Question 1

Situational ethics judges a person's ethics, and it does so from the perspective of the actor.

Accepted Answer

Situational ethics evaluates ethical decisions based on the context and circumstances in which they are made, and takes into account the intentions and motivations of the person making the decision. Therefore, it places importance on the perspective of the actor.

Question 2

The two major forms of utilitarianism are situational and a priori.

Accepted Answer

The two major forms of utilitarianism are act-utilitarianism and rule-utilitarianism, not situational and a priori.

Question 3

According to Adam Smith, the capitalistic system is composed of economic motivation, private productive property, free enterprise, free markets, competition, and limited government.

Accepted Answer

Adam Smith, known as the "father of modern economics," developed the theory of capitalism. He believed that the capitalist system was composed of these elements: economic motivation, private productive property, free enterprise, free markets, competition, and limited government.

Question 4

The study of business ethics has several central authorities.

Accepted Answer

The answer of The study of business ethics has several...

Question 5

To a libertarian, it is not unjust for some people to accumulate fortunes while others live in poverty.

Accepted Answer

To a libertarian, the accumulation of wealth is seen as a natural and just outcome of free market exchange and individual effort. They do not believe that the government should interfere with the distribution of wealth, even if it results in some people living in poverty.

Question 6

Deontologists are sometimes criticized for rigidity and excessive formalism.

Accepted Answer

Deontologists believe in following rules and duties regardless of their consequences or individual circumstances, which can result in rigidity and excessive formalism.

Question 7

Most philosophers now agree that people can discover fundamental ethical rules by applying careful a priori
reasoning.

Accepted Answer

Most philosophers do not agree that fundamental ethical rules can be discovered through a priori reasoning alone. Many argue that ethical principles must also be informed by empirical observations and practical experience.

Question 8

A leading proponent of the utilitarian approach to ethics was the eighteenth-century philosopher Immanuel Kant.

Accepted Answer

Immanuel Kant is not a proponent of utilitarianism, but rather is associated with deontological ethics.

Question 9

According to Milton Friedman, the social obligation of a corporation is to return as much money as possible to its shareholders.

Accepted Answer

Milton Friedman was a proponent of "shareholder theory," which holds that the sole social responsibility of a corporation is to increase profits for its shareholders. He famously argued that "the social responsibility of business is to increase its profits" and that attempts to pursue social or moral goals would be a violation of the market's purpose.

Question 10

Jeremy Bentham was not a proponent of utilitarianism.

Accepted Answer

Jeremy Bentham is known as the founding father of utilitarianism. He was a strong proponent of this ethical theory and developed it in his famous work "An Introduction to the Principles of Morals and Legislation".

Question 11

Ethics can be broadly defined as the study of what is good or right for human beings.

Accepted Answer

Ethics is typically defined as the philosophical study of moral values and principles that guide individual and group behavior. It involves examining concepts such as what is considered good, right, and just in various contexts and situations.

Question 12

Intuitionism holds that rational persons possess inherent powers to assess the correctness of actions.

Accepted Answer

Intuitionism is a theory of ethics that suggests there are objective moral truths that can be apprehended by our innate moral intuitions. According to intuitionists, rational persons possess inherent powers to assess the correctness of actions based on these moral intuitions.

Question 13

Harvard philosopher John Rawls stressed liberty as the most important obligation owed by a society to its members.

Accepted Answer

John Rawls emphasized justice as fairness and the idea of the original position and veil of ignorance, rather than prioritizing liberty above all other social obligations.

Question 14

One criticism of utilitarianism is that it ignores justice in some important instances.

Accepted Answer

Utilitarianism is focused on maximizing overall happiness or pleasure, often through actions that benefit the greatest number of people. However, in certain situations, this can lead to injustice towards minority or marginalized groups. For example, a utilitarian approach might justify sacrificing the rights of a smaller group in order to benefit the larger group, which can be seen as morally problematic from a justice-based perspective.

Question 15

Although corporations are not persons but artificial entities created by the state, it is clear that they can and should be held morally accountable.

Accepted Answer

The answer of Although corporations are not persons but artificial...

Question 16

Because there are no universal, clear-cut standards to apply to ethical analysis, it is impossible to make meaningful ethical judgments.

Accepted Answer

While there may not be universal, clear-cut standards for ethical analysis, there are still frameworks and principles that can be used to analyze ethical issues and make ethical judgments. These frameworks may involve considering consequences, principles such as autonomy and justice, and the perspectives of different stakeholders. While ethical analysis may not always result in a definite answer, it is still possible to make meaningful ethical judgments through careful consideration and application of ethical principles.

Question 17

Factors leading to the need for the ethical and social responsibility of business are the demands of maintaining a competitive, fair marketplace and the size and power of individual corporations.

Accepted Answer

The demands of maintaining a competitive, fair marketplace and the size and power of individual corporations are indeed factors that lead to the need for the ethical and social responsibility of business.

Question 18

In employment relationships, ethical issues arise regarding safety and compensation of workers, privacy, and the legitimacy of whistle-blowing.

Accepted Answer

Ethical issues are commonly raised regarding these aspects of employment relationships.

Question 19

An ethical relativist looks to a central authority, such as the Bible, to guide her in ethical decision making.

Accepted Answer

An ethical relativist believes that ethics are subjective and vary from culture to culture, therefore they do not look to a central authority for guidance.

Question 20

Not everything that is legal is also morally correct.

Accepted Answer

There are many actions that are legal but are still considered immoral by many people. For example, cheating on a partner, lying to someone, or being rude to others may not be illegal, but they are still seen as morally wrong. On the other hand, there are actions that are illegal but are morally justifiable, such as breaking a law to save someone's life in an emergency. Therefore, the legality of an action does not always determine its morality.

Quiz 2: Business Ethics and the Social Responsibility of Business