According to the School of Ethical Universalism

question 44

Multiple Choice

According to the school of ethical universalism:

• A) universal ethical principles set forth the traits and behaviors that are considered virtuous and that a good person is supposed to believe in and to display.As such,these norms put limits on what actions and behaviors fall inside the boundaries of what is right and which ones fall outside-such universal norms include honesty,respecting the rights of others,practicing the Golden Rule,and not acting in a manner that harms others or pillages the environment.
• B) all societies and countries are obligated to apply universally defined ethical principles of right and wrong as set forth in the Global Code of Ethical and Social Morality (which is subscribed to by 150 nations of the world).
• C) all societies and countries apply essentially the very same set of universally defined ethical principles of right and wrong in judging the ethical correctness of business behavior.
• D) it is only fair that the standards of what's ethical and what's unethical be applied universally to all businesses in all countries irrespective of local business traditions and local business norms.
• E) the standards of what constitutes ethical and unethical behavior in business situations are partly universal,but in the main are governed by local business norms.

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Definitions:

Binding Minimum Wage

A minimum wage rate that is set above the equilibrium wage in the labor market, causing potential unemployment by forcing employers to pay more than the market rate for labor.

Incomes

Earnings received by individuals or entities for their labor, investments, or participation in business activities, often measured on a regular basis like monthly or yearly.

Minimum-Wage Laws

Legislation that sets the lowest hourly wage rate that an employer can legally pay to workers, aiming to ensure a minimum standard of living for employees.

Surplus Of Labor

The situation where the supply of labor exceeds the demand for it, often leading to unemployment or underemployment.