It is the application of ethical principles and precepts to business situations. Business Ethics true Conscience false Ethics false Standard false Single It is one person’s standards of behavior and beliefs of what is acceptable or not, proper or improper. Business Ethics false Ethics  false Moral Principle true Moral Standard false Single Ethical conduct has repercussion. Who will be affected by these repercussions? Business owner false Business partner  false Other people false All of the above true Single The interaction and interplay of demand for and supply of goods and services over a very wide range of selections, characterizes the ________. Business false Economy true Ethics false Sale false Single This was made when the seller and the buyer arrive at a mutually acceptable price. Business plan  false Conversation  false Negotiation false Sale true Single It is a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something. Budget false Cash false Profit true Savings false Single Profits were made in the interaction of __________. Demand and Supply true Different currencies false Free samples false Sales false Single It is an ethical norm so pivotal in business. Charity  false Generosity  false Honesty true Humility false Single Which among the following is NOT usually an ethical precept in business? compliance with undertakings false keeping tabs on your competitors true loyalty to the company false obedience to lawful authority false Single As a business owner, you must state if the product requires prior approval of government regulatory authorities. This statement is _________. True true Not necessarily true false False false Sometimes true false Single