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Introduction to Business Ethics

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Questions and Answers

What is the primary purpose of a business?

To generate profit for the individual

To engage in morally questionable activities

To provide goods and services to consumers (correct)

To create a complex web of interactions among institutions

What is the focus of the branch of philosophy known as ethics?

The examination of morality and concepts such as good and evil (correct)

The evaluation of economic systems and policies

The study of business and commerce

The analysis of human behavior in society

When did business activities emerge in human society?

With the emergence of trade and commerce

In the modern era of globalization

As old as human civilization (correct)

With the development of industrialization

Why did people start seeking the products and services of others?

To acquire goods and services that they could not produce themselves Signup and view all the answers

What was the key factor that enabled 'manufacturers' to continue supplying goods and services?

The presence of sufficient funds or goods to barter with Signup and view all the answers

What is the primary goal of a business?

To earn profit Signup and view all the answers

What is the consequence of a lack of ethics in business?

Justification of illegal activities Signup and view all the answers

What is the role of ethics in business?

To pave the way for common ground in understanding of right and wrong Signup and view all the answers

What is a common misconception about business ethics?

Ethics is a personal affair Signup and view all the answers

What is the benefit of ethics in business decision-making?

Preparation for resolving ethical dilemmas Signup and view all the answers