Question 1

An important social trend is the continued concern for health and well-being in the United States. This is most likely evidenced by which of the following?

Accepted Answer

A)   the increased sales of Cigar Aficionado magazine.
B)   the introduction of Lay's Kettle Cooked potato chips, which have 40 percent less fat than regular potato chips.
C)   the opening of more Starbucks coffee boutiques in supermarkets.
D)   the upsizing of menu items at fast-food restaurants.
E)   the introduction of virtual reality headsets such as the Oculus Rift.F) None of the above
G) B) and D)

Question 2

Society's values and standards that are enforceable in the courts are referred to as

Accepted Answer

A)   situational ethics.
B)   cultural norms.
C)   industry practices.
D)   laws.
E)   the Consumer Bill of Rights.F) A) and C)
G) C) and E)

Question 3

Consumerism refers to

Accepted Answer

A)   a movement of conspicuous consumption that began when World War II ended.
B)   conducting business in a way that protects the natural environment while making economic progress.
C)   a collaborative effort between buyers and sellers to create an exchange where each benefit.
D)   the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth.
E)   the grassroots movement started in the 1960s to increase the influence, power, and rights of consumers in dealing with institutions.F) None of the above
G) A) and E)

Question 4

Describe each of the three factors included in the framework for understanding ethical behavior that influence one's personal moral philosophy and ethical behavior.

Accepted Answer

The three major factors affecting busine...

Question 5

Many firms now use e-mail and the Internet to promote their products instead of sending promotional literature to current and prospective customers through the mail. UPS and FedEx continue to grow, offering both overnight and ground package delivery services. As a result, the U.S. Postal Service (USPS)  has lost millions of customers and billions in revenue. The USPS has challenges ahead in coping with ________ forces in the marketplace.

Accepted Answer

A)   economic
B)   competitive
C)   legal
D)   social
E)   ecologicalF) A) and B)
G) D) and E)

Question 6

Disposable income refers to

Accepted Answer

A)   the money that remains before paying for taxes and necessities.
B)   the money deducted from a person's paycheck to pay for federal, state, and local taxes.
C)   the total amount of money made by a single individual during his or her lifetime.
D)   the money a consumer has left after paying taxes to use for necessities such as food, shelter, clothing, and transportation.
E)   the money that is spent for necessities or charitable causes that is exempt from taxation.F) C) and D)
G) A) and B)

Question 7

The moral principles and values that govern the actions and decisions of an individual or group are referred to as

Accepted Answer

A)   social norms.
B)   cultural values.
C)   ethics.
D)   societal philosophy.
E)   religion.F) A) and B)
G) A) and C)

Question 8

Income used to buy luxury items, such as a voyage aboard Cunard's Queen Mary 2, is referred to as

Accepted Answer

A)   gross income.
B)   disposable income.
C)   surplus income.
D)   wealth income.
E)   discretionary income.F) B) and C)
G) None of the above

Question 9

All of the following are the result of an interest in the triple-bottom line except which?

Accepted Answer

A)   sustainable development
B)   cause marketing
C)   environmental scans
D)   green marketing
E)   social auditsF) C) and D)
G) B) and E)

Question 10

Ethical exchanges between sellers and buyers should result in

Accepted Answer

A)   the seller making a profit at the expense of the buyer.
B)   the buyer getting the product for the best price at the expense of the seller.
C)   both parties to the exchange being better off after a transaction.
D)   the seller offering buyers its products and services at cost, especially during a period of recession.
E)   the buyer forming a strategic alliance with the seller.F) C) and D)
G) B) and E)

Question 11

When a firm or business displays the Better Business Bureau (BBB)  Accredited Business logo on its store window or website, it assures consumers that

Accepted Answer

A)   the company's products comply with current safety standards set by the Consumer Product Safety Commission.
B)   it is a member of a voluntary alliance of companies whose goal is to help maintain fair business practices.
C)   the firm has met the standards for qualification as a green marketing firm.
D)   the firm takes a proactive stance on diversity in the workplace.
E)   the company incorporates sustainable business practices.F) B) and E)
G) A) and B)

Question 12

Changes in ________ have a psychological impact on consumers who tend to spend more when they feel their net worth is rising and postpone purchases when it declines.

Accepted Answer

A)   automobile prices
B)   fuel prices
C)   the number of people competing for jobs
D)   consumer confidence
E)   home valuesF) B) and E)
G) A) and C)

Question 13

In an inflationary economy, the cost to produce and buy products and services ________ as prices ________.

Accepted Answer

A)   increases; increase
B)   increases; decrease
C)   decreases; increase
D)   decreases; decrease
E)   does not change; increaseF) B) and E)
G) D) and E)

Question 14

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)   religion.F) D) and E)
G) None of the above

Question 15

Sustainable development refers to

Accepted Answer

A)   placing restraints on a company's growth until all ancillary support services are in place to ensure a new venture's success.
B)   global economies that are slowly moving from an agrarian-base to an industrial base.
C)   adhering to worldwide standards for environmental quality and green marketing practices.
D)   marketing efforts to produce, promote, and reclaim environmentally sensitive products.
E)   conducting business in a way that protects the natural environment while making economic progress.F) A) and E)
G) C) and D)

Question 16

Gross income refers to

Accepted Answer

A)   the money that remains after paying for taxes and necessities.
B)   the money deducted from a person's paycheck to pay for federal, state, and local taxes.
C)   the money a consumer has left after paying taxes to use for necessities such as food, shelter, clothing, and transportation.
D)   the total amount of money made by a single individual during his or her lifetime.
E)   the total amount of money made in one year by a person, household, or family unit.F) A) and E)
G) A) and B)

Question 17

Profit responsibility refers to

Accepted Answer

A)   the obligation of a firm to price its products or services at a level whereby the consumer is treated fairly and the firm is still able to make a profit.
B)   the view that an organization has an obligation to those who can affect the achievement of its objectives.
C)   the concept that no expansion or additional research and development will occur until a company is making a profit.
D)   the idea that organizations are part of a larger society and are accountable to that society for their actions.
E)   the duty of a firm to maximize financial returns for its owners or stockholders.F) A) and D)
G) B) and E)

Question 18

The form of competition where just a few companies control the majority of industry sales is referred to as

Accepted Answer

A)   pure competition.
B)   cross-market competition.
C)   an oligopoly.
D)   monopolistic competition.
E)   a monopoly.F) A) and E)
G) A) and B)

Question 19

Oral-B toothbrushes now connect to your smartphone to provide real-time feedback on your brushing. This is an example of how ________ forces help improve or replace existing products and companies.

Accepted Answer

A)   ecological
B)   regulatory
C)   legal
D)   competitive
E)   technologicalF) A) and E)
G) A) and D)

Question 20

An increasing percentage of turkeys are now being marketed as "free range." Consumers typically pay $1 more per pound for free-range turkeys, which are thought to have lived more "humane" or "avian" lives-and as a result, to taste better than conventionally raised turkeys. The USDA defines a free-range bird as one that has been allowed "access to the out-of-doors." Are turkey growers who allow their birds to access the out-of-doors only moments before they are killed acting in a socially responsible manner?

Accepted Answer

To answer this question, students will n...

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

In an inflationary economy, the cost to produce and buy products and services as prices .

Correct Answer
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Describe each of the three factors included in the framework for understanding ethical behavior that influence one's personal moral philosophy and ethical behavior.

Correct Answer
verified
The three major factors affecting busine...
View Answer

Sustainable development refers to

Correct Answer
verified

The form of competition where just a few companies control the majority of industry sales is referred to as

Correct Answer
verified

Oral-B toothbrushes now connect to your smartphone to provide real-time feedback on your brushing. This is an example of how ________ forces help improve or replace existing products and companies.

Correct Answer
verified

An important social trend is the continued concern for health and well-being in the United States. This is most likely evidenced by which of the following?

Correct Answer
verified

All of the following are the result of an interest in the triple-bottom line except which?

Correct Answer
verified

Correct Answer
verified
To answer this question, students will n...
View Answer

Ethical exchanges between sellers and buyers should result in

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

Changes in ________ have a psychological impact on consumers who tend to spend more when they feel their net worth is rising and postpone purchases when it declines.

Correct Answer
verified

The moral principles and values that govern the actions and decisions of an individual or group are referred to as

Correct Answer
verified

Gross income refers to

Correct Answer
verified

Disposable income refers to

Correct Answer
verified

When a firm or business displays the Better Business Bureau (BBB) Accredited Business logo on its store window or website, it assures consumers that

Correct Answer
verified

Society's values and standards that are enforceable in the courts are referred to as

Correct Answer
verified

Income used to buy luxury items, such as a voyage aboard Cunard's Queen Mary 2, is referred to as

Correct Answer
verified

Correct Answer
verified

Profit responsibility refers to

Correct Answer
verified

Consumerism refers to

Correct Answer
verified

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

In an inflationary economy, the cost to produce and buy products and services ________ as prices ________.

Correct AnswerverifiedShow Answer

Describe each of the three factors included in the framework for understanding ethical behavior that influence one's personal moral philosophy and ethical behavior.

Correct AnswerverifiedThe three major factors affecting busine...View AnswerShow Answer

Sustainable development refers to

Correct AnswerverifiedShow Answer

The form of competition where just a few companies control the majority of industry sales is referred to as

Correct AnswerverifiedShow Answer

Oral-B toothbrushes now connect to your smartphone to provide real-time feedback on your brushing. This is an example of how ________ forces help improve or replace existing products and companies.

Correct AnswerverifiedShow Answer

An important social trend is the continued concern for health and well-being in the United States. This is most likely evidenced by which of the following?

Correct AnswerverifiedShow Answer

All of the following are the result of an interest in the triple-bottom line except which?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedTo answer this question, students will n...View AnswerShow Answer

Ethical exchanges between sellers and buyers should result in

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

Changes in ________ have a psychological impact on consumers who tend to spend more when they feel their net worth is rising and postpone purchases when it declines.

Correct AnswerverifiedShow Answer

The moral principles and values that govern the actions and decisions of an individual or group are referred to as

Correct AnswerverifiedShow Answer

Gross income refers to

Correct AnswerverifiedShow Answer

Disposable income refers to

Correct AnswerverifiedShow Answer

When a firm or business displays the Better Business Bureau (BBB) Accredited Business logo on its store window or website, it assures consumers that

Correct AnswerverifiedShow Answer

Society's values and standards that are enforceable in the courts are referred to as

Correct AnswerverifiedShow Answer

Income used to buy luxury items, such as a voyage aboard Cunard's Queen Mary 2, is referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Profit responsibility refers to

Correct AnswerverifiedShow Answer

Consumerism refers to

Correct AnswerverifiedShow Answer

In an inflationary economy, the cost to produce and buy products and services as prices .

Correct Answer
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The three major factors affecting busine...
View Answer

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To answer this question, students will n...
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