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You decide not to take a certain action because you know it’s the wrong thing to do. You have made this decision based on your

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ethics.

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A business’s ethics determine whether or not an action is acceptable for that business, especially if the action has a negative impact on others.

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has a negative impact on others.

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Which of the following is a true statement about business ethics and the law:

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The two are not the same thing, but they do overlap.

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One difference between business ethics and the law is that business ethics

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are often unwritten.

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Understanding business ethics can be difficult since

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many people aren’t sure how to behave ethically.

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Which of the following is a true statement about breaking the law: It is acceptable in most industries. It is necessary for business success. It will make a company more popular. It may have different consequences than breaching ethics.

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It may have different consequences than breaching ethics.

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Which of the following is one of the four pillars of a business’s social responsibility: Political responsibility, Economic responsibility, Media responsibility, Universal responsibility

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Economic responsibility

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A large tech company donates a portion of its proceeds to charity. This is an example of __________ responsibility.

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philanthropic

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Which of the following is an example of a business’s ethical obligation to its stakeholders:
- Sharing trade secrets within its industry
- Doubling investors’ money within two years
- Providing safe working environments for employees
- Allowing the competition to succeed

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Providing safe working environments for employees

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Why should a business practice good ethics?

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An ethical business contributes toward its own success.