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Business Ethics- What is Economy Efficiency

QUIZ #

1 FALL SEMESTER 2016 Marks:10 MGT 610 – Business Ethics Student ID/Login ID: _____________________________ Student Name: _____________________________

Please read the following instructions carefully before attempting Quiz

This Quiz covers lesson no.01-15 Last date for submission of quiz no 1 is 8/5/2016 All instruction will be considered during checking quiz. So, consider all these.

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Economic efficiency is

A. The means of production of the maximum output for the least amount of input.

B. The point at which revenue surpasses cost.

C. The system under which the workers own the means of production.

D. All of these.

According to Jeremy Bentham, which of the following is true?

A. Utilitarianism places no value on equality and makes no allowance for justified unequal treatment.

B. Equal distributions generally produce more utility than unequal ones.

C. Both A and B.

D. Neither A nor B.

Which of the following is strength of virtue ethics?

A. Virtue ethics does not address the problem of conflict.

B. Virtue ethics does not fit particularly well with our everyday moral experience.

C. Virtue ethics fits well with our everyday moral experience

D. Virtue ethics is incomplete.

What A. B. C. D. are the levels on which ethical decision making occurs? Individual Organizational Business system All of these Which of the following are reasons that the economic perspective cannot stand alone as the basis for business decision making?

A. The “rules of the game” can be set by government alone.

B. The market system itself has no ethical justification

C. The market system does not require ethics.

D. Ethics influences economic behavior.

Which of the following deals with the distribution of benefits and burdens, mostly in the evaluation of social, political and economic institutions?

A. Retributive justice

B. Compensatory justice C.

Distributive justice D.

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

A. The principle of equal liberty

B. The difference principle

C. The principle of equal opportunity

D. All of these

Which of the following describes “virtue”?

A. Those traits that everyone needs for the good life.

B. An excellence that is admired in a person.

C. A disposition to act in a certain way.

D. All of the given options.

Which of the following is a weakness of virtue ethics?

A. Virtue ethics does not fit particularly well with our everyday moral experience.

B. Virtue ethics fits well with our everyday moral experience.

C. Virtue ethics is incomplete.

D. There are no weaknesses in virtue ethics.

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