Exam 1: Law, Ethics, Business: An Introduction

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

Virtue ethics:

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?

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.

Describe the difference between the law and ethics.

The Ethic of Care is:

From where do ethical preferences originate?

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

Discuss the similarities and differences between a traditional corporation and a benefit corporation.

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

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

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

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

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.

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.

Choose the statement regarding duty to rescue that is false:

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

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?