Q#1: The modern corporations consist of ________.
(A) None of the given
(B) Stock holders, Employees, Customers
(C) Stock holders, Employees, Directors
(D) Directors, Managers, Customers
Answer: (C) Stock holders, Employees, Directors
Q#2: Which one of the following is NOT the criterion employed by different ethicists to evaluate moral reasoning?
(A) Moral reasoning must be logical
(B) Factual evidence must be accurate, relevant, and complete
(C) Moral standards must be consistent
(D) Moral development must be ethical
Answer: (D) Moral development must be ethical
Q#3: Mujeeb and Imran are defendants charged by the government for insider trading. According to the prisoner’s dilemma scenario what will result in the worst outcome for Mujeeb?
(A) Mujeeb confesses and Imran does not
(B) Both Mujeeb and Imran confess
(C) Both Mujeeb and Imran stay silent
(D) Mujeeb doesn’t confess and Imran does
Answer: (C) Both Mujeeb and Imran stay silent
Q#4: Who is the supporter of Categorical Imperative?
(A) Kant
(B) Sidgwick
(C) Bentham
(D) Mill
Answer: (A) Kant
Q#5: If Sameer destroy Sajjid’s property or injure him bodily, Sameer will be held morally responsible for paying him damages. This is an example of:
(A) Redistributive justice
(B) Compensatory justice
(C) Distributive justice
(D) Socialist justice
Answer: (B) Compensatory justice
Q#6: A female manager supervises 10 people and one of them is her friend. She catches her friend stealing. This situation represents:
(A) Demands of caring
(B) Demand of justice
(C) Conflict between caring and justice
(D) None of the given options
Answer: (C) Conflict between caring and justice
Q#7: Which moral judgment approach is used when actions and policies affect welfare and freedom of individuals?
(A) Utility
(B) Rights
(C) Justice
(D) Caring
Answer: (B) Rights
Q#8: In which system would slavery be entirely legal?
(A) Free market system
(B) Command economy system
(C) Voluntary exchange system
(D) Pure free market system
Answer: (D) Pure free market system
Q#9: Who defended free markets on the basis of utilitarian argument?
(A) Friedrich A. Hayek
(B) Alasdair MacIntyre
(C) Adam Smith
(D) John Locke
Answer: (A) Friedrich A. Hayek
Q#10: An economic system where means of production are privately owned for profit is called:
(A) Communism
(B) Capitalism
(C) Liberalism
(D) Socialism
Answer: (B) Capitalism
Q#11: Which economist strongly criticized inequalities created by free markets and private property?
(A) John Maynard Keynes
(B) Karl Marx
(C) Adam Smith
(D) David Ricardo
Answer: (B) Karl Marx
Q#12: Which of the following is NOT a moral outcome of perfectly competitive markets?
(A) Justice
(B) Utility
(C) Rights
(D) Faith
Answer: (D) Faith
Q#13: Chicken Delight forcing franchise buyers to purchase equipment is an example of:
(A) Tying arrangement
(B) Exclusive dealing arrangement
(C) Retail price maintenance agreement
(D) Manipulation of supply
Answer: (A) Tying arrangement