Chapter 4

Question 1

Let the buyer beware

Answer 1

Caveat Emptor

Question 2

This codified the ethics of exchange between buyers and sellers. These were the right (1) to safety, (2) to be informed, (3) to choose, and (4) to be heard

Answer 2

Consumer Bill of Rights

Question 3

Occurs when the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products

Answer 3

Cause Marketing

Question 4

Employees who report unethical or illegal actions of their employers

Answer 4

Whistle-blowers

Question 5

Means that organizations are part of a larger society and are accountable to that society for their actions

Answer 5

Social responsibility

Question 6

Holds that companies have a simple duty to maximize profits for their owners or stockholders

Answer 6

Profit Responsibility

Question 7

Focuses on the obligations an organization has to those who can affect achievement of its objectives

Answer 7

Stakeholder responsibility

Question 8

Refers to obligations that organizations have to the preservation of the ecological environment and to the general public

Answer 8

Societal Responsibility