Questions and Answers
What is defined as the process of seeing people as less human, leading to unethical treatment?
Which term refers to the act of justifying one's actions by comparing them to worse alternatives?
What does 'bait-and-switch' refer to in ethical terms?
What type of ethics emphasizes the inherent rightness or wrongness of actions, independent of consequences?
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What is moral awareness?
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Which of the following best describes horizontal price-fixing?
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What is 'displacement of responsibility' in an ethical context?
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What does disregard of the consequences mean?
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What is the purpose of moral justification?
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What does price discrimination involve?
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What does the term 'relativism' imply regarding ethical truths?
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Which of the following best describes predatory pricing?
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The Triple Bottom Line framework evaluates what three aspects of corporate responsibility?
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What does the Truth in Lending Act (TILA) aim to prevent?
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According to utilitarianism, the best course of action is one that does what?
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Vertical price-fixing involves which of the following?
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Study Notes
Ethics Vocabulary
- Advantageous Comparison: Justifying unethical conduct by comparing it to more extreme actions, diminishing personal accountability.
- Bait-and-Switch: A deceptive marketing tactic where customers are drawn in with false advertising for unavailable products, ultimately being sold different items.
- Corporate Social Responsibility (CSR): An organization’s duty to operate positively for stakeholders and society, enhancing environmental and social welfare.
- Dehumanization: A process that reduces individuals to lesser status, making unethical treatment of them seem acceptable.
- Displacement of Responsibility: Individuals deflect personal accountability by claiming they were merely following orders from authority figures.
- Disregard of Consequences: Ignoring or downplaying the potential negative outcomes of one’s actions, leading to unethical decisions.
- Ethics: The study of moral principles, exploring what constitutes good and bad behavior and how individuals should act.
- Euphemistic Labeling: Using mild or vague terms to present situations in a less objectionable way, often to mask their severity.
- Failure to Disclose Full Price: Advertising that omits additional fees or costs, leading to misleading information for consumers.
- Horizontal Price-Fixing: An illegal practice where competitors conspire to set product prices, distorting fair market competition.
- Idealism: Adopting systems of thought that prioritize spiritual values and high ideals over practical considerations.
- Kantianism: An ethical approach focused on the inherent rightness or wrongness of actions, independent of their outcomes.
- Law: A structured system regulating individual behavior, providing a framework for rights and responsibilities.
- Moral Awareness: The recognition of how one’s actions can impact others and conflict with ethical standards.
- Moral Disengagement: A psychological process where individuals believe ethical principles do not apply to their actions.
- Moral Judgment: The evaluation of actions as ethical or unethical based on personal or societal standards.
- Moral Justification: The rationale used by individuals to frame potentially unethical actions as acceptable or right.
- Predatory Pricing: Strategies set by firms to lower prices below average costs to eliminate competition in the market.
- Price Discrimination: Charging different prices to different consumers for the same product based on their willingness to pay.
- Price Gouging: A practice where sellers sharply increase prices during times of high demand or emergency situations.
- Relativism: The philosophical view that ethical truths are subjective, allowing for multiple valid ethical perspectives.
- Triple Bottom Line: A performance measure encompassing social, environmental, and financial responsibilities of organizations.
- Truth in Lending Act (TILA): Legislation aimed at promoting transparency in home mortgage lending by mandating complete disclosure of loan terms.
- Utilitarianism: An ethical theory advocating that actions are right if they promote overall happiness and minimize suffering, aiming for net benefits.
- Vertical Price-Fixing: An illegal practice where manufacturers control the retail price at which their products are sold, interfering with market dynamics.
- Virtue Ethics: A moral philosophy originating from Aristotle, focusing on developing good character traits through habitual practice of virtues like honesty, bravery, and justice.
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Description
Test your knowledge of essential ethical concepts with this quiz. Explore terms that define moral principles, deceptive practices, and social responsibilities in today's society. Enhance your understanding of ethics and its impact on behavior and accountability.
