Question 1

Democratic capitalist countries rely exclusively on market forces to regulate business practices.

Accepted Answer

Democratic capitalist countries rely on a combination of market forces and government regulations to regulate business practices. The government sets rules and laws to protect consumers, workers, and the environment, while also allowing businesses to operate freely within those parameters.

Question 2

Self-regulation is the regulatory form imposed on business by the corporation itself,industry,and/or market forces.

Accepted Answer

The answer of Self-regulation is the regulatory form imposed on...

Question 3

The Employment Insurance program,operated by the Federal Government,is designed to balance the premium revenues with the actual costs of the program.This priority is an example of which form of privatization?

Accepted Answer

The Employment Insurance program is still provided by the public sector, but the financing has been privatized through a system of premiums. The priority of balancing the revenue and costs is an example of privatization of the financing of services that continue to be produced by the public sector.

Question 4

Self-regulation is more likely to be accepted because it is voluntarily developed and adapted.

Accepted Answer

Self-regulation involves individuals or companies developing and enforcing their own standards and guidelines for behavior or performance. Because it is voluntary, it is more likely to be accepted and adapted by those who implement it.

Question 5

Businesses,not government,are the architects of economic growth.

Accepted Answer

Governments play a crucial role in shaping economic growth through policies, regulations, infrastructure development, and fiscal measures, alongside businesses that drive innovation and job creation.

Question 6

The government as a protector of business interest can be seen in the tariff and non-tariff barriers that exist to shield Canadian industry from foreign competition.

Accepted Answer

Tariff and non-tariff barriers are examples of government intervention to protect domestic businesses from foreign competition.

Question 7

Doing business with the government is sometimes conducted in an inappropriate manner.

Accepted Answer

It is true that doing business with the government can sometimes involve inappropriate conduct such as bribery, influence peddling, and other forms of corruption. It is important for both government officials and private sector companies to uphold ethical standards and follow proper procedures to prevent such behavior.

Question 8

The organic food industry in Canada has an obligation to protect the interest of its consumers.This form of regulation is:

Accepted Answer

The answer of The organic food industry in Canada has...

Question 9

Self-regulation is criticized because it impairs business competition and innovation due to self-serving restraint by industry participants.

Accepted Answer

Self-regulation relies on industry participants to voluntarily limit their actions, which can lead to a lack of competition and innovation as they prioritize their own interests over consumer protection and industry progress.

Question 10

One form of privatization is the monopoly franchise.

Accepted Answer

Monopoly franchise is a form of privatization where control of a certain public service or facility is given to a private company, creating a monopoly over that particular service or facility.

Question 11

Corporations wishing to do business with the Government must certify that they and any affiliates have not been charged with any of the offences anywhere in the world in the past ten years.

Accepted Answer

This is true. The Anti-Corruption Guidelines for Corporations Doing Business with the Government require corporations to certify that they and any affiliates have not been charged with any of the listed offences anywhere in the world in the past ten years. This is a requirement to ensure that the government only does business with ethical and law-abiding entities.

Question 12

The presence of the Canada Post outlet in the local drugstore is very convenient for Mary.Previously,she would have to travel several times a week to the government-operated post office,which was located in a different part of her community.When the government announced that it would franchise out postal services,she had been concerned that she would be paying the businesses user fees,but her costs
For mailing product have not changed at all.The franchising of postal outlets is an example of which form of privatization?

Accepted Answer

The answer of The presence of the Canada Post outlet...

Question 13

Corporations wishing to do business with the Government must certify that they and any affiliates have not been charged with any of the offences anywhere in the world in the past ten years.

Accepted Answer

This is accurate according to the U.S. Federal Acquisition Regulation (FAR) which requires contractors to represent that they have not been charged with certain criminal offenses within the past 10 years. Similar requirements may exist in other countries.

Question 14

The demand for increasing legislation increases following a business scandal.

Accepted Answer

Business scandals often result in public outrage and calls for action, including the demand for increased legislation to prevent similar incidents from occurring in the future.

Question 15

In a highly competitive marketplace,market forces serve to regulate business practice no regulation is necessary.

Accepted Answer

While market forces can certainly play a role in regulating business practice, they may not always be sufficient to ensure fair competition and prevent harmful practices such as monopolies, price fixing, and fraud. In such cases, government regulation may be necessary to protect consumers and promote a level playing field for businesses.

Question 16

In 2000,the Government of Canada introduced its Integrity Framework to deal with the lack of action on this issue.

Accepted Answer

The Government of Canada introduced its Integrity Framework in 2015, not in 2000, to ensure that it conducts business with ethical suppliers and to address issues related to fraud, corruption, and other unethical practices.

Question 17

Many government-owned enterprises have been sold or dissolved as governments
became disillusioned with their operation or concluded the private sector could operate such corporations more effectively.

Accepted Answer

This statement is true. Many governments have privatized or dissolved their state-owned enterprises as a result of various factors such as fiscal reasons, performance issues, and ideological beliefs.

Question 18

Businesspersons and organizations are often critical of what they perceive to be costly and inappropriate social programs directed at individuals.On the other hand,businesses rarely turn down tax incentives and loan guarantees that enable them to lower costs and increase their returns to shareholders.The term _______ is derogatively applied to businesses that accept such financial offerings from government.

Accepted Answer

The term derogatively applied to businesses that accept financial offerings from the government is "corporate welfare." This is because it is seen as businesses receiving undeserved benefits from the government, which is similar to how social welfare programs are viewed by some businesses and organizations.

Question 19

The corporate agenda includes all of the following,except:

Accepted Answer

Increased trade barriers go against the corporate agenda of promoting free trade and global markets. The other choices align with the typical goals of corporations to reduce costs, increase profits, and decrease regulatory and tax burdens.

Question 20

The taxi industry is one of the most regulated in Canada.

Accepted Answer

The taxi industry is heavily regulated with various rules and regulations set by the government to ensure passenger safety and fair competition among taxi companies.

Quiz 10: Regulating Business Ethics and Responsibilities

Democratic capitalist countries rely exclusively on market forces to regulate business practices.

Self-regulation is the regulatory form imposed on business by the corporation itself,industry,and/or market forces.

The Employment Insurance program,operated by the Federal Government,is designed to balance the premium revenues with the actual costs of the program.This priority is an example of which form of privatization?

Self-regulation is more likely to be accepted because it is voluntarily developed and adapted.

Businesses,not government,are the architects of economic growth.

The government as a protector of business interest can be seen in the tariff and non-tariff barriers that exist to shield Canadian industry from foreign competition.

Doing business with the government is sometimes conducted in an inappropriate manner.

The organic food industry in Canada has an obligation to protect the interest of its consumers.This form of regulation is:

Self-regulation is criticized because it impairs business competition and innovation due to self-serving restraint by industry participants.

One form of privatization is the monopoly franchise.

Corporations wishing to do business with the Government must certify that they and any affiliates have not been charged with any of the offences anywhere in the world in the past ten years.

Corporations wishing to do business with the Government must certify that they and any affiliates have not been charged with any of the offences anywhere in the world in the past ten years.

The demand for increasing legislation increases following a business scandal.

In a highly competitive marketplace,market forces serve to regulate business practice no regulation is necessary.

In 2000,the Government of Canada introduced its Integrity Framework to deal with the lack of action on this issue.

Many government-owned enterprises have been sold or dissolved as governments became disillusioned with their operation or concluded the private sector could operate such corporations more effectively.

The corporate agenda includes all of the following,except:

The taxi industry is one of the most regulated in Canada.