Business Ethics & Social Responsibility

What does "ethics" refer to?

• Rules for making money

• Beliefs about what is right and wrong

• The laws of a country

• Ways to run a business

Which of these is a stakeholder of a business?

• Competitors

• Customers

• Countries

• Buildings

Which group do businesses have a responsibility toward?

• Animals

• Foreign countries

• Employees

• Machines

What is consumerism?

• Helping businesses sell products

• Laws about business profits

• Protecting consumer rights

• Selling to more customers

What does “price gouging” mean?

• Reducing the price of products

• Raising prices too high during a demand

• Selling at a low price

• Keeping prices stable

What does “unethical behavior” mean?

• Helping society

• Doing the right thing

• Doing something wrong or unfair

• Making a donation

What does “collusion” refer to in business?

• Competing fairly

• Reducing prices

• Secret cooperation to raise prices unfairly

• Promoting products

What is the goal of social responsibility?

• To make more money

• To increase competition

• To care for society and the environment

• To hire more workers

What is a responsibility businesses have toward their employees?

• Providing fair wages and benefits

• Overworking them

• Ignoring their rights

• Cutting their wages

What does the "defensive stance" toward social responsibility mean?

• Doing nothing at all

• Meeting only the legal minimum requirements

• Going beyond what is required by law

• Actively seeking ways to help society