Accepted Answer

A)  a formalized method for controlling the marketing environment.
B)  the set of accepted standards and practices within a given industry.
C)  the fundamental, passionate, and enduring principles of an organization that guide its conduct over time.
D)  the set of values, ideas, and attitudes that is learned and shared among the members of an organization.
E)  the formal statement of ethical principles and rules of conduct adopted by an organization.F) A) and D)
G) A) and C)

Question 4

Business culture affects ethical behavior in competition. Briefly discuss the two most common kinds of unethical competitive behavior. In answering, provide concrete examples for both.

Accepted Answer

The two kinds of unethical behavior that...

Question 5

Two former sales representatives of Amgen, a biotech company, alleged the company strongly encouraged its salesforce to search confidential medical records in dermatologist's offices to find names of patients that would benefit Amgen's drug Enbrel, a psoriasis treatment. After reporting this practice to the president, one rep was fired and the other resigned after receiving a poor performance review. Both sued Amgen, claiming they did not go along with the scheme because they objected to it as being unethical. The two sales representatives are

Accepted Answer

A)  scabs.
B)  cronies.
C)  whistle-blowers.
D)  contrarians.
E)  ombudsmen.F) B) and D)
G) A) and D)

Question 6

A personal moral philosophy that considers individual rights or duties as universal, regardless of the outcome, is referred to as __________.

Accepted Answer

A)  social responsibility
B)  moral idealism
C)  utilitarianism
D)  hedonism
E)  religionF) A) and B)
G) B) and E)

Question 7

Regulation refers to

Accepted Answer

A)  the restrictions that state and federal laws place on business with regard to the conduct of its activities.
B)  constraints placed on businesses for activities that are legal but unethical.
C)  society's values and standards that are enforceable in the courts.
D)  requirements concerning which customers a firm may serve or not serve.
E)  the moral principles and values that govern the actions and decisions of an individual or group.F) C) and D)
G) A) and E)

Question 8

An information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunications technologies and digitized offerings is referred to as __________.

Accepted Answer

A)  Internet marketing
B)  marketspace
C)  electronic commerce
D)  marketplace
E)  e-exchangeF) B) and D)
G) None of the above

Question 9

The term that pertains to the income, expenditures, and resources that affect the cost of running a business or household is referred to as(the)  __________.

Accepted Answer

A)  banking
B)  economy
C)  finances
D)  budgeting
E)  money managementF) B) and C)
G) A) and E)

Question 10

According to the textbook, __________ has developed virtual dressing rooms that use 3D technology.

Accepted Answer

A)  Macy's
B)  Neiman Marcus
C)  Bloomingdale's
D)  JC Penney
E)  The GapF) C) and D)
G) None of the above

Question 11

Avon has donated millions toward breast cancer research. One hundred percent of net profits One from the sale of a bag designed by Marimekko exclusively for the Avon Breast Cancer Crusade were donated to the crusade. This is an example of

Accepted Answer

A)  philanthropic marketing.
B)  corporate altruism.
C)  the marketing concept.
D)  green marketing.
E)  cause marketing.F) All of the above
G) B) and E)

Question 12

Publishers were surprised by the dramatic success of the book Fifty Shades of Grey and believe that it will likely generate a fresh cycle of female-targeted romances packaged for the mainstream reader. This is an example of a(n)  __________ force impacting the marketing environment.

Accepted Answer

A)  economic
B)  competitive
C)  technological
D)  social
E)  regulatoryF) B) and C)
G) A) and E)

Question 13

In a recent survey, consumers were asked the following question: "Who should take the lead in addressing environmental issues?" Results suggest that consumers expect that __________ should.

Accepted Answer

A)  the federal government
B)  businesses
C)  individuals
D)  environmental groups
E)  state governmentsF) All of the above
G) B) and E)

Question 14

The obligation organizations have to the preservation of ecological environment and to the general public is referred to as __________.

Accepted Answer

A)  social responsibility
B)  stakeholder responsibility
C)  benefit marketing
D)  societal responsibility
E)  profit responsibilityF) A) and B)
G) C) and D)

Question 15

In business, the four basic forms of competition are

Accepted Answer

A)  pure competition, limited competition, oligopoly, and monopoly.
B)  dictatorship, monarchy, oligarchy, and democracy.
C)  pure competition, cross-market competition, oligopoly, and pure monopoly.
D)  technological competition, market competition, governmental competition, and environmental competition.
E)  pure competition, monopolistic competition, oligopoly, and pure monopoly.F) None of the above
G) All of the above

Question 16

Explain the difference(s) between the Sherman Antitrust Act, the Clayton Act, and the Robinson-Patman Act, all of which were enacted to protect competition.

Accepted Answer

The Sherman Antitrust Act (1890) was the...

Question 17

Electronic commerce refers to

Accepted Answer

A)  an information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunications technologies and digitized offerings.
B)  any activity that uses some form of electronic communication in the inventory, exchange, advertisement, distribution, and payment of goods and services.
C)  two-way buyer-seller electronic communication in a computer-mediated environment in which the buyer controls the kind and amount of information received from the seller.
D)  electronic storefronts that focus on converting an online browser into an online, catalog, or in-store buyer.
E)  electronic storefronts that advertise and promote a company's products and services and provide information on how items can be used and where they can be purchased.F) None of the above
G) C) and D)

Question 18

In the private purchase of a used car, __________ places the burden on the buyer to make sure the car is worth the price, so it is advisable to take the car first to a mechanic. Once the transaction is complete the buyer will not receive a warranty or return option from the seller.

Accepted Answer

A)  modus operandi
B)  caveat emptor
C)  de facto marketing
D)  ćest la vie
E)  anguis in herbaF) C) and D)
G) All of the above

Question 19

The first major federal legislation passed to forbid actual monopolies or attempts to monopolize any part of trade or commerce in the United States was the

Accepted Answer

A)  Lanham Act.
B)  Federal Trade Commission Act.
C)  Robinson-Patman Act.
D)  Sherman Antitrust Act.
E)  Clayton Act.F) B) and C)
G) A) and B)

Question 20

Each year, the U.S. Army shoots an estimated 200 million rounds of lead bullets at target practice areas across the United States. Pentagon officials, in response to environmentalists' concerns over lead poisoning in the soil, have invested over $12 million to develop an environmentally safe tungsten bullet. This is an example of one of the outcomes of __________.

Accepted Answer

A)  marketing ethics
B)  consumerism
C)  cause marketing
D)  self-regulation
E)  NaderismF) A) and E)
G) B) and E)

Exam 3: Understanding the Marketing Environment, Ethical Behavior, and Social Responsibility

Avon has donated millions toward breast cancer research. One hundred percent of net profits One from the sale of a bag designed by Marimekko exclusively for the Avon Breast Cancer Crusade were donated to the crusade. This is an example of

Correct Answer
verified

Business culture affects ethical behavior in competition. Briefly discuss the two most common kinds of unethical competitive behavior. In answering, provide concrete examples for both.

Correct Answer
verified
The two kinds of unethical behavior that...
View Answer

The money a consumer has left after paying taxes to use for necessities such as food, shelter, clothing, and transportation is referred to as __________.

Correct Answer
verified

A personal moral philosophy that considers individual rights or duties as universal, regardless of the outcome, is referred to as __________.

Correct Answer
verified

In the private purchase of a used car, __________ places the burden on the buyer to make sure the car is worth the price, so it is advisable to take the car first to a mechanic. Once the transaction is complete the buyer will not receive a warranty or return option from the seller.

Correct Answer
verified

In a recent survey, consumers were asked the following question: "Who should take the lead in addressing environmental issues?" Results suggest that consumers expect that __________ should.

Correct Answer
verified

The first major federal legislation passed to forbid actual monopolies or attempts to monopolize any part of trade or commerce in the United States was the

Correct Answer
verified

Correct Answer
verified

The obligation organizations have to the preservation of ecological environment and to the general public is referred to as __________.

Correct Answer
verified

The total amount of money made in one year by a person, household, or family unit is referred to as __________ income.

Correct Answer
verified

According to the textbook, __________ has developed virtual dressing rooms that use 3D technology.

Correct Answer
verified

Corporate culture refers to

Correct Answer
verified

Electronic commerce refers to

Correct Answer
verified

Explain the difference(s) between the Sherman Antitrust Act, the Clayton Act, and the Robinson-Patman Act, all of which were enacted to protect competition.

Correct Answer
verified
The Sherman Antitrust Act (1890) was the...
View Answer

An information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunications technologies and digitized offerings is referred to as __________.

Correct Answer
verified

In business, the four basic forms of competition are

Correct Answer
verified

The term that pertains to the income, expenditures, and resources that affect the cost of running a business or household is referred to as(the) __________.

Correct Answer
verified

Publishers were surprised by the dramatic success of the book Fifty Shades of Grey and believe that it will likely generate a fresh cycle of female-targeted romances packaged for the mainstream reader. This is an example of a(n) __________ force impacting the marketing environment.

Correct Answer
verified

Correct Answer
verified

Regulation refers to

Correct Answer
verified

Exam 3: Understanding the Marketing Environment, Ethical Behavior, and Social Responsibility

Avon has donated millions toward breast cancer research. One hundred percent of net profits One from the sale of a bag designed by Marimekko exclusively for the Avon Breast Cancer Crusade were donated to the crusade. This is an example of

Correct AnswerverifiedShow Answer

Business culture affects ethical behavior in competition. Briefly discuss the two most common kinds of unethical competitive behavior. In answering, provide concrete examples for both.

Correct AnswerverifiedThe two kinds of unethical behavior that...View AnswerShow Answer

The money a consumer has left after paying taxes to use for necessities such as food, shelter, clothing, and transportation is referred to as __________.

Correct AnswerverifiedShow Answer

A personal moral philosophy that considers individual rights or duties as universal, regardless of the outcome, is referred to as __________.

Correct AnswerverifiedShow Answer

In the private purchase of a used car, __________ places the burden on the buyer to make sure the car is worth the price, so it is advisable to take the car first to a mechanic. Once the transaction is complete the buyer will not receive a warranty or return option from the seller.

Correct AnswerverifiedShow Answer

In a recent survey, consumers were asked the following question: "Who should take the lead in addressing environmental issues?" Results suggest that consumers expect that __________ should.

Correct AnswerverifiedShow Answer

The first major federal legislation passed to forbid actual monopolies or attempts to monopolize any part of trade or commerce in the United States was the

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The obligation organizations have to the preservation of ecological environment and to the general public is referred to as __________.

Correct AnswerverifiedShow Answer

The total amount of money made in one year by a person, household, or family unit is referred to as __________ income.

Correct AnswerverifiedShow Answer

According to the textbook, __________ has developed virtual dressing rooms that use 3D technology.

Correct AnswerverifiedShow Answer

Corporate culture refers to

Correct AnswerverifiedShow Answer

Electronic commerce refers to

Correct AnswerverifiedShow Answer

Explain the difference(s) between the Sherman Antitrust Act, the Clayton Act, and the Robinson-Patman Act, all of which were enacted to protect competition.

Correct AnswerverifiedThe Sherman Antitrust Act (1890) was the...View AnswerShow Answer

An information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunications technologies and digitized offerings is referred to as __________.

Correct AnswerverifiedShow Answer

In business, the four basic forms of competition are

Correct AnswerverifiedShow Answer

The term that pertains to the income, expenditures, and resources that affect the cost of running a business or household is referred to as(the) __________.

Correct AnswerverifiedShow Answer

Publishers were surprised by the dramatic success of the book Fifty Shades of Grey and believe that it will likely generate a fresh cycle of female-targeted romances packaged for the mainstream reader. This is an example of a(n) __________ force impacting the marketing environment.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Regulation refers to

Correct AnswerverifiedShow Answer

Correct Answer
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The two kinds of unethical behavior that...
View Answer

Correct Answer
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The Sherman Antitrust Act (1890) was the...
View Answer

Correct Answer
verified

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