Business, Government, and Society
Review Questions
Course Introduction
This course examines the complex and dynamic relationships among businesses, government institutions, and society at large. Students will explore how public policy, regulatory environments, and societal expectations influence business decisions and strategies. Through case studies and theoretical frameworks, the course analyzes issues such as corporate social responsibility, ethical leadership, public-private partnerships, and the impact of globalization. Emphasis is placed on understanding the responsibilities organizations have toward various stakeholders and on evaluating the ways in which government and societal pressures shape business practices in contemporary economies.
Recommended Textbook
The Legal Ethical and Regulatory Environment of Business in a Diverse Society 1st Edition by Dawn
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Page 2
Chapter 1: Introduction to the Business and Ethics
Environment in a Diverse Society
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Q1) With reference to the federal government, which of the following is true regarding a system of checks and balances?
A) Only one of the branches is given all the authority.
B) All the branches of the government are given equal authority.
C) All the branches of the government operate independent of each other.
D) It ensures that government policies are not reached without the input of the other branches.
Answer: D
Q2) _____ law is generally the type of law that permits people to recover money damages for noncriminal actions which occur, such as car accidents, character defamation, or product liability.
A) Jim Crow
B) Executive
C) Criminal
D) Civil
Answer: D
Q3) Public law may involve involuntary litigation and is brought by the state.
A)True
B)False
Answer: True
Page 3
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Chapter 2: Alternative Dispute Resolution
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Q1) If conciliation doesn't work, the next logical step after conciliation is _____.
A) arbitration
B) summary jury trial
C) mediation
D) minitrial
Answer: C
Q2) Most often the mediator goes back and forth between the two parties and listens to their concerns and tries to find a way for each to get what he or she wants from the situation. This is known as _____.
A) piggybacking
B) skimming
C) social engineering
D) shuttle diplomacy
Answer: D
Q3) Which of the following is the largest arbitration organization in the U.S?
A) Federal Mediation & Conciliation Service
B) Chicago International Dispute Resolution Association
C) American Arbitration Association
D) Commercial Arbitration and Mediation Centre for the Americas (CAMCA)
Answer: C
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Chapter 3: The Court System and Legal Process
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Q1) According to federal jurisdiction, what are the various criteria that must be fulfilled by a case so that it can be heard in a court?
Answer: Federal jurisdiction is limited by several requirements. First, every case must present a case or controversy. Second, the case must be ripe for decision. Third, a plaintiff must have standing to sue, that is, the plaintiff must be directly concerned by the case.
The case or controversy requirement requires that every case represent an actual, not hypothetical, issue. Courts do not issue advisory opinions. The issues of ripeness and standing are related. Ripeness refers to the readiness for litigation. A case is not ready, or ripe, if it rests upon future, contingent events that may occur or may never occur. Standing is the ability of a plaintiff to convince the court that he has sufficient connection to the law challenged, or that he has been harmed by an action so that he is the proper party to bring the suit. In addition, federal courts do not consider political questions. The definition of what constitutes a political question changes with time and circumstance.
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Chapter 4: Administrative Law
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Q1) Which of the following agencies enforces safe work place laws?
A) EEOC
B) Occupational Safety & Health Administration
C) National Labor Relations Board
D) Federal Trade Commission
Q2) Corporate law is the area of law that addresses federal and state government agencies and their role in carrying out their delegated authority.
A)True
B)False
Q3) The _____ is the official daily publication for rules, proposed rules, and notices of Federal agencies and organizations, as well as executive orders and other presidential documents.
A) Congressional Directory
B) Code of Special transactions
C) Federal Register
D) Uniform Commercial Code
Q4) Describe the powers of administrative agencies.
Q5) When can a claimant apply for a judicial review of an administrative agency's decision?
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Chapter 5: Contracts and Sales
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Q1) Which of the following best represents a rebuttable presumption that arises when it is shown that the person accused of exerting undue influence had a dominant relationship with the other party to the contract?
A) Fraud in the execution.
B) Undue influence
C) Duress
D) Unilateral mistake
Q2) Each state has its own common law of contracts that governs how contracts are made and enforced in its state so rather than knowing the law in each state, states' contract laws have been distilled into a compilation called the Uniform Commercial Code.
A)True
B)False
Q3) What is a void contract?
Q4) A novation takes the assignor out of the contract altogether and substitutes the assignee in the assignor's place.
A)True
B)False
Q5) Discuss the Restatement of Contracts.
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Chapter 6: Torts
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Q1) Which of the following torts is often committed in conjunction with trademark infringement?
A) Assault
B) Defamation
C) Battery
D) Palming off
Q2) Which of the following intentional torts against business can be thought of as a sort of defamation against a business rather than an individual?
A) Disparagement
B) Palming off
C) Assault
D) Passing off
Q3) What are the defenses to intentional torts?
Q4) Wiretapping is most likely to be an example of _____.
A) publication of private facts
B) false light
C) appropriation of name or likeness
D) intrusion upon seclusion
Q5) What is the difference between slander and libel?
Q6) Discuss assault.
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Chapter 7: Property, Real and Personal
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Q1) A _____ is a legal document providing for the disposition of the property of the one making it after his or her death.
A) summons
B) deed
C) contract
D) will
Q2) Before the testator's death, the will can be revoked or property dispositions changed as often as the testator wishes.
A)True
B)False
Q3) Which of the following statements is true regarding the trespass to personal property tort?
A) To establish the tort, the tortfeasor should have harmed the property.
B) It involves accidentally interfering with the possession and control of another's personal property.
C) The trespass to personal property tort is more severe than conversion.
D) Taking the property out of the owner or possessor's control is enough for the tort to be committed.
Q4) What is reversion?
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Chapter 8: Business Crimes
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Q1) Price discrimination is an antitrust violation under the _____.
A) Federal Trade Commission Act
B) Robinson-Patman Act
C) Sherman Act
D) Clayton Act
Q2) Which of the following best represents an agreement between two or more persons to commit a crime or to conspire to commit an act that is not unlawful by unlawful means?
A) Perjury
B) Embezzlement
C) Conspiracy
D) Misappropriation
Q3) The Fifth Amendment:
A) protects a person against unreasonable searches and seizures by the police or other government official.
B) provides constitutional protection against self-incrimination.
C) prohibits the making of any law infringing on the freedom of speech and freedom of press.
D) protects the right of the people to keep and bear arms.
Q4) What is insider trading?
Page 10
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Chapter 9: Secured Transactions and Bankruptcy
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Q1) Discuss briefly Chapter 7 bankruptcy.
Q2) For attachment, the creditor can enforce the security interest against third parties. A)True
B)False
Q3) The debtor must file a repayment plan within _____ days after the petition is filed for a Chapter 13 bankruptcy.
A) 8
B) 14
C) 18
D) 21
Q4) Which of the following statements is true regarding reimbursement?
A) The surety has no right to reimbursement until he actually pays the creditor.
B) The surety's right to reimbursement is against the creditor.
C) The right to reimbursement arises only when the surety has paid more than her share of the debt.
D) The right to reimbursement confers upon the surety all the rights the creditor has against the debtor.
Q5) What is a secured transaction?
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Chapter 10: Agency and Business Organizations
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Q1) In the case of limited partnership, which of the following statements is true regarding the general partners?
A) They are essentially passive investors in the partnership.
B) They owe fiduciary duties of loyalty and care to the partnership.
C) They do not have any say in the ordinary operations of the partnership.
D) They are not personally liable for the partnership's debts.
Q2) A partnership is dissolved by court order if:
A) the partnership agreement expires in accordance with the time provided in the agreement.
B) a partner is guilty of conduct prejudicial to the business.
C) a partner dies.
D) the partnership goes bankrupt.
Q3) An agent is a person who by agreement with the principal acts on behalf of and subject to the control of the principal.
A)True
B)False
Q4) Discuss the following statement, 'An agency results in a fiduciary relationship between an agent and a principal.'
Q5) What are the two distinguishing characteristics of an agency relationship?
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Chapter 11: The Employment Relationship and Equal Employment Opportunity
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Q1) Race and color can be the subject of a bona fide occupational qualification (BFOQ).
A)True
B)False
Q2) In an organization with a native language other than English are not permitted to speak their native language in the workplace even when it does not interfere with their jobs. This is an example of discrimination based on ___.
A) affinity orientation
B) national origin
C) color
D) religion
Q3) Which of the following statements is true regarding bona fide occupational qualification (BFOQ)?
A) Age cannot be the subject of BFOQ.
B) The BFOQ defense is actually legalized discrimination.
C) Race and color can be the subject to a BFOQ.
D) BFOQ and business necessity are the same.
Q4) List the exceptions to Title VII.
Q5) What is quid pro quo sexual harassment?
Page 13
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Chapter 12: Labor and Management Relations
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Q1) Under a no-strike, no-lockout clause:
A) a grievance procedure can be used to handle labor disputes.
B) management can engage in locking employees out of the workplace.
C) unions can engage in locking employees out of the workplace.
D) matters can be resolved through arbitration.
Q2) In what ways did the Taft-Hartley Act of 1947 curb union abuses and excesses?
Q3) Under the ____, unions can now be subject to unfair labor practices for engaging in activity that overstepped their role as employee representatives.
A) Wagner Act
B) Norris-LaGuardia Act
C) Landrum-Griffin Act
D) Taft-Hartley Act
Q4) Federal employees are covered by the:
A) National Labor Relations Act.
B) Employee Free Choice Act.
C) Taft-Hartley Act of 1947.
D) Civil Service Reform Act of 1978.
Q5) What is the difference between an open shop and an agency shop?
Q6) Distinguish between mandatory and permissive subjects of bargaining.
Q7) Describe any three unfair labor practices engaged in by unions.
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Chapter 13: Securities Regulation and Compliance
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Q1) Which of the following statements is true regarding equity securities?
A) Equity securities represent loans to companies which companies promise to repay with interest.
B) A share is an example of equity securities.
C) Equity securities are represented by bank notes.
D) Equity securities do not fall into the category of negotiable instruments as they represent ownership in companies.
Q2) When going public, for full compliance with the Securities Act of 1933, the companies need to include a document in the registration statement which would be distributed to potential and actual investors. This document is known as a(n) _____.
A) incorporation statement
B) chattel paper
C) prospectus
D) terms of agreement
Q3) What is a red herring prospectus?
Q4) What is the difference between debt securities and equity securities?
Q5) A registered stock can be negotiated by whoever possesses the stock.
A)True
B)False
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Chapter 14: Antitrust and Trade Regulation
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Q1) Which of the following statements is true for per se violations?
A) All vertical anticompetitive efforts are per se violations.
B) Such violations are not always regarded illegal.
C) An attempt to monopolize is not a type of per se violation.
D) They are held by courts to be inherently unreasonable.
Q2) What is a vertical merger? Distinguish between upstream and downstream mergers.
Q3) Which of the following statements is true for cartels?
A) Their purpose is to try to control prices through control of the output.
B) They are prohibited under §2 of the Sherman Act.
C) They are most successful when they have a large number of members.
D) They are a way to attain vertical price fixing.
Q4) State attorneys general are free to litigate on behalf of their state citizens individually.
A)True
B)False
Q5) What are the two main elements of monopolization?
Q6) The U.S. basketball leagues are exempt from antitrust laws.
A)True
B)False
Q7) Explain the defenses to price discrimination.
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Chapter 15: Intellectual Property
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Q1) Which of the following types of federally protected intellectual property protects authors, illustrators, photographers, musical composers?
A) License
B) Trademark
C) Patent
D) Copyright
Q2) What is a trademark?
Q3) Which of the following statements is true regarding a trade name?
A) It identifies a character created for a commercial.
B) It can be registered under the Lanham Act.
C) It identifies a producer.
D) It refers to the total image of a product, including the size, shape, color, and texture.
Q4) The domain name ".int" is generally used for commercial organizations.
A)True
B)False
Q5) Discuss the following statement. "Certain things have been judicially deemed unsuitable for patent."
Q6) Who are cybersquatters?
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Chapter 16: Environmental Law and Business
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Q1) Which of the following is true regarding an Environmental Assessment (EA)?
A) If an EA is required, the responsible agency must publish a notice of intent in the Federal Register, indicating intent to prepare a draft environmental impact statement.
B) A scoping meeting is mandatory before issuing an EA.
C) The public gets 45 days to comment on an EA after it is reported.
D) It is a public document that serves to provide sufficient evidence and analysis for determining whether to prepare an Environmental Impact Statement.
Q2) Write a few lines on the Clean Air Act?
Q3) Acid rain refers to a mixture of wet and dry deposited material from the atmosphere that contains higher than normal amounts of:
A) carbon dioxide and nitrogen oxides.
B) sulphur dioxide and carbon monoxide.
C) carbon monoxide and nitrogen dioxide.
D) sulphur dioxide and nitrogen oxides.
Q4) Mention some of the doctrines and principles that address the issue of ownership of water.
Q5) What is an environmental impact statement?
Q6) Differentiate between an endangered species and a threatened species.
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Chapter 17: International Law and Business
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Q1) Discuss the establishment of the World Trade Organization.
Q2) Which of the following types of mechanisms is most likely used by McDonald's for operating on international level?
A) Joint venture
B) Franchising
C) Exporting
D) Direct sale
Q3) The Uruguay round is the current trade-negotiation round of the World Trade Organization (WTO) which commenced in 2001.
A)True
B)False
Q4) The Bureau of Industry and Security (BIS) is located within the _____.
A) Department of State
B) Department of Commerce
C) Department of Treasury
D) Department of Justice
Q5) A treaty is simply a negotiated contract between parties who happen to be nations.
A)True
B)False
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