Chapter Test Social Responsibility of Business
and Government
Directions: Place a T for True or an F for False to show
whether each of the following statements is true or false.
1. Lumber is an example of a nonrenewable resource. T
2. OSHA is a federal agency that regulates workplace safety standards. T
3. Principles of morality or rules of conduct are called ethics. T
4. The U.S. government does not play a major role in the American economy.
5. Your computer is an example of intellectual property. F
6. A trademark is a word, letter, or symbol linked with a specific company or product. T
7. Most goods and services you use are provided by the U.S. government.
8. All public utility companies are owned and operated by state governments. F
9. A monopoly exists when a business has control of the market for a product or service. T
10. Government income is called revenue.
