| a specialized study of the moral standards that apply to business policies, institutions, organizations, and behavior.
| consistency requirement
| the necessity of moral principles to be applied the same way to everyone in similar circumstances
| ethical relativism
| the theory that morality varies according to culture and/or time.
| the study of morality or the moral standards of a society or an individual.
| law of agency
| a law that specifies the duties of persons who agree to act on behalf of another party and who are authorized by agreement so to act.
| moral reasoning
| the reasoning process by which human behaviors, institutions, or policies are judged to be in or out accordance with moral standards.
| moral responsibility
| the idea that agents are culpable for acting or neglecting to act.
| moral standards
| norms about the kinds of actions believed to be morally right and wrong.
| the standards that an individual or a group has about what is right and wrong or good and evil (also, the subject that ethics investigates).
| nonmoral standards
| standards by which we judge what is right/ wrong or good/bad in a nonmoral way.
| prisoner’s dilemma
| a situation where two parties must choose whether to cooperate or not; both gain when both cooperate, while if only one cooperates the other gains even more, and if both do not cooperate both lose.
| There is no duty to increase happiness or maximize benefits unless you have voluntarily agreed to do so.
| the belief that benefits should be distributed according to the value of the contribution made by the individual to a group.
| the requirement that I must act such that the maxim of my action could be made universal law (or the requirement that in acting I always treat others as ends in themselves and never as a means to an end).
| compensatory justice
| Fairness when...
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