he broad agreement that permits a business to have a working relationship with the socie Show more Question 1 The broad agreement that permits a business to have a working relationship with the society in which it operates is called the: Select one: a. Constitution of the United States. b. Bill of Rights. c. Balance Sheet. d. Social Contract. Question 2 When Henry Ford used assembly lines to produce Model T cars in 1914 this was an example of: Select one: a. technological power. b. pluralism. c. environmental power. d. market failure. Question 3 When businesses hire lobbyists to influence legislation they are attempting to use: Select one: a. political power. b. social power. c. the Doctrine of Natural Rights. d. technological power. Question 4 The idea of a classless society in which all of the people collectively own property is a fundamental tenet in: Select one: a. capitalism. b. communism. c. feudalism. d. democracy. Question 5 Which of the following U.S. social movements attacked business for contributing to a variety of social ills during the 1960s? Select one: a. Civi
l rights groups. b. Environmental groups. c. Consumer Advocacy Groups d. All of the above. Question 6 J.P. Morgan was the most powerful ________ in the early 20th Century. Select one: a. politician b. commercial banker c. oil baron d. environmentalist. Question 7 Which group has the ability to influence business behavior? Select one: a. Consumers. b. Community activists. c. Workers. d. All of the above. Question 8 Firms that have market power: Select one: a. behave competitively. b. have some control over the market price. c. create a more equitable distribution of income. d. All of the above. Question 9 The social contract that a business has with society: Select one: a. Is legally binding. b. Is required by the government. c. Suggests that businesses have a moral obligation to benefit other stakeholder groups. d. All of the above. Question 10 Monopoly violates which assumptions of the competitive market model? Select one: a. That consumers have choice. b. That firms have little or no pricing power. c. That entry by new firms is relatively easy. d. All of the above. Show less