MAR 3023 UF Chapter 4 Exam Questions
And All Correct Answers.
ethics - Answer the moral principles and values that govern the actions and decisions of an individual
or group; serve as guidelines on how to act rightly and justly when faced with moral dilemmas
laws - Answer society's values and standards that are enforceable in the courts
culture - Answer refers to the set of values, ideas, and attitudes that are learned and shared among the
members of a group; serves as a socializing force that dictates what is morally right and just
caveat emptor - Answer the legal concept of "let the buyer beware" that was pervasive in american
business culture prior to the 1960s.
consumer bill of rights (1962) - Answer An outline presented by President John F. Kennedy in 1962 that
codified the ethics of exchange between buyers and sellers, including the rights to safety, to be informed,
to choose, and to be heard.
economic espionage - Answer the clandestine collection of trade secrets or proprietary information
about a company's competitors; this practice is illegal and unethical; most prevalent in high-technology
industries, such as electronics, specialty chemicals, industrial equipment, aerospace, and
pharmaceuticals
corruption - Answer involves unethical conduct by a person entrusted with a position of authority,
often to acquire a personal benefit; most common in business-to-business and govt marketing than in
consumer marketing the giving/receiving of bribes, kickbacks, and graft are the most common forms
code of ethics - Answer a formal statement of ethical principles and rules of conduct
whistle-blowers - Answer employees who report unethical or illegal actions of their employers
And All Correct Answers.
ethics - Answer the moral principles and values that govern the actions and decisions of an individual
or group; serve as guidelines on how to act rightly and justly when faced with moral dilemmas
laws - Answer society's values and standards that are enforceable in the courts
culture - Answer refers to the set of values, ideas, and attitudes that are learned and shared among the
members of a group; serves as a socializing force that dictates what is morally right and just
caveat emptor - Answer the legal concept of "let the buyer beware" that was pervasive in american
business culture prior to the 1960s.
consumer bill of rights (1962) - Answer An outline presented by President John F. Kennedy in 1962 that
codified the ethics of exchange between buyers and sellers, including the rights to safety, to be informed,
to choose, and to be heard.
economic espionage - Answer the clandestine collection of trade secrets or proprietary information
about a company's competitors; this practice is illegal and unethical; most prevalent in high-technology
industries, such as electronics, specialty chemicals, industrial equipment, aerospace, and
pharmaceuticals
corruption - Answer involves unethical conduct by a person entrusted with a position of authority,
often to acquire a personal benefit; most common in business-to-business and govt marketing than in
consumer marketing the giving/receiving of bribes, kickbacks, and graft are the most common forms
code of ethics - Answer a formal statement of ethical principles and rules of conduct
whistle-blowers - Answer employees who report unethical or illegal actions of their employers
