p 72 A basic idea in the legal environment in the United States is that

P 72 a basic idea in the legal environment in the

This preview shows page 72 - 75 out of 138 pages.

(p. 72) A basic idea in the legal environment in the United States is that attempts by business to limit competition are considered contrary to the public interest. TRUE AACSB: Analytic Bloom's: Knowledge Difficulty: Easy Learning Objective: 03-06 know why you might be sent to prison if you ignore the political and legal environment. 66. (p. 73) Business and individual managers are subject to both criminal and civil laws. TRUE AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Easy Learning Objective: 03-06 know why you might be sent to prison if you ignore the political and legal environment. 67. (p. 73) A manager could be fined for violating the antimonopoly laws, but he or she could not be sent to jail. FALSE AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Easy Learning Objective: 03-06 know why you might be sent to prison if you ignore the political and legal environment. 68. (p. 74) The Sherman Act deals with tying contracts, exclusive dealing contracts, and price discrimination by manufacturers. FALSE AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Easy Learning Objective: 03-06 know why you might be sent to prison if you ignore the political and legal environment. 3-72
Image of page 72
Chapter 03 - Evaluating Opportunities in the Changing Market Environment 69. (p. 74) The Clayton Act deals with tying contracts, exclusive dealing contracts, and price- fixing conspiracies. FALSE AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Easy Learning Objective: 03-06 know why you might be sent to prison if you ignore the political and legal environment. 70. (p. 74) The Clayton Act focuses on practices which may substantially lessen competition-- such as tying contracts, exclusive dealing contracts and price discrimination by manufacturers. TRUE AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Easy Learning Objective: 03-06 know why you might be sent to prison if you ignore the political and legal environment. 71. (p. 74) The Magnuson-Moss Act regulates product warranties. TRUE AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Easy Learning Objective: 03-06 know why you might be sent to prison if you ignore the political and legal environment. 72. (p. 74) Product warranties are regulated by the Magnuson-Moss Act. TRUE AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Easy Learning Objective: 03-06 know why you might be sent to prison if you ignore the political and legal environment. 3-73
Image of page 73
Chapter 03 - Evaluating Opportunities in the Changing Market Environment 73. (p. 73) Before the Pure Food and Drug Act was passed, it was assumed that the common law and the warning "let the buyer beware" would take care of consumers. TRUE AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Easy Learning Objective: 03-06 know why you might be sent to prison if you ignore the political and legal environment.
Image of page 74
Image of page 75

You've reached the end of your free preview.

Want to read all 138 pages?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture