EC-106
You decide not to take a certain action because you know it’s the wrong thing to do. You have made this decision based on your
Ethics
In ethical dilemmas, someone (or something) could be
hurt
Deals with legal issues in online transactions, including e-contracts, data privacy, and cybersecurity
E-Commerce law
Purpose of providing public schools
To provide public goods
Breach
Break or breach duty to another person
Understanding business ethics can be difficult since
many people aren’t sure how to behave ethically
Malcolm is facing an ethical dilemma, but instead of responding to it, he avoids it and pretends it doesn’t exist. The problem will most likely
get worse
Addresses financial distress and insolvency, allowing businesses to reorganize or obtain debt relief
Bankruptcy law
Purpose of providing aid to dependent children
To improve public welfare
Battery
The harmful or offensive touching of another
Which of the following is a true statement about business ethics and the law
The two are not the same thing, but they do overlap
When Tori considers taking something that doesn’t belong to her, which ethical principle could help her recognize that she’s facing an ethical dilemma?
Respect
Ensures that parties fulfill their obligations, fostering trust in business relationships
Contract law
Purpose of setting the prime interest rate
To stabilize the economy
Misdemeanor
A less serious crime that is usually punishable in a local jail for less than one year, or by fine or both
A financial advisor receives a bonus for selling a certain mutual fund. Her reason for taking this action, which some consider unethical, might be that the action
is acceptable within the industry.
If you’re considering doing something illegal to get ahead at work, which ethical principle could help you determine that you’re facing an ethical dilemma?
Rule of law
Highlights the importance of tax compliance, available deductions and tax planning strategies for businesses
Tax law
Purpose of setting minimum wages
To regulate workplace conditions
Vicarious Liability
A person is liable for the torts of another
Unethical business practices may lower a company’s stock prices because
investors prefer to invest in companies they perceive as ethical
Jasmine doesn’t think it’s a big deal to steal a few things from work. Which ethical principle would help her realize that the long-term repercussions of her actions could create an ethical dilemma?
Viability
Governs the rights and responsibilities of buyers and sellers; including warranties and delivery terms
Sales law
Purpose of providing dairy price supports
To protect specific businesses
Larceny
Occurs where the value of the property or goods is not more than one thousand dollars