Question 1

Business ethics and regular ethics are the exact same.

Accepted Answer

A) True 
 B)False  False

Question 2

If a business decides to act outside of the prevailing ethical norms of that community:

Accepted Answer

A)  It risks damage to its reputation and ill will. 
B)  There really is no risk to businesses since the community really needs the business to survive. 
C)  It only has to worry about the legal implications of its actions. 
D)  It takes the chance the law will impose fines against it. 
E)  There should be no concerns because the business can move to another community if it needs to. 
A)  It risks damage to its reputation and ill will. 
B)  There really is no risk to businesses since the community really needs the business to survive. 
C)  It only has to worry about the legal implications of its actions. 
D)  It takes the chance the law will impose fines against it. 
E)  There should be no concerns because the business can move to another community if it needs to. A

Question 3

Economist Milton Friedman argued that the only social responsibility of business is:

Accepted Answer

A)  to increase profits 
B)  to do right by others 
C)  to follow the law 
D)  to increase shareholder values 
E)  to not harm the environment 
A)  to increase profits 
B)  to do right by others 
C)  to follow the law 
D)  to increase shareholder values 
E)  to not harm the environment A

Question 4

What does the value of justice mean?

Accepted Answer

A)  To possess a large enough supply of goods and services to meet basic demands 
B)  To possess the capacity or resources to act as one wishes 
C)  To treat all humans identically, regardless of race, class, gender, age and sexual preference 
D)  To be safe from those wishing to interfere with your property rights 
E)  To maximize the amount of wealth in society 
A)  To possess a large enough supply of goods and services to meet basic demands 
B)  To possess the capacity or resources to act as one wishes 
C)  To treat all humans identically, regardless of race, class, gender, age and sexual preference 
D)  To be safe from those wishing to interfere with your property rights 
E)  To maximize the amount of wealth in society

Question 5

The Economist published an interview of 500 top American business executives, who listed four factors they believe are essential for profits and corporate citizenship to function as partners. These four factors are:

Accepted Answer

A)  Compliance with community standards at all levels, focus on profit above ethics, community engagement, and a focus on fairness. 
B)  Ethics at all levels, leadership at all levels, community engagement at all levels, and a focus on profit as the ultimate goal for all levels. 
C)  Leadership at all levels, ethics at the upper level, community engagement at all levels, and positive employee/employer feedback. 
D)  Ethics at all levels, leadership at all levels, community engagement at all levels, and private ownership. 
E)  Leadership at all levels, employee engagement, rigorous measurement of achievement, and public-private partnerships. 
A)  Compliance with community standards at all levels, focus on profit above ethics, community engagement, and a focus on fairness. 
B)  Ethics at all levels, leadership at all levels, community engagement at all levels, and a focus on profit as the ultimate goal for all levels. 
C)  Leadership at all levels, ethics at the upper level, community engagement at all levels, and positive employee/employer feedback. 
D)  Ethics at all levels, leadership at all levels, community engagement at all levels, and private ownership. 
E)  Leadership at all levels, employee engagement, rigorous measurement of achievement, and public-private partnerships.

Question 6

What does the value of freedom mean?

Accepted Answer

A)  To possess a large enough supply of goods and services to meet basic demands 
B)  To possess the capacity or resources to act as one wishes 
C)  To treat all humans identically, regardless of race, class, gender, age and sexual preference 
D)  To possess anything that someone is willing to grant you 
E)  To maximize the amount of wealth in society 
A)  To possess a large enough supply of goods and services to meet basic demands 
B)  To possess the capacity or resources to act as one wishes 
C)  To treat all humans identically, regardless of race, class, gender, age and sexual preference 
D)  To possess anything that someone is willing to grant you 
E)  To maximize the amount of wealth in society

Question 7

Business ethics is the application of ethics to the special problems and opportunities experienced by business people.

Accepted Answer

A) True 
 B)False

Question 8

What does a reference to the "social responsibility of business" mean? Should businesses consider community expectations, and why or why not?

Accepted Answer

The social responsibility of business co

Question 9

In some countries, businesses must pay bribes to receive supplies they need to stay in business.

Accepted Answer

A) True 
 B)False

Question 10

Consequentialism provides a rigid set of rules to follow regardless of the situation.

Accepted Answer

A) True 
 B)False

Question 11

If a company refuses to bribe a foreign official, even though bribery is necessary to do business in the foreign country, because the company believes bribery is always wrong regardless of consequences, the company is motivated by which theory of business ethics?

Accepted Answer

A)  Ethical relativism 
B)  Absolutism 
C)  Consequentialism 
D)  Deontology 
E)  Profit motive 
A)  Ethical relativism 
B)  Absolutism 
C)  Consequentialism 
D)  Deontology 
E)  Profit motive

Question 12

Jillian is the president of a company that makes small parts for the automotive industry. Customers are primarily auto manufacturers. Jillian's cousin, Frank, works at the company as a sales representative. A promotion to the sales manager position is open. Frank has applied and so has Lisa, another sales representative. While both Frank and Lisa are good employees, they are skilled in different areas, but Lisa has better evaluations from supervisors. Lisa is great with technology and with placing orders. She does an excellent job in following through with ordering problems. She is willing to work weekends and after hours. Frank, on the other hand, is better with customer relations, and customers seem to like him better, but does not follow through on orders as well as Lisa does. Jillian is unsure who to promote. She has several concerns. Her first concern is that it would be expected by her family that Frank should be promoted because he is family. Jillian's second concern is most customers are male, and Jillian suspects that the company's customers would respond better to Frank and purchase more parts from Frank because Lisa is female. Finally, Lisa and Jillian are childhood friends who are very close and Jillian knows that Lisa could use the extra money as a single mother. Define and discuss the WH framework for business ethics, and within that framework propose a solution. Be sure to fully address the populations, purposes, and guidelines included within "W" and "H."

Accepted Answer

Students should reference the

Question 13

Nora's roommate, Abigail, is getting ready to go out. Abigail had her hair styled and bought a new dress. Abigail asks Nora how she looks. Unfortunately, the stylist did a terrible job and the new dress is extremely unflattering. Abigail has no time to change. Discuss what Nora would say to Abigail, and why, under the following principles:
(a). Deontology
(b). Act utilitarianism
(c). Rule utilitarianism
(d). Virtue ethics

Accepted Answer

Student answers will likely vary based u

Question 14

Which statement is true concerning the relationship between ethical relativism and situational ethics?

Accepted Answer

A)  Like ethical relativism, situational ethics requires that we evaluate the morality of an action by imagining ourselves in the position of the person facing the ethical dilemma; but unlike ethical relativism, situational ethics allows us to judge other people's actions. 
B)  Like ethical relativism, situational ethics requires that we evaluate the morality of an action by imagining ourselves in the position of the person facing the ethical dilemma and also like ethical relativism, situational ethics allows us to judge the actions of others. 
C)  While the two theories are similar, ethical relativism upholds the existence of objective moral standards whereas situational ethics refuses to recognize the existence of objective moral standards. 
D)  Ethical relativism and situational ethics are the same theory. 
E)  There is no relationship between ethical relativism and situational ethics because the theories are fundamentally opposed to each other. 
A)  Like ethical relativism, situational ethics requires that we evaluate the morality of an action by imagining ourselves in the position of the person facing the ethical dilemma; but unlike ethical relativism, situational ethics allows us to judge other people's actions. 
B)  Like ethical relativism, situational ethics requires that we evaluate the morality of an action by imagining ourselves in the position of the person facing the ethical dilemma and also like ethical relativism, situational ethics allows us to judge the actions of others. 
C)  While the two theories are similar, ethical relativism upholds the existence of objective moral standards whereas situational ethics refuses to recognize the existence of objective moral standards. 
D)  Ethical relativism and situational ethics are the same theory. 
E)  There is no relationship between ethical relativism and situational ethics because the theories are fundamentally opposed to each other.

Question 15

The idea that we should interact with other people in a manner consistent with the manner in which we would like them to interact with us is called the ________.

Accepted Answer

A)  Equalization Rule 
B)  Ethical Realization Rule 
C)  Silver Rule 
D)  Golden Rule 
E)  Ten Commandments Rule 
A)  Equalization Rule 
B)  Ethical Realization Rule 
C)  Silver Rule 
D)  Golden Rule 
E)  Ten Commandments Rule

Question 16

The ________ for ethical behavior seeks consideration of what the world would be like if a decision is copied by everyone else.

Accepted Answer

A)  Golden rule 
B)  Universalization test 
C)  Public disclosure 
D)  Relevant disclosure 
E)  World rule 
A)  Golden rule 
B)  Universalization test 
C)  Public disclosure 
D)  Relevant disclosure 
E)  World rule

Question 17

(The) ________ maintains that the right course of action is the option most consistent with the building and maintaining of human relationships.

Accepted Answer

A)  Ethics of care 
B)  Principle of virtue ethics 
C)  Deontology 
D)  Act utilitarianism 
E)  Rule utilitarianism 
A)  Ethics of care 
B)  Principle of virtue ethics 
C)  Deontology 
D)  Act utilitarianism 
E)  Rule utilitarianism

Question 18

Which of the following presents a problem when considering the theory of ethics known as absolutism?

Accepted Answer

A)  The questionable nature of the rules in most absolutist repositories seems overly flexible when applied to different situations. 
B)  The unquestionable nature of the rules in most absolutist repositories seems overly inflexible when applied to different situations. 
C)  The lack of objectivity. 
D)  The fact that most individuals associated with this theory have been proven to have acted to the detriment of their followers in one way or another. 
E)  The allegation that an excessive number of followers actually follow consequentialism. 
A)  The questionable nature of the rules in most absolutist repositories seems overly flexible when applied to different situations. 
B)  The unquestionable nature of the rules in most absolutist repositories seems overly inflexible when applied to different situations. 
C)  The lack of objectivity. 
D)  The fact that most individuals associated with this theory have been proven to have acted to the detriment of their followers in one way or another. 
E)  The allegation that an excessive number of followers actually follow consequentialism.

Question 19

Ethical relativism is a theory of ethics that denies the existence of objective moral standards and teaches that individuals must evaluate actions on the basis of what they feel is best for themselves.

Accepted Answer

A) True 
 B)False

Question 20

Ethical decision making has which of the following values?

Accepted Answer

A)  Maximization of profits 
B)  Justice and profit maximization 
C)  Freedom, profit maximization, security 
D)  Freedom, security, justice, and efficiency 
E)  Freedom, security, and profit maximization 
A)  Maximization of profits 
B)  Justice and profit maximization 
C)  Freedom, profit maximization, security 
D)  Freedom, security, justice, and efficiency 
E)  Freedom, security, and profit maximization

Exam 2: Business Ethics

Business ethics and regular ethics are the exact same.

If a business decides to act outside of the prevailing ethical norms of that community:

Economist Milton Friedman argued that the only social responsibility of business is:

What does the value of justice mean?

The Economist published an interview of 500 top American business executives, who listed four factors they believe are essential for profits and corporate citizenship to function as partners. These four factors are:

What does the value of freedom mean?

Business ethics is the application of ethics to the special problems and opportunities experienced by business people.

What does a reference to the "social responsibility of business" mean? Should businesses consider community expectations, and why or why not?

In some countries, businesses must pay bribes to receive supplies they need to stay in business.

Consequentialism provides a rigid set of rules to follow regardless of the situation.

If a company refuses to bribe a foreign official, even though bribery is necessary to do business in the foreign country, because the company believes bribery is always wrong regardless of consequences, the company is motivated by which theory of business ethics?

Which statement is true concerning the relationship between ethical relativism and situational ethics?

The idea that we should interact with other people in a manner consistent with the manner in which we would like them to interact with us is called the ________.

The ________ for ethical behavior seeks consideration of what the world would be like if a decision is copied by everyone else.

(The) ________ maintains that the right course of action is the option most consistent with the building and maintaining of human relationships.

Which of the following presents a problem when considering the theory of ethics known as absolutism?

Ethical relativism is a theory of ethics that denies the existence of objective moral standards and teaches that individuals must evaluate actions on the basis of what they feel is best for themselves.

Ethical decision making has which of the following values?

An Introduction to Dynamic Business Law

The Us Legal System

Alternative Dispute Resolution

Constitutional Principles

International and Comparative Law

Crime and the Business Community

Tort Law

Negligence and Strict Liability

Product Liability

Liability of Accountants and Other Professionals

Intellectual Property

Introduction to Contracts

Agreement

Consideration

Capacity and Legality

Legal Assent

Contracts in Writing

Third-Party Rights to Contracts

Discharge and Remedies

Introduction to Sales and Lease Contracts

Title, Risk of Loss, and Insurable Interest

Performance and Obligations Under Sales and Leases

Remedies for Breach of Sales and Lease Contracts

Warranties

Negotiable Instruments: Negotiability and Transferability

Negotiation, Holder in Due Course, and Defenses

Liability, Defenses, and Discharge

Checks and Electronic Fund Transfers

Secured Transactions

Other Creditors Remedies and Suretyship

Bankruptcy and Reorganization

Agency Formation and Duties

Liability to Third Parties and Termination

Forms of Business Organization

Partnerships: Nature, Formation, and Operation

Partnerships: Termination and Limited Partnerships

Corporations: Formation and Financing

Corporations: Directors, Officers, and Shareholders

Corporations: Mergers, Consolidations, Terminations

Corporations: Securities and Investor Protection

Employment and Labor Law

Employment Discrimination

Administrative Law

Consumer Law

Environmental Law

Antitrust Law

The Nature of Property, Personal Property, and Bailments

Real Property

Landlord-Tenant Law

Insurance Law

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