Which of the Following Statements Accurately Distinguishes Between Laws and Ethics

question 8

Multiple Choice

Which of the following statements accurately distinguishes between laws and ethics?

• A)Laws reflect the beliefs of the majority, and ethics reflect the beliefs of smaller individual segments of society.
• B)Ethics deal with religious and moral beliefs, and laws deal with social, economic, and environmental behaviours.
• C)Ethics deal with internal (personal) issues, and laws deal with external (social) issues.
• D)Ethics deal with personal and moral principles while laws are society's values and are enforceable in the courts.

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Definitions:

Marginal Cost

The outlay for creating another unit of a product or service.

Economies of Scale

Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.

Output

The total amount of goods or services produced by a company, industry, or economy within a specific period.

Labor

The human effort, including physical and mental efforts, used in the production of goods and services.