Question 1

Laws must be static and unyielding in order to provide stability for a society.

Accepted Answer

Laws should not be completely static as it can hinder progress and change in a society. Flexibility and the ability to adapt to changing circumstances is important for a functioning legal system. However, laws should still provide a level of stability and consistency to ensure fairness and justice for all individuals in a society.

Question 2

Which of the following statements best illustrates the view of "utilitarianism"?
I. From each according to his abilities, to each according to his needs.
II. The risk reasonably to be perceived defines the duty to be obeyed and risks imports relation; it is risk to another or to others within the range of apprehension.
III. An action is right when maximizing welfare and total well-being.
IV. Individuals should pursue his or her own self-interest, even at the expense of others.
A) I only
B) III only
C) I and II
D) I, II, and III

Accepted Answer

Utilitarianism is a moral philosophy that prioritizes the greatest good for the greatest number of people. Statement III, "An action is right when maximizing welfare and total well-being," best illustrates this view. Statements I and II do not directly relate to utilitarianism, and statement IV contradicts utilitarianism by promoting self-interest over the well-being of others.

Question 3

Discuss how multinational corporations can be both a benefit and a detriment to society.

Accepted Answer

As a benefit, multinational corporations provide new jobs and produce new or less expensive goods and services. They introduce technology, capital, and skills to their host countries and raise the standard of living.
As a detriment, they have been blamed for taking advantage of weak and/or corrupt governments to exploit resources in developing countries; for implementing questionable safety, environmental, and financial practices; and for profiting from unsustainable technologies while using their political clout to block reasonable regulation. These corporations are implicated in some of the world's most pressing problems including the growing disparities between rich and poor and global climate change.

Question 4

Virtue ethics:
A) focuses on what human beings are capable of being.
B) develop from learning how to make choices in difficult situations.
C) accepts that individuals rarely reach moral excellence.
D) are based on the concept that a person's ethical beliefs are developed in childhood and do not change.

Accepted Answer

Virtue ethics focuses on defining and achieving moral excellence by emphasizing the development of personal character and traits that lead to virtuous behavior. It is concerned with what kind of person one should strive to be rather than specific codes or rules of conduct. Thus, it requires an understanding of what human beings are capable of being.

Question 5

All of the following are considered exceptions to the general rule that there is no duty to rescue except:
A) Pre-existing duty: For example, lifeguards have signed contracts agreeing to rescue people in exchange for pay and benefits.
B) Witnessing an accident: This creates a duty to step in and help the injured.
C) Employer: A duty exists to help an employee injured while working for that employer.
D) Endangerment: If one puts another in danger, they are obligated to rescue the person put in danger.

Accepted Answer

The answer of All of the following are considered exceptions...

Question 6

Discuss the differences in utilitarianism and virtue ethics in making a decision.

Accepted Answer

The answer of Discuss the differences in utilitarianism and virtue...

Question 7

From where do ethical preferences originate?

Accepted Answer

The answer of From where do ethical preferences originate?...

Question 8

Which of the following statements regarding Benefit Corporations is true?
A) Benefit corporations are required to identify one or more specific benefit purposes.
B) Directors of benefit corporations are protected from all lawsuits from both shareholders and beneficiaries of the corporation's public benefit purpose.
C) Benefit corporations are incorporated under state law with the intent to be profitable.
D) All of these statements regarding benefit corporations are true.

Accepted Answer

Benefit corporations are incorporated under state law with the intent to be profitable while also pursuing a public benefit purpose.

Question 9

Explain why laws exist that do not impose a duty to rescue.

Accepted Answer

The answer of Explain why laws exist that do not...

Question 10

Corporate director or officer decisions to dedicate corporate funds for social causes is called:
A) Corporate Social Responsibility (CSR)
B) Social Activism (SA)
C) Business Engagement in Environmental Situations (BEES)
D) Strategic Investment in Stakeholder Issues (SISI)

Accepted Answer

Corporate Social Responsibility (CSR) refers to a company's commitment to operate in an economically, socially and environmentally sustainable manner while balancing the interests of diverse stakeholders. Dedication of corporate funds for social causes is a key aspect of CSR. Options B, C, and D do not accurately describe this concept.

Question 11

Choose the statement regarding duty to rescue that is false:
A) There is no general duty to rescue an individual.
B) Individual freedom of dictates that a person should not be forced to act.
C) Under a liberal-communitarian approach, citizens owe a duty to the state to rescue other citizens.
D) When one taunts another person who then puts themselves in danger in response to the teasing, the teaser has a duty to rescue the person teased.

Accepted Answer

This statement is false. There is no legal duty to rescue in a situation where one person taunts another person into danger. While the teaser may have acted immorally, they are not legally obligated to rescue the person they taunted.

Question 12

According to Citizens United v. Federal Election Commission, which of the following is not a reason to allow corporations the right to spend money and advertise for political candidates?
A) Political speech is the most important, and most protected, speech that exists. It is crucial to the democratic process that political speech be encouraged and heard.
B) The immense wealth of a corporation allows it to be the most accurate in providing messages to people.
C) Independent expenditure by corporations do not give rise to corruption or the appearance of corruption.
D) Rapid changes in technology suggest laws restricting political speech should not be upheld.

Accepted Answer

While the Citizens United case does argue that political speech is important and protected, and that technology suggests laws restricting political speech should not be upheld, it also suggests that allowing corporations to spend unlimited funds on political advertising will not lead to corruption or the appearance of corruption. However, it does not argue that the immense wealth of a corporation allows it to be the most accurate in providing messages to people. Therefore, choice B is not a reason provided by the case for allowing corporations to spend money and advertise for political candidates.

Question 13

Select the best definition of ethics:
A) a set of rules for behavior.
B) a menu of options regarding what we must do.
C) a menu of options regarding what we should do.
D) standards that must be met to avoid penalty.

Accepted Answer

Ethics refers to a set of moral principles that guide our behavior and decision-making. It is not simply a set of rules or standards that must be met to avoid punishment, but rather a set of values and principles that guide us in deciding what we should do. Therefore, option C is the best definition of ethics.

Question 14

According to deontological thinker Kant:
I. It is only acceptable to lie when done to protect an innocent person.
II. The level of respect owed to another is based on one's relationship to that person.
III. It is wrong to use another person unless mutual benefit is attached.
IV. Once chosen, actions will be repeated whenever the same situation arises.
A) I and III
B) II and IV
C) III and IV
D) I, III, and IV

Accepted Answer

Kantian ethics emphasizes the categorical imperative, which includes treating others as ends in themselves, not merely as means (III), and the idea that moral actions should be universalizable, implying consistency in actions (IV).

Question 15

The Ethic of Care is:
A) A set of rules that explain how to prioritize those people affected by a decision so that a utilitarian analysis can be done successfully.
B) A set of universal principles, which applied evenly to all decisions will result in fairness and equity in ethical decisions.
C) The idea that we should all make decisions under the assumption that we don't know our station in life, that we could be the person most negatively impacted by the decision.
D) A set of principles that encourage decision makers to look at human relationships as a primary motivator for a decision.

Accepted Answer

The Ethic of Care is a set of principles that encourage decision makers to look at human relationships as a primary motivator for a decision. It focuses on the quality of relationships and encourages consideration of how decisions will impact the well-being of those involved in those relationships.

Question 16

Describe the difference between the law and ethics.

Accepted Answer

The answer of Describe the difference between the law and...

Question 17

Which of the following views would be consistent with the free market ethics approach advocated by Milton Friedman?
A) Outsourcing to other countries is wrong because it is detrimental to the overall US economy.
B) When making decisions, corporate managers should consider the interests of all the corporation's stakeholders.
C) The only social responsibility of business is to increase profits in a legal and ethical manner.
D) Automating processes and replacing workers is unethical since it does not serve a greater good.

Accepted Answer

Milton Friedman was a proponent of the free market ethics approach, which holds that the only responsibility of businesses is to increase profits within legal and ethical boundaries. Therefore, option C is consistent with this viewpoint. Options A, B, and D suggest consideration of factors beyond pure financial gain, which would contradict the free market ethics approach.

Question 18

Describe the philosophy of noted economist, Milton Friedman, on the issue of "free market ethics."

Accepted Answer

The answer of Describe the philosophy of noted economist, Milton...

Question 19

Assuming a business ethical dilemma, which statement best illustrates Gilligan approach suggested in her theory of "The Ethics of Care"?
A) individual rights and justice for all
B) applies only to women and not men
C) care and responsibility to others
D) obedience to independent moral rules or duties

Accepted Answer

Gilligan's theory of "The Ethics of Care" emphasizes the importance of care and responsibility to others in ethical decision making, particularly in situations that involve relationships and interdependence. This contrasts with an approach focused solely on individual rights and justice (option A), obedience to independent moral rules (option D), or a gender-specific perspective (option B).

Question 20

Which of the following statements is INCORRECT regarding the rights of shareholders?
I. voting power on major issues and ownership in a portion of the company
II. right to transfer ownership and dividend entitlement
III. hire and fire management and select and appoint a chief executive
A) I and II
B) I, II, and III
C) I only
D) III only

Accepted Answer

Shareholders do not have the right to hire and fire management or select and appoint a chief executive. These decisions are typically made by the company's board of directors. Shareholders do have voting power on major issues and ownership in a portion of the company, as well as the right to transfer ownership and dividend entitlement. Therefore, statement III is incorrect.

Quiz 1: Law, Ethics, Business: An Introduction

Laws must be static and unyielding in order to provide stability for a society.

Discuss how multinational corporations can be both a benefit and a detriment to society.

Virtue ethics:

All of the following are considered exceptions to the general rule that there is no duty to rescue except:

Discuss the differences in utilitarianism and virtue ethics in making a decision.

From where do ethical preferences originate?

Which of the following statements regarding Benefit Corporations is true?

Explain why laws exist that do not impose a duty to rescue.

Corporate director or officer decisions to dedicate corporate funds for social causes is called:

Choose the statement regarding duty to rescue that is false:

According to Citizens United v. Federal Election Commission, which of the following is not a reason to allow corporations the right to spend money and advertise for political candidates?

Select the best definition of ethics:

The Ethic of Care is:

Describe the difference between the law and ethics.

Which of the following views would be consistent with the free market ethics approach advocated by Milton Friedman?

Describe the philosophy of noted economist, Milton Friedman, on the issue of "free market ethics."

Assuming a business ethical dilemma, which statement best illustrates Gilligan approach suggested in her theory of "The Ethics of Care"?

Which of the following statements is INCORRECT regarding the rights of shareholders? I. voting power on major issues and ownership in a portion of the company II. right to transfer ownership and dividend entitlement III. hire and fire management and select and appoint a chief executive