Ethics & Laws
Define ethics.
Moral or principles that govern a persons behavior and the way they act in an activity
What is a white-collar crime?
a nonviolent crime of deceit or concealment to obtain or avoid losing money or to gain a personal or business advantage
What does NAFTA stand for and what did it establish?
NAFTA stands for North American Free Trade Agreement, establishing a free trade zone in North America.
At which age can you be legally bound to contracts?
The majority age is 18
E-commerce is defined as the online exchange of ________ between firms and also between firms and their customers.
A. Goods
B. Services
C. Money
D. All of the above
D. All of the above
What age can you be charged as an adult?
17
Name a white-collar crime.
public corruption, health care fraud, mortgage fraud, securities fraud, and money laundering
What is illicit trade?
illicit trade is the production or distribution of a good or service that is considered illegal by a legislature.
What is the importance of contracts?
They are a legally binding agreement between two people, that helps both parties from possible legal issues and lawsuits.
Explain the difference between e-commerce and traditional business.
In a traditional business, consumers visit physical stores, interact with salespeople, and purchase in person. In e-commerce, consumers browse thousands of products or services on websites and make purchases online.
What is copyright/trademark infringement?
The unauthorized use of a trademark or service mark.
Define cybersercurity.
the practice of protecting systems, networks, and programs from digital attacks.
Define specialization.
Specialization is concentrating on and becoming an expert in a particular subject or skill.
What is negotiation?
A dialogue where two or more sides work together to reach an agreeable solution.
What can you do to protect yourself from being a victim of cybercrime?
Use anti-virus protection and always protect your identity.
What is the difference between a debtor and a creditor?
A debtor owes some money, while a creditor is the person to whom money is owed.
What is perjury
The offense of willfully telling an untruth in a court after having taken an oath or affirmation.
Do all cultures have the same customs for businesses? True or false.
False
Who are the people who lack contractual capacity?
Minors
Mentally Ill
Under the Influence (drugs or alcohol)
In business-to-consumers (B2C), a business sells to a business but delivers the product or service to an individual consumer. True or False.
False
Name the 5 sources of law.
Constitutional law, Criminal law, Common Law, Statutory Law, Civil Law
When are employees liable for business crime?
when they participate with the company and its management in illegal acts
Name an illicit trade that involves illegal substances.
drug trafficking
If an adult sells a car to a 15-year-old, then:
A) Either party may rescind the contract
B) The agreement is void and thus invalid at its making.
C) The 15-year-old may opt to disaffirm the contract
D) There is a valid contract without qualifications
C) The 15-year-old may opt to disaffirm the contract
Define web spoofing.
Where cyber criminals create a website that is identical to a brand’s web domain.