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What is meant by ethical business?

Answer and explanation

Correct answer: Conducting business with honesty and fairness

Ethical business means making decisions and conducting transactions honestly, fairly, responsibly, and with respect for laws and stakeholders. It includes truthful information, safe products, fair treatment, and avoidance of deception or exploitation. Misleading customers, ignoring safety for profit, and harming competitors through unfair methods violate ethical principles, even if they might offer a short-term advantage.

Related tags

HonestyFairnessBusiness EthicsSocial Responsibilities Of Business And Business EthicsBusiness StudiesClass 11 Mcq

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