2. According to the dictionary, the term ethics has a variety of different meanings. One of its meanings
is: The principles of conduct governing an individual or a group.
3. Moral standards can be distinguished from non-moral standards us
2. Utilitarianism characterizes the moral approach taken by Ford in the infamous Pinto case
3. Few businesses maintain that the socially responsible course to take is the utilitarian one
with the lowest net costs.
14. The traditional, "rational" model of the business organization is defined it as a structure of
formal relationships, which are designed to achieve a goal efficiently.
15. A firm's organizational chart, identifying the formal and infor
2. Discrimination in employment involves three basic elements: it must be a decision not
based on individual merit, the decision must derive from racial or sexual prejudice, and
the decision must have a harmful impact on the interest of employees.
2. In a perfectly free competitive market, no buyer or seller has the power to significantly
affect the price of a good.
3. Which of the following are characteristics of a perfectly free economy?
a. There are numerous buyers and sellers,
15. According to Locke, the power of government should be:
a. Expanded to meet the needs of all citizens.
b. Expanded to meet the needs of corporations.
c. Limited, extending only far enough to protect basic rights of all citizens.
d. Limited, extending o
2. In the Market Approach to consumer protection, if consumers do not place a high value on
safety (or are unwilling to pay for it), then it is wrong to force them to accept higher levels
of safety through regulation.
3. Critics to the ma