Business Essentials Midterm - Review

When Mia considers taking something that belongs to someone else, which ethical principle could help her recognize that she is facing an ethical dilemma?

• accountability

• integrity

• transparency

• viability

Answer explanation

Accountability helps Tori recognize her responsibility for her actions. When considering taking something that belongs to someone else, she must reflect on the consequences and her duty to respect others' property, highlighting the ethical dilemma.

Which is a way to show transparency?

• Nora's company makes sure its employees are taken care of.

• Nora's company ensures that all its products are biodegradable.

• Nora's company listens to multiple opinions before making a decision.

• Nora's company is always upfront about the financial situation of the company.

Answer explanation

Listening to multiple opinions before making a decision demonstrates transparency, as it shows that the company values input and is open to different perspectives, fostering trust and accountability.

In a group project, Tayshaun consistently provides honest feedback and reports his progress truthfully. He is demonstrating:

• accountability.

• integrity.

• respect.

• viability.

Answer explanation

Tayshaun's consistent honesty reflects his integrity, which is the quality of being truthful and having strong moral principles. Accountability and respect are important, but they do not specifically capture the essence of acting with honesty.

Priya is not breaking any laws, but her behavior still is unethical. How is this possible?

• Because ethical means doing what is easiest.

• Because doing what is legal can also be considered unethical.

• Because doing what is easiest is sometimes what is considered unethical.

• Because the ethical thing to do is always what a group or majority is doing.

Answer explanation

Shayla's actions may be legal, but they can still violate ethical standards. This highlights that legality does not always equate to morality, making the correct choice: 'Because doing what is legal can also be considered unethical.'

Abigail is working on a group project and needs to decide on a course of action. Which question should she ask herself to determine whether she is facing a true ethical dilemma?

• Is there money at stake?

• Could someone be hurt by the actions?

• Does the action make me look good to others?

• Is my choice based on the most popular option?

Answer explanation

To determine if you're facing a true ethical dilemma, ask if someone could be hurt by your actions. This question focuses on the potential impact on others, which is central to ethical considerations.

Piper looks up to her new boss and tries to learn from her behavior as much as possible. However, Piper knows that some of her boss’s actions are unethical. Piper is uncertain whether she should follow her boss’s example. Which ethical dilemma is Piper facing?

• greed

• a bad role model

• pressure from others

• the desire to prove herself

Answer explanation

Piper is facing the ethical dilemma of having a bad role model. Although she admires her boss, the unethical actions she observes create a conflict between her desire to learn and her moral values.

In a classroom setting, Liam always says “please” and “thank you” to his classmates and teachers. He demonstrates:

• trust

• respect

• integrity

• rule of law

Answer explanation

Liam's consistent use of "please" and "thank you" shows he values others' feelings and acknowledges their efforts, which demonstrates respect. This behavior fosters positive interactions and reflects his consideration for others.

At her job, Jasmine thinks it is OK to take a few office supplies home. Which ethical principle would help her realize that the long-term repercussions of her actions could create an ethical dilemma?

• fairness

• growth

• trustworthiness

• viability

Answer explanation

The principle of fairness helps Jasmine understand that stealing, even in small amounts, is unfair to her colleagues and the organization. Recognizing this can lead her to see the long-term ethical dilemmas her actions may create.

Rohan and Avery are starting a new business and need to identify the economic resource where people work to produce goods or services. What is this resource?

• capital goods.

• human resources.

• natural resources.

• noneconomic goods.

Answer explanation

Human resources refer to the workforce that produces goods and services. Unlike capital goods (machinery) or natural resources (raw materials), human resources are essential for labor and creativity in production.

Rohan and Isla are studying a law passed by Congress in 1890 that prevents monopolies from forming and hinders price fixing. What law are they studying?

• Clayton Act

• Robinson-Patman Act

• Sherman Antitrust Act

• Celler-Kefauver Antimerger Act

Answer explanation

The Sherman Antitrust Act, passed in 1890, was the first federal legislation to prohibit monopolies and price fixing, making it the correct answer to the question.