Question 1

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

Accepted Answer

Traditionally,our society has tended to grant maximum leeway to individual freedom of choice.Requiring that people help one another in emergencies would infringe on that freedom by forcing people to act when they might choose not to.  Further,imposing a duty to rescue presupposes that there is agreement that rendering assistance is always the right thing to do,which in some cases,it is not.  It might also put the rescuer at risk of harm.

Question 2

Describe the difference between the law and ethics.​

Accepted Answer

Law provides for a set of rules for behavior.When these rules are broken,behavior is punishable.  On the other hand,ethics presents a menu of options,sometimes disconnected from laws.  Laws are "what a person must do," and ethics addresses "what a person should do."

Question 3

In the wake of Citizens United and other related court decisions,what type of nonprofit organization can raise unlimited funds from individuals and corporations and use those funds for political campaign ads,as long as it does not collaborate directly with official political campaigns?
A)Benefit Corporations
B)501(c)s
C)SuperPACs
D)Multinational corporations

Accepted Answer

SuperPACs (or "independent expenditure-only committees" under section 527 of the IRS code) can raise unlimited funds from individuals and corporations and use those funds for political campaign ads, as long as they do not coordinate with official political campaigns. Benefit Corporations are a type of for-profit corporation that has a social or environmental mission, but they are not allowed to engage in political campaigns. 501(c)s refer to nonprofit organizations with various tax-exempt statuses, but they are subject to restrictions on political activity. Multinational corporations are not a relevant choice in this context.

Question 4

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 the initiative taken by companies to conduct their business in an ethical and responsible manner, including dedicating funds for social causes. Social Activism (SA) refers to the actions taken by individuals or groups to bring about social or political change outside of corporate decision-making. Business Engagement in Environmental Situations (BEES) and Strategic Investment in Stakeholder Issues (SISI) do not accurately describe the decision to dedicate corporate funds for social causes.

Question 5

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

The Citizens United v. Federal Election Commission case did not specifically mention the wealth of corporations as a reason to allow them to spend money on political candidates. The main reasoning behind the decision was that political speech must be protected, even if it comes from corporations. The decision also argued that independent expenditures by corporations do not necessarily lead to corruption or the appearance of corruption, and that technology advancements require more lenient laws restricting political speech.

Question 6

Which of the following statements regarding Benefit Corporations is true?
A)Benefit corporations are not concerned with making profit for their shareholders.
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 intended to be profitable corporations that are also committed to achieving social and environmental goals. While they prioritize their public benefit purpose, they are still required to make a profit and operate in a financially sustainable manner. Option A is incorrect because benefit corporations are still profit-driven entities. Option B is also incorrect because directors of benefit corporations still have fiduciary duties and may still be subject to lawsuits if they fail to fulfill their duties.

Question 7

Which of the following statements are aligned with the perspective offered by 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. A person should take actions they expect to be repeated for the same reasons whenever the same situation arises, even if they wind up on the receiving end of such actions
A)I and III
B)II and IV
C)III and IV
D)I, III, and IV

Accepted Answer

Kantian deontology emphasizes the importance of universal moral laws and treating individuals as ends in themselves, not merely as means to an end. Statement III aligns with Kant's principle of not using others merely as means. Statement IV aligns with Kant's categorical imperative, which suggests acting according to maxims that one would will to become universal laws.

Question 8

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 advocated for the free market ethics approach, which holds that the only social responsibility of business is to increase profits in a legal and ethical manner. This aligns with option C, which states this exact view. The other options do not align with this approach, as they either prioritize certain stakeholders over profits or suggest that certain actions may be unethical despite their potential to increase profits.

Question 9

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 ethical of care is a set of principles that emphasizes the importance of human relationships in decision making. This approach encourages individuals to consider the impact of their decisions on the well-being of others, especially those in vulnerable or dependent positions. It recognizes that caring for others is a fundamental aspect of human existence and emphasizes the need for empathy, compassion, and responsiveness in ethical decision making.

Question 10

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

Accepted Answer

Ethics is not just about following set rules or avoiding penalties, but rather it involves considering what we should do, what is right or wrong, and making choices based on moral principles and values. Option C best captures this idea.

Question 11

Which of the following statements is INCORRECT regarding the rights of shareholders?
I. Shareholders have voting power on major issues and ownership in a portion of the company
II. Shareholders have the right to transfer ownership and are entitled to dividends
III. Shareholders have the right to 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

III is incorrect because shareholders do not have the direct right to hire and fire management or select and appoint a chief executive. These responsibilities typically fall to the company's board of directors, who are elected by the shareholders.

Question 12

Which of the following accurately explains differences between the free market ethical perspective and utilitarianism?
A)While both the free market ethical perspective and utilitarianism are both concerned with the well-being of shareholders, utilitarianism considers the well-being of shareholders along with other stakeholders.
B)The free market ethical perspective focuses on shareholder well-being, with utilitarianism does not consider the effects on shareholders.
C)Following the law is not required by the free market ethical perspective, but it is required by utilitarianism.
D)While the free market ethical perspective is concerned with making a profit, utilitarianism does not consider profit as a desirable outcome.

Accepted Answer

The free market ethical perspective focuses solely on the well-being of shareholders, while utilitarianism considers the well-being of all stakeholders, not just shareholders.

Question 13

Choose the statement regarding duty to rescue that is false:
A)There is no general duty to rescue an individual.
B)Individual freedom 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

The statement that one has a duty to rescue someone they previously taunted and caused to be in danger is false. There is no established duty to rescue in this situation, and it is not considered a justifiable basis for imposing such a duty.

Question 14

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 Friedman,on...

Question 15

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 16

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

Accepted Answer

Laws must be able to adapt and change with society's needs and values in order to remain effective and just. Static and unyielding laws can become outdated and harmful. The concept of "rule of law" refers to the idea that laws should be applied equally and impartially, providing stability through fairness and predictability, not rigidity.

Question 17

Which of the following statements best illustrates the view of "utilitarianism"?
A)From each according to his abilities, to each according to his needs.
B)Cultivating the habits of good character will naturally lead a person to their fullest potential.
C)An action is right when maximizing welfare and total well-being,
D)Individuals should pursue his or her own self-interest, even at the expense of others.

Accepted Answer

Utilitarianism is an ethical theory that holds that the best action is the one that maximizes overall happiness or pleasure (also referred to as "welfare" or "well-being"). This view seeks to maximize the overall good or benefit to society, and is not focused solely on the individual or their self-interest. Option A is an example of socialist principles, option B is more aligned with virtue ethics, and option D is an example of ethical egoism.

Question 18

Explain the potential negative effects of allowing corporations to contribute unlimited amounts of money to support political causes.​

Accepted Answer

The answer of Explain the potential negative effects of allowing...

Question 19

From where do ethical preferences originate?​

Accepted Answer

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

Question 20

Virtue ethics:​
A)focuses on what human beings are capable of being.
B)requires strict adherence to specific standards of behavior.
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 developing and cultivating moral character traits, rather than following strict rules or standards of behavior. It recognizes that individuals are capable of achieving moral excellence, but also acknowledges that this is a challenging and ongoing process that may never be fully realized. Virtue ethics also emphasizes the importance of individual responsibility and agency in shaping one's ethical beliefs and actions, challenging the idea that these are determined solely by childhood upbringing or cultural norms.

Quiz 1: Law, Ethics, Business: An Introduction

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

Describe the difference between the law and ethics.​

In the wake of Citizens United and other related court decisions,what type of nonprofit organization can raise unlimited funds from individuals and corporations and use those funds for political campaign ads,as long as it does not collaborate directly with official political campaigns?

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

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?

Which of the following statements regarding Benefit Corporations is true?

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

The Ethic of Care is:

Select the best definition of ethics:

Which of the following accurately explains differences between the free market ethical perspective and utilitarianism?

Choose the statement regarding duty to rescue that is false:

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

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

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

Which of the following statements best illustrates the view of "utilitarianism"?

Explain the potential negative effects of allowing corporations to contribute unlimited amounts of money to support political causes.​

From where do ethical preferences originate?​

Virtue ethics:​

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

Describe the difference between the law and ethics.

Explain the potential negative effects of allowing corporations to contribute unlimited amounts of money to support political causes.

From where do ethical preferences originate?

Virtue ethics: