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Business Ethics

Description: This quiz will test your knowledge of Business Ethics, covering topics such as ethical decision-making, corporate social responsibility, and the role of ethics in the workplace.
Number of Questions: 15
Created by:
Tags: business ethics ethics corporate social responsibility ethical decision-making
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Which of the following is NOT a principle of ethical decision-making?

  1. Utilitarianism

  2. Deontology

  3. Virtue Ethics

  4. Consequentialism

Show answer
Correct Option: D
Explanation:

Consequentialism is a theory of ethics that judges the morality of an action based on its consequences, while the other options are all principles of ethical decision-making.

What is the primary goal of corporate social responsibility?

  1. To maximize profits

  2. To minimize costs

  3. To benefit society

  4. To comply with regulations

Show answer
Correct Option: C
Explanation:

The primary goal of corporate social responsibility is to benefit society, not to maximize profits, minimize costs, or comply with regulations.

Which of the following is NOT a type of ethical dilemma?

  1. Conflict of interest

  2. Whistleblower dilemma

  3. Moral hazard

  4. Agency problem

Show answer
Correct Option: D
Explanation:

The agency problem is a type of economic problem, not an ethical dilemma.

What is the role of ethics in the workplace?

  1. To create a positive work environment

  2. To increase productivity

  3. To reduce legal liability

  4. To build trust among employees

Show answer
Correct Option: A
Explanation:

The primary role of ethics in the workplace is to create a positive work environment, not to increase productivity, reduce legal liability, or build trust among employees.

Which of the following is an example of an ethical issue in business?

  1. Price fixing

  2. Bribery

  3. False advertising

  4. All of the above

Show answer
Correct Option: D
Explanation:

All of the options are examples of ethical issues in business.

What is the difference between ethics and law?

  1. Ethics are subjective, while laws are objective.

  2. Ethics are based on personal values, while laws are based on societal values.

  3. Ethics are voluntary, while laws are mandatory.

  4. All of the above

Show answer
Correct Option: D
Explanation:

All of the options are true.

Which of the following is NOT a benefit of ethical behavior in business?

  1. Increased profits

  2. Improved reputation

  3. Reduced legal liability

  4. Increased employee morale

Show answer
Correct Option: A
Explanation:

While ethical behavior can lead to increased profits, it is not a guaranteed benefit.

What is the role of government in regulating business ethics?

  1. To set ethical standards for businesses

  2. To enforce ethical standards through laws and regulations

  3. To provide incentives for businesses to behave ethically

  4. All of the above

Show answer
Correct Option: D
Explanation:

The government plays a role in regulating business ethics by setting ethical standards, enforcing those standards through laws and regulations, and providing incentives for businesses to behave ethically.

Which of the following is NOT a stakeholder in a business?

  1. Shareholders

  2. Employees

  3. Customers

  4. Suppliers

Show answer
Correct Option: D
Explanation:

Suppliers are not stakeholders in a business, as they do not have a direct financial interest in the company.

What is the difference between corporate social responsibility and sustainability?

  1. Corporate social responsibility is about a company's impact on society, while sustainability is about a company's impact on the environment.

  2. Corporate social responsibility is about a company's long-term success, while sustainability is about a company's short-term success.

  3. Corporate social responsibility is about a company's ethical obligations, while sustainability is about a company's legal obligations.

  4. None of the above

Show answer
Correct Option: A
Explanation:

Corporate social responsibility is about a company's impact on society, while sustainability is about a company's impact on the environment.

Which of the following is NOT a principle of sustainable development?

  1. Reduce, reuse, recycle

  2. Use renewable resources

  3. Protect biodiversity

  4. Increase economic growth

Show answer
Correct Option: D
Explanation:

Increase economic growth is not a principle of sustainable development, as it can lead to environmental degradation.

What is the role of ethics in marketing?

  1. To ensure that marketing campaigns are truthful and accurate

  2. To protect consumers from deceptive or misleading advertising

  3. To promote fair competition among businesses

  4. All of the above

Show answer
Correct Option: D
Explanation:

All of the options are true.

Which of the following is NOT an ethical issue in advertising?

  1. Deceptive advertising

  2. Bait-and-switch advertising

  3. Subliminal advertising

  4. Comparative advertising

Show answer
Correct Option: D
Explanation:

Comparative advertising is not an ethical issue in advertising, as it is a legitimate way to promote a product or service by comparing it to a competitor's product or service.

What is the difference between a code of ethics and a code of conduct?

  1. A code of ethics is a set of principles that guide a person's behavior, while a code of conduct is a set of rules that govern a person's actions.

  2. A code of ethics is voluntary, while a code of conduct is mandatory.

  3. A code of ethics is typically broader than a code of conduct.

  4. All of the above

Show answer
Correct Option: D
Explanation:

All of the options are true.

Which of the following is NOT a benefit of having a code of ethics in a business?

  1. It helps to create a positive work environment.

  2. It reduces the risk of legal liability.

  3. It improves the company's reputation.

  4. It increases employee morale.

Show answer
Correct Option: D
Explanation:

While a code of ethics can help to create a positive work environment, reduce the risk of legal liability, and improve the company's reputation, it is not guaranteed to increase employee morale.

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