Business Law Chapter 3

"Primum non nocere" is Latin for:

Above all, do no harm

The ethical category of integrity and truthfulness is best expressed as maintaining one's values and principles:

Despite the consequences or costs

The field of business ethics recognizes that social values almost always yield to the profitability motive.

False

Civil disobedience is the remedy natural law proponents use to change positive law.

True

Ethical violations can cause lasting detriment to a company's ability to do business through impacts on the company's reputation.

True

Ethics is a philosophical concept that deals with values related to the nature of human conduct.

True

Moral relativists believe that ethical decisions will differ based on circumstances.

True

Moral standards based on positive law may allow businesses to conduct themselves unfairly so long as their actions are not illegal.

True

To Immanuel Kant, an action is ethical if it is fair and done for the right reasons.

True

Trust is a fundamental basis of the capitalist system that is central to the expectations of investors, customers, and other firm stakeholders.

True