a) Identify a difference between laws and ethical standards.

Laws refer to specific acts, whereas ethics is more of a feeling.

Laws are specific codes of conduct, whereas ethics deals with how behavior should generally conform to cultural ideals of right and wrong.

Law violations carry specific penalties, whereas ethics violations are not always punishable.

Laws are based on common knowledge, whereas ethics is a subject of study and contemplation.

b) Identify an accurate statement about ethics.

Businesses generally uphold the highest ethical standards.

Businesses usually have written guidelines on how to act when ethics are violated.

Ethics are often based on written guidelines.

Ethical guidelines are narrower in scope than moral guidelines.

c) The _____ is an ethical philosophy that holds that all decisions should be consistent, unbiased, and based on fact.

principle of individualism

principle of justice

principle of utilitarianism

principle of relativity