Which of the Following Is True of Business Ethics

question 40

Multiple Choice

Which of the following is true of business ethics?

• A) Certain notions such as fairness, honesty, and reciprocity are universal norms.
• B) Business ethics is an agreed-upon code of conduct in business, based on laws.
• C) The perception of what is ethical and what is not is similar across different cultures.
• D) Business ethics needs to be codified into law in order to be followed.

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Definitions:

Sherman Act

A United States antitrust law passed in 1890 that prohibits monopolistic practices and promotes competition.

Horizontal Restraint

A type of anti-competitive practice that occurs between businesses at the same level of the supply chain, such as agreements between competitors to fix prices or divide markets.

Market Extension Merger

A merger between companies in similar industries but different markets, aimed at expanding the market reach of products or services.

Federal Trade Commission

An independent agency of the United States government tasked with promoting consumer protection and eliminating and preventing anticompetitive business practices.