Business Law

Question 1

Morality

Answer 1

involves the values that govern a group’s ideas about right and wrong

Question 2

ethics

Answer 2

refers to the rules used to determine the difference between right and wrong

Question 3

greatest good

Answer 3

examines whether the action will cause the greatest good for the greatest number of people

Question 4

golden rule

Answer 4

do unto others as you would have them do unto you

Question 5

real world ethics

Answer 5

there are moral rules that most people know instinctively, without thinking

Question 6

justice

Answer 6

treating people fairly and equally

Question 7

law

Answer 7

a system of rules of conduct established by a country’s government to maintain stability and justice according to the values that are relevant to that country

Question 8

Why is the law necessary?

Answer 8

the law defines the legal rights and responsibilities of the people. The law is a way to enforce the rights and duties of everyone through the police, the courts, the legislature, and regulatory agencies.

Question 9

How do ethics and law affect each other?

Answer 9

Changes in ethical standards can help us make new laws, or get rid of old laws. Changes in the law can help people adjust their ideas on morality.