How Is Absolutism Different from Ethical Relativism and Situational Ethics

question 22

Multiple Choice

How is absolutism different from ethical relativism and situational ethics?

• A) It applies utilitarianism.
• B) It holds that a cost-benefit analysis should be applied.
• C) It holds that whether an action is moral does not depend on the perspective of the person facing the ethical dilemma.
• D) It applies virtue ethics and concentrates on the accepted values of the person at issue as well as those of the community involved.
• E) It applies corporate ethics principles.

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Definitions:

Transaction Costs

Expenses incurred during the process of buying or selling goods and services that are not directly related to their price.

Negative Externality

A cost that is suffered by a third party as a result of an economic transaction.

Externalities

Occurs when the consumption or production of a good affects someone who does not directly consume or produce that good, which can be either positive or negative.

Costs

Expenses incurred in the production of goods or in the provision of services, including labor, materials, and overheads.