Question 1 Question 2 1 pts Joe owns and operates an ice cream store. Non-organi

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Question 1 Question 2 1 pts Joe owns and operates an ice cream store. Non-organic ingredients are used to make the ice cream served in the store. His customers request he serve organic ice cream. Local, state, and federal laws do not require Joe's ice cream store to serve organic ice cream. Joe thinks the laws do not require him to serve organic ice cream, he ethically has no responsibility either LRP Holdings, Inc. (LRP) is a social media app startup company. Frank, the chief financial officer was assigned to obtain a loan to fund the programs. Frank went to a local bank and applied for a loan using stolen information from another individual. The loan was granted to Frank and LRP based off an individual's information who is not affiliated with LRP nor consented to be used in the loan application process. Is Joe's thought process as it relates to his business decision correct? Why is this practice unethical? No, because anything that is illegal is also unethical. Yes, because the law governs every aspect of life. No, because ethics applies to every field of life. Yes, because anything that is legal is also ethical. Because all parties must have access to pertinent information. Because the market requires everyone to further their own interests. Because no one may be permitted to profit too much. Because market economies require freedom of action. Question 4 1 pts Question 3 1 pts Sarah is a business consultant for IBM. IBM would like her apply economic reasoning to their business decision on whether to develop a new computer based product. Which of the following statements should Sarah apply? Under the utilitarianism theory, it attracts rules that Economic reasoning describes how we would reason if we could have whatever we wanted. utilitarians think are good rules ) would maximize goodness if everyone followed them Economic reasoning describes how we prioritize our desires Economic reasoning describes how we ought to reason. Economic reasoning describes how we reason when pursuing our goals. always benefit the most people everyone agrees with

Explanation / Answer

Question. 1

Answer is 'C'. Because ethics do apply to every field of life. And it's not just about legality. When one thinks about customers, ethics can't be compromised.

Question. 2

Answer is 'A'. Because it's unethical to not reveal the stolen information and stolen source. In any matter, especially those dealing with money, it's highly beneficial for everyone if transparency is maintained.

Question. 3

Answer is 'B'.Because utilitarianism says that an action is right if it conforms to a rule that leads to the greatest good.

Question. 4

Answer is 'B'. Economic reasoning describes how we prioritize our desires.

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