BUSINESS LAW FBLA EXAM SCRIPT TESTED
QUESTIONS FULL SOLUTION PREMIUM
STUDY MATERIAL
●● Integrity
Answer: being honest and truthful in your actions; doing the right thing
in a reliable way.
●● Compassion
Answer: sympathy, mercy
●● Respect
Answer: Treating a person, feelings, or beliefs with consideration
●● Responsibility
Answer: Being accountable for your own actions and under specific
conditions also for actions performed by others
●● Citizenship
Answer: the position or status of being a citizen of a particular country.
●● Justice
,Answer: moral rightness; punishing wrongs using fairness.
●● Relationship of Law and Ethics
Answer: Ethics are a set of moral values a person establishes for
themself and their own personal behavior. Laws are structured rules
utilized to govern all of society.
●● Conflicts of Law and Ethics
Answer: Ethics and law sometimes conflict because laws can be
unethical and what is right may be against the law.
●● Local Government
Answer: the administration of the civic affairs of a city, town, or district
by its inhabitants rather than by the state or country at large
●● State Government
Answer: a unit of government that specifically makes and enforces laws
for a state; responsible for regulating trade within state borders and for
establishing regulations for local corporations.
●● Federal Government
Answer: a system of government that divides the power between a larger
central government, and the local and regional governments beneath it.
, ●● Statuary Law
Answer: written laws, usually enacted by a legislative body. Statutory
laws vary from regulatory or administrative laws that are passed by
executive agencies, and common law, or the law created by prior court
decisions. ... If the executive signs the bill it passes into law as a statute.
●● Affects of Laws on Individuals
Answer: Policies, laws and regulations have an influence on our daily
lives, from consumer protection to criminal justice, from corporate
behavior to intellectual property. High-level political and economic
decision-making can eventually affect the way we live our everyday
lives and vice versa.
●● Sources of Law
Answer: the origins of laws, the binding rules that enable any state to
govern its territory. Lawmaking powers are divided among three
branches of government: executive; legislative; and judicial. These three
branches of government, whether federal or state, create primary sources
of law.
●● Constitutional Rights
Answer: Unlike other legal rights, other laws cannot change your
constitutional rights. A legislative body cannot pass a new law that
changes rights found in a constitution. Only a constitutional amendment
can change the constitution.
QUESTIONS FULL SOLUTION PREMIUM
STUDY MATERIAL
●● Integrity
Answer: being honest and truthful in your actions; doing the right thing
in a reliable way.
●● Compassion
Answer: sympathy, mercy
●● Respect
Answer: Treating a person, feelings, or beliefs with consideration
●● Responsibility
Answer: Being accountable for your own actions and under specific
conditions also for actions performed by others
●● Citizenship
Answer: the position or status of being a citizen of a particular country.
●● Justice
,Answer: moral rightness; punishing wrongs using fairness.
●● Relationship of Law and Ethics
Answer: Ethics are a set of moral values a person establishes for
themself and their own personal behavior. Laws are structured rules
utilized to govern all of society.
●● Conflicts of Law and Ethics
Answer: Ethics and law sometimes conflict because laws can be
unethical and what is right may be against the law.
●● Local Government
Answer: the administration of the civic affairs of a city, town, or district
by its inhabitants rather than by the state or country at large
●● State Government
Answer: a unit of government that specifically makes and enforces laws
for a state; responsible for regulating trade within state borders and for
establishing regulations for local corporations.
●● Federal Government
Answer: a system of government that divides the power between a larger
central government, and the local and regional governments beneath it.
, ●● Statuary Law
Answer: written laws, usually enacted by a legislative body. Statutory
laws vary from regulatory or administrative laws that are passed by
executive agencies, and common law, or the law created by prior court
decisions. ... If the executive signs the bill it passes into law as a statute.
●● Affects of Laws on Individuals
Answer: Policies, laws and regulations have an influence on our daily
lives, from consumer protection to criminal justice, from corporate
behavior to intellectual property. High-level political and economic
decision-making can eventually affect the way we live our everyday
lives and vice versa.
●● Sources of Law
Answer: the origins of laws, the binding rules that enable any state to
govern its territory. Lawmaking powers are divided among three
branches of government: executive; legislative; and judicial. These three
branches of government, whether federal or state, create primary sources
of law.
●● Constitutional Rights
Answer: Unlike other legal rights, other laws cannot change your
constitutional rights. A legislative body cannot pass a new law that
changes rights found in a constitution. Only a constitutional amendment
can change the constitution.
