Which of the following is the study of right and wrong?
Ethics is two things. First, ethics refers to well-founded standards of right and wrong that prescribe what humans ought to do, usually in terms of rights, obligations, benefits to society, fairness, or specific virtues.
Which of the following are rights protected as basic consumer rights?
In 1962, President John F. Kennedy outlined what he called the Consumer Bill of Rights. The bill stated that every person has four basic consumer rights—the right to be informed, the right to choose, the right to safety, and the right to be heard.
What is the application of moral standards to business situation?
Business ethics is the application of moral standards to business situations.
What are recognized as principles of right conduct?
Morals, ethics refer to rules and standards of conduct and practice. Morals refers to generally accepted customs of conduct and right living in a society, and to the individual's practice in relation to these: the morals of our civilization.
What are consumer rights explain?
Means right to be protected against the marketing of goods and services, which are hazardous to life and property. The purchased goods and services availed of should not only meet their immediate needs, but also fulfil long term interests.
What is the meaning of consumer right?
The definition of Consumer right is 'the right to have information about the quality, potency, quantity, purity, price and standard of goods or services', as it may be the case, but the consumer is to be protected against any unfair practices of trade.
What ethical issues affecting consumers and society as a whole are created by unfair competition?
Answer and Explanation: The two ethical issues created by unfair competition that mainly affect consumers and society are the unfair distribution of goods among people and the introduction of various legal consequences, which might lead to the removal of some firms from the market.
Which of the following is the application of ethics to special problems and opportunities experience by those in business?
Business ethics is the application of ethics to the special problems and opportunities experienced by businesspeople.
What do we mean by ethics?
Ethics examines the rational justification for our moral judgments; it studies what is morally right or wrong, just or unjust. In a broader sense, ethics reflects on human beings and their interaction with nature and with other humans, on freedom, on responsibility and on justice.
What is meant by ethical principles?
Definition. Ethical principles are part of a normative theory that justifies or defends moral rules and/or moral judgments; they are not dependent on one's subjective viewpoints.
Which of the following refers to a system of moral principles or rules of conduct relating to human behavior?
What are ethics? Ethics are a system of moral principles or rules that say what is and is not acceptable. Generally speaking, ethics refer to the rules or code of conduct that people use to determine when an action is acceptable or not.
What are the 4 main ethical principles?
The Fundamental Principles of Ethics. Beneficence, nonmaleficence, autonomy, and justice constitute the 4 principles of ethics.
What are the 5 rights of a consumer?
Consumer rights are consumer protections that encourage businesses to produce products and services that will be beneficial and safe for consumers. In this lesson, we will identify and discuss the five major rights of consumers: safety, information, choice, voice, and redress.
What are the 5 consumer protection?
Among them are the Federal Food, Drug, and Cosmetic Act, Fair Debt Collection Practices Act, the Fair Credit Reporting Act, Truth in Lending Act, Fair Credit Billing Act, and the Gramm–Leach–Bliley Act.
What are the 6 consumer rights?
Rights of consumers: Six consumer rights have been defined in the Bill, including the right to: (i) be protected against marketing of goods and services which are hazardous to life and property; (ii) be informed of the quality, quantity, potency, purity, standard and price of goods or services; (iii) be assured of ...
Which of the following is not a basic consumer rights?
The basic rights of any individual as a consumer are right to safety, right to information, right to choose, right to be heard, right to seek redressal, right to consumer education, but not the right to credit purchase.
Which is the highest standard for human behavior?
b. After upholding the law, business ethics are the highest standard for human behavior.
Why should business ethics be set aside?
c. Business ethics, like morals, may be set aside in business transactions because following the law is a business' highest duty. #N#. d. Business ethics is the application of moral standards to business situations.
What is the main consequence of ethics violations in the business workplace?
d. The main consequence of ethics violations in the business workplace is humiliation
Is it unethical to pressure others in the workplace?
a. As long as an issue is legal, it is not unethical to pressure others in the workplace to undertake the action regarding the issue
What is business ethics?
Business ethics is the application of moral standards to business situations.
What chapter is Ethics and Social Responsibility in Business?
Start studying Chapter 2: Ethics and Social Responsibility in Business. Learn vocabulary, terms, and more with flashcards, games, and other study tools.
How can the government encourage ethical behavior in business?
The government can encourage ethical behavior in business by enacting more stringent regulations such as the Sarbanes-Oxley Act of 2002. During the Great Depression, factory production fell by almost half and about 25 percent of the nation's workforce was unemployed.
Can ethical problems be detrimental?
Ethical problems can have an extremely detrimental effect on relationships among co-workers. Which of the following would NOT be an ethical problem created by employee relationships?