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PHI 445 Week 2 Quiz - NEW Spring 2016 1. In 2007, a defense contractor was found guilty for working with a coconspirator to submit bids with increased prices for a bulletproof vest contract so that a particular company would win the contract at a lower price. This is an example of 2. In the late 1990s, Google, Yahoo, and MSN purchased most of the existing search engines, such as Lycros and Jeeves. Google now holds approximately a 90% share of the market. This is an example of 3. According to Karl Marx, history is the record of 4. Antitrust acts such as the Sherman Antitrust Act of 1980 were passed to protect against 5. The idea that consumers buy luxury items without considering the hard labor that went into making them is part of the viewpoint of 6. _________ claimed that if businesses were allowed to follow their own self-interest, the economy of the country would improve. 7. One feature of a corporation is that it can continue indefinitely beyond the lives of individual managers and stockholders of the corporation. This is called 8. When a company’s leaders have the illusion of invulnerability that causes them to underestimate factors that lead to failure, this is an example of: 9. States have the authority to grant corporate charters, which give permission for corporations to exist. When a state decides to revoke a corporation’s charter because of some egregious crime, this is called corporate 10. Which of the following is not a business structure recognized by the U.S. Internal Revenue Service? 11. According to economist Milton Friedman 12. You are a shareholder in a corporation that filed bankruptcy. The liabilities will be more than the assets. What you will be required to pay will be based on