Final Flashcards
(66 cards)
Ethics
Determining the right thing to do
Law
Societys codeificaiton of ethics
What are the models of ethics
- freedom make ur own decisions
-Welfare common good
-virtue what u know is right
Duty based ethics
following rules and existing laws, regardless of the outcome of the action. This approach is focused on the act itself, rather than the consequences.
a moral principle that states that one should only act in ways that they would be willing to have become a universal law.
categorical imperative
fairness and impartiality in decision-making processes, rather than the outcomes of those decisions.
Procedural Justice
considers the outcome of actions and focuses on the greatest good for the greatest number of people. This approach is focused on the consequences of actions, rather than the act itself.
Consequentialism
a type of consequentialism that emphasizes maximizing overall happiness or pleasure. It argues that the best action is the one that produces the greatest balance of good over bad for all affected parties.
Utilitarianism
focuses on fairness in the distribution of benefits and burdens among individuals or groups. It considers whether the outcomes of actions are fair and just, rather than the actions themselves.
Distributive justice
a method for evaluating the positive and negative impacts of an action, and weighing them to determine the best course of action.
Cost-benefit analysis
To conduct a cost-benefit analysis,
one must consider who will be affected by the action, how they will be affected, and the relative value or importance of the impacts.
he idea that what is considered ethical varies depending on culture and location. This means that what may be considered right or wrong in one place may not be the same in another.
Ethical relativism:
a situation in which a shared resource is overexploited because individuals acting in their own self-interest do not have an incentive to preserve it. This can lead to the depletion or destruction of the resource, to the detriment of all members of the group.
Tragedy of the commons:
To avoid the tragedy of the commons
it is necessary to establish rules and regulations to ensure that the shared resource is used sustainably and in the interests of the common good
the rights that consumers have to make informed decisions, be protected from harm, and have a level playing field with producers
Consumer rights
Consumerism
Consumers are empowered to make informed choices and that product be safe
Government passing laws to protect consumers
Leveling the playing field to prevent consumers form being victimized
- Caveat emptor
the principle that the buyer assumes the risk of any defects or problems with a product, unless there is a specific warranty or guarantee
Not so much anymore
laws that are passed to provide consumers with information, protect them from deceptive or unfair practices, ensure product safety, and level the playing field between consumers and producers
Consumer protection law
Informed decision-making:
the ability of consumers to make decisions based on accurate, complete, and relevant information
advertising that misrepresents or omits important information and is likely to mislead consumers
Deceptive advertising:
the idea that a representation or omission in advertising is considered material if it is likely to have an impact on consumers’ decisions
Materiality
the federal agency responsible for unfair or deceptive ads
FTC
Lanham Act
allows competitors sue
Defenses to negligence:
showing that the plaintiff was also negligent (comparative negligence), that the plaintiff assumed the risk of the injury (assumption of risk), or that the defendant did not owe the plaintiff a duty of care.
