Question 1

Adam Smith, in The Wealth of Nations , said the capitalistic system was composed of six institutions, which include all but which of the following?
A) Economic motivation.
B) Free enterprise.
C) Labor.
D) Limited government.

Accepted Answer

Adam Smith's six institutions of capitalism include economic motivation, free enterprise, limited government, competition, private property, and the division of labor. "Labor" as a standalone institution is not one of them.

Question 2

The type of moral equality espoused by John Rawls is:
A) freedom to do what one wishes.
B) social and material equality.
C) freedom from government regulation.
D) equality of opportunity.

Accepted Answer

John Rawls is best known for his theory of justice as fairness, which includes the principle of equality of opportunity. He argues that social and economic inequalities should be arranged so that they are to the greatest benefit of the least advantaged, and attached to offices and positions open to all under conditions of fair equality of opportunity.

Question 3

Milo is the young, likable, optimistic, and generous son of a prominent public official. He has a master's degree in business and is the business partner of Kent and Lily in an oil drilling and exploration business. Milo also serves as a director on the board of the Corley Savings and Loan Association. While serving on the Corley Board, Milo votes to approve major loans to Kent and Lily without disclosing to the other directors that he is a business partner of Kent and Lily . Milo also personally arranges for a $900,000 line of credit from Corley for an oil drilling venture in which he is a partner with Kent . The drilling venture is unsuccessful and Kent and Lily both default on their loans to Corley , which then causes the S & L to become insolvent. Federal banking officials seize Corley and liquidate its assets to pay creditors and depositors. Because Corley is federally insured, tax money is also used to pay off depositors whose deposits are insured under federal programs. Corley shareholders lose their investment money. Was Milo's conduct as a director of Corley ethical? Analyze his conduct in light of the following ethical theories: 
a. Intuitionism and the "Television Test." 
b. Milton Friedman's ideas on corporate governance. 
c. Deontological theories. 
d. Rule utilitarianism. 
e. Ethical relativism.

Accepted Answer

The answer of Milo is the young, likable, optimistic, and...

Question 4

An auto designer chooses to devote his efforts to design an automobile that is the safest vehicle possible. He does so because he wishes to save lives and prevent disabling injuries. He believes he and his employer have a duty to provide the public with the safest possible vehicle. The designer's approach to ethical decision-making is best characterized as:
A) utilitarian.
B) deontological.
C) ethically relative.
D) ethically fundamental.

Accepted Answer

The designer's approach is deontological because it is based on the principle or duty to provide the safest possible vehicle, regardless of the consequences or outcomes. This approach focuses on the inherent rightness of an action (providing the safest vehicle) rather than its consequences (such as saving lives, which would be a utilitarian perspective).

Question 5

The ethical theory of intuitionism proposes that:
A) the power of an individual to assess the rightness or wrongness of decisions is as basic to human beings as the instinct for survival.
B) market outcomes should be the basis for distributing goods.
C) the "veil of ignorance" should be developed to consider the needs and rights of all society's members.
D) society should stress equality of opportunity, not results.

Accepted Answer

Intuitionism in ethics suggests that individuals have an innate ability to discern moral truths or the ethical value of actions, implying that the capacity to judge right from wrong is a fundamental aspect of human nature, akin to basic instincts such as survival.

Question 6

Social egalitarians believe:
A) the ends justifies the means.
B) society should provide each person with equal amounts of goods and services regardless of the contribution each makes to increase society's wealth.
C) society should divide wealth based on each person's contribution.
D) that if persons wish to act morally, they should emulate those in the society who always seem to do the right thing.

Accepted Answer

Social egalitarians focus on the idea that society should ensure equal access to goods and services for all its members, regardless of the individual contributions to society's wealth. This belief is centered around the principle of equality of outcome, rather than equality of opportunity or distribution based on contribution.

Question 7

Analyze whether telling a lie is unethical in terms of each of the following ethical theories: 
a. The deontological approach. 
b. Utilitarianism. 
c. Intuitionism and the "Television Test." 
d. Ethical relativism. 
e. Ethical fundamentalism.

Accepted Answer

The answer of Analyze whether telling a lie is unethical...

Question 8

Which of the following is a common criticism of ethical relativism?
A) It promotes open-mindedness and tolerance.
B) It assumes that a person's actions are always correct for that person, but if that is true, then all behavior is, by definition, moral.
C) It is rigid and excessively formal.
D) It is too judgmental.

Accepted Answer

Ethical relativism posits that moral standards are determined by cultural or individual preferences, leading to the criticism that if all actions are correct according to an individual's or culture's standards, then it logically follows that all behavior could be deemed moral, undermining the concept of universal moral wrongs.

Question 9

Which of the following ethical theories  declares that if individuals wish to act morally, they should seek out and emulate those who always seem to know the right choice in any given situation and who always seem to do the right thing?
A) the television test theory.
B) deontology.
C) the good person philosophy.
D) situational ethics.

Accepted Answer

The answer of Which of the following ethical theories  declares...

Question 10

How does Immanuel Kant's approach to ethical decision-making differ from that of an ethical fundamentalist?
A) Kant's approach is premised on the rationality of human beings and not on principles handed down from above.
B) Kant's approach stresses liberty and not justice.
C) Kant's approach judges society in moral terms by how it distributes goods and services.
D) Kant's approach assesses each separate act according to whether it maximizes pleasure over pain.

Accepted Answer

Kant's ethical philosophy, particularly his Categorical Imperative, emphasizes the importance of rationality and autonomy in moral decision-making, contrasting with ethical fundamentalism which often relies on unchangeable principles or commands from a higher authority.

Question 11

In what way or ways are ethical relativism  and  situational ethics similar?
A) They both look to a central authority or set of rules to guide ethical decision-making.
B) They both assess each separate act according to whether it maximizes pleasure over pain.
C) They both judge actions from the perspective of the actor.
D) They both begin with an evaluation of the economic benefit of a decision.

Accepted Answer

Both ethical relativism and situational ethics emphasize the importance of context and the individual's perspective in making moral judgments, rather than adhering strictly to universal principles or rules.

Question 12

Under which ethical system would it be ethical to compel a few citizens to undergo painful or fatal medical tests in order to develop cures for the rest of the world?
A) Utilitarianism.
B) Ethical fundamentalism.
C) Distributive justice.
D) Libertarianism.

Accepted Answer

Utilitarianism posits that actions should be evaluated based on their ability to provide the greatest amount of happiness or pleasure for the greatest number of people. In this scenario, the few citizens who are compelled to undergo painful or fatal medical tests may suffer, but if their sacrifice leads to the development of cures that benefit the rest of the world, the overall happiness and well-being of a larger population would be maximized. Therefore, under utilitarianism, it could be argued that this action is ethical.

Question 13

To a __________ , whether telling a lie in a given instance would produce greater pleasure than telling the truth is less important than deciding if a general practice of lying would maximize society's pleasure.
A) deontologist
B) rule utilitarian
C) ethical fundamentalist
D) ethical relativist

Accepted Answer

A rule utilitarian focuses on the consequences of adopting certain rules of conduct, rather than evaluating individual actions, to maximize overall societal pleasure.

Question 14

Compare the social ethics theories of distributive justice, libertarianism, and social egalitarianism. How are they alike? How are they different? Explain your answer.

Accepted Answer

The answer of Compare the social ethics theories of distributive...

Question 15

Nineteen-year-old Kiren was raised in a home where Christianity is practiced and he attended parochial school through eighth grade. Kiren is a good student and citizen who conforms to the expectations of his church, family, and peers. He does so because he loves his family and church, is loyal to them, and trusts them. Under Kohlberg's schematic analysis, Kiren is most likely at what stage of moral development?
A) Pre-conventional.
B) Conventional.
C) Post-conventional.
D) Adult.

Accepted Answer

Kiren is at the Conventional stage of moral development according to Kohlberg's theory. This stage is characterized by individuals who conform to the expectations of their family, peers, and society, and make moral decisions based on these norms and expectations. Kiren's behavior of conforming to the expectations of his church, family, and peers because of his loyalty and trust in them is indicative of this stage.

Question 16

A factor demanding the ethical and social responsibility of business is:
A) the "invisible hand" of competition.
B) the sheer size and power of individual corporations.
C) the fact that self-regulation has been effective in achieving social goals.
D) great amounts of wealth and economic power are controlled by a small number of shareholders who own and exercise tight control over a large number of corporations.

Accepted Answer

The sheer size and power of individual corporations demand ethical and social responsibility because their actions can have significant impacts on society and the environment.

Question 17

Which of the following is a common criticism of deontological ethical theories?
A) They are excessively pragmatic.
B) They are rigid and excessively formal.
C) They only consider actions by their motives.
D) They fail to consider universal principles.

Accepted Answer

Deontological ethical theories are often criticized for being rigid and excessively formal because they focus on adherence to moral rules or duties regardless of the consequences, which can sometimes lead to impractical or harsh outcomes.

Question 18

The definition of business ethics includes which of the following points?
A) It is a branch of applied ethics.
B) It is fully codified in federal statutes.
C) It has a central authority and universal standards.
D) It is based on maximizing profits for a business.

Accepted Answer

Business ethics is indeed a branch of applied ethics that examines ethical principles and moral or ethical problems that can arise in a business environment. It is not fully codified in federal statutes, does not have a central authority and universal standards, and is not solely based on maximizing profits for a business.

Question 19

Discuss each of the following ethical theories with regard to whether you accept or reject them for your own actions and decisions. 
a. Intuitionism and the "Television Test." 
b. Rule utilitarianism. 
c. Ethical relativism. 
d. Ethical fundamentalism. 
e. The deontological approach. 
f. Milton Friedman's ideas on corporate governance.

Accepted Answer

The answer of Discuss each of the following ethical theories...

Question 20

A major criticism of utilitarianism as an ethical theory is that:
A) it is rigid.
B) in some important instances it ignores justice.
C) it results in the judgment that a person's actions are always moral for that person and therefore exempt from punishment.
D) it is excessively formal.

Accepted Answer

Utilitarianism, which advocates for the greatest happiness for the greatest number, can sometimes overlook individual rights and justice. For example, it might justify sacrificing the few for the benefit of the many, which raises concerns about fairness and justice for those few.

Quiz 2: Business Ethics

Adam Smith, in The Wealth of Nations , said the capitalistic system was composed of six institutions, which include all but which of the following?

The type of moral equality espoused by John Rawls is:

The ethical theory of intuitionism proposes that:

Social egalitarians believe:

Analyze whether telling a lie is unethical in terms of each of the following ethical theories: a. The deontological approach. b. Utilitarianism. c. Intuitionism and the "Television Test." d. Ethical relativism. e. Ethical fundamentalism.

Which of the following is a common criticism of ethical relativism?

Which of the following ethical theories declares that if individuals wish to act morally, they should seek out and emulate those who always seem to know the right choice in any given situation and who always seem to do the right thing?

How does Immanuel Kant's approach to ethical decision-making differ from that of an ethical fundamentalist?

In what way or ways are ethical relativism and situational ethics similar?

Under which ethical system would it be ethical to compel a few citizens to undergo painful or fatal medical tests in order to develop cures for the rest of the world?

To a __________ , whether telling a lie in a given instance would produce greater pleasure than telling the truth is less important than deciding if a general practice of lying would maximize society's pleasure.

Compare the social ethics theories of distributive justice, libertarianism, and social egalitarianism. How are they alike? How are they different? Explain your answer.

A factor demanding the ethical and social responsibility of business is:

Which of the following is a common criticism of deontological ethical theories?

The definition of business ethics includes which of the following points?

A major criticism of utilitarianism as an ethical theory is that: