Chapter 7

Question 1

Moral Philosophy

Answer 1

The specific principles or values people use to decide what is right and wrong

Question 2

Economic Freedom

Answer 2

A concept based on selfownership, the right to choose, voluntary excahnge, open markets, and clearly defined and enofreced property rights

Question 3

Economic value orientation

Answer 3

Assoicated with values quantified by monetary means; according to this theory, if an act produces more economic value for its effort, then it should be accpeted as ethical

Question 4

Idealism

Answer 4

A moral philosophy that places special value on ideas and ideals as products of the mind

Question 5

Realism

Answer 5

The view that an external world exists independent of our perceptions

Question 6

Monists

Answer 6

Believe only one thing is intrinsically good

Question 7

Hedonism

Answer 7

The idea that pleasure is the ultimate good, or the best moral end involves the greates balance of pleasure over pain

Question 8

Quantitative Hedonists

Answer 8

Those who believe more pleasure is better

Question 9

Qualitative hedonists

Answer 9

Those who believe it is possible to get too much of a good thing

Question 10

Pluralists

Answer 10

Often referred to as nonhedonists, take the opposite position that no one thing is intrinsically good

Question 11

Instrumentalists

Answer 11

reject the ideas that (1) ends can be separated from the means
that produce them and (2) ends, purposes, or outcomes are intrinsically good in and of
themselves

Customers for drug companies

Question 12

Goodness theories

Answer 12

typically focus on the end result of actions and the goodness or happiness created by them.

Question 13

Obligation theories

Answer 13

emphasize the means and motives by which actions are
justified and are divided into the categories of teleology and deontology

Question 14

Teleology

Answer 14

refers to moral philosophies in which an act is considered morally right or acceptable if it produces some desired result, such as
pleasure, knowledge, career growth, the realization of self-interest, utility, wealth, or even fame

Question 15

Consequentialism

Answer 15

Teleological philosophies that assess the moral worth of a behavior by looking at its consequences

Question 16

Egoism

Answer 16

defines right or acceptable behavior in terms of its consequences for the individual.

Question 17

Enlightened egoism

Answer 17

a long-range perspective and allow for the well-being of others although their own self-interest remains paramount.

Question 18

Utilitarianism

Answer 18

Seeks the greatest good for the greatest number of people

Question 19

Rule utilitarians

Answer 19

Argue that general rules should be followed to decide which action is best

Question 20

Act utilitarians

Answer 20

The rightness of each indiviudal action must be evaluated to determine whether it produces the greatest utility for the greatest number of people

Question 21

Denotology

Answer 21

focus on the rights of individuals and the intentions assoicated with a particular behavior rather than its consequences

Question 22

nonconsequentialism

Answer 22

Regard for certain behaviors as inherently right, and the determination of this rightness focuses on the individual actor, not on society

Question 23

Categorical imperative

Answer 23

if you feel comfortable allowing everyone in the world to see you commit an act and if your rationale for acting in a particular manner is suitable to become a universal principle guiding behavior, then committing that act is ethical.

Question 24

Rule deontologists

Answer 24

Conformity to general moral principles based on logic determines ethicalness

Question 25

Act deontologists

Answer 25

Hold that actions are the proper basis to judge morality or ethicalness

Question 26

Relativist perspective

Answer 26

Definitions of ethical behavior are derived subjectively from the expericnes of individuals and groups

Question 27

Descriptive relativism

Answer 27

Relates to observations of other cultures

Question 28

Meta-ethical relativism

Answer 28

Proposes that people naturally see situations from their perspectives, and there is no objective way of solving ethical disputes between different value systems and individuals

Question 29

Normative relativism

Answer 29

Assumption that one person’s opinion is as good as another’s

Question 30

Virtue ethics

Answer 30

argues that ethical behavior involves not only adhering to conventional moral standards but also considering what a mature person with a “good” moral character would deem appropriate in a given situation

Question 31

Justice

Answer 31

Fair treatment and due reward in accordance with ethical or legal standards, including the disposition to deal with perceived injustices of others

Question 32

Distributive Justice

Answer 32

Based on the evaluation of the other outcomes or results of a business relationship

Question 33

Procedural Justice

Answer 33

Considers the processes and activities that produce a particular outcome

Question 34

Interactional justice

Answer 34

Based on the relationships between organizational members, inlcuding the way employees and managment treat one another

Question 35

Kohlberg’s model of cognitivie moral development

Answer 35

Theory in which people make different decisions in similar ethical situations because they are in differnt moral development stages

Question 36

White collar crime

Answer 36

Crimes perpetrated every year by nonviolent business criminals
Embezzlement