Business Ethics Final Exam / Revised Questions and Answers / 2024

What does the 'E' stand for, in the 'New ROE'? - Ehtics The 3 important elements of a any system are... - its elements, interconnections, & the function/purpose. We looked at perspective puzzles in class the first day in order to illustrate that... - 1. our perspectives may be combined and better understood by thinking in systems 2. our understanding is improved when we recognize the background framework. 3. what we see may be shaped by what we focus on. Which of the following enlightenment thinkers is associated with the concept of the 'invisible hand' of laissez-faire capitalism? - Adam Smith According to David Boaz in 'Key Concepts of Libertarianism', free markets are essential because... - they are the best way to ensure that individuals are secure in their life, liberty, and property. Ed Freeman in Managing for Stakeholders believes that capitalism is... - a system of social cooperation and collaboration, rather than primarily a system of competition. According to the interview we watched with Martin Shkreli of Turing Pharmaceuticals, the dramatic increase in the price of the drug Daraprim... - 1. was necessary because the drug was underpriced. 2. was justified because his responsibility as CEO was to maximize profits. 3. was probably not dramatic enough; the price should have been increased further