What is ethical business?
Answer and explanation
Correct answer: Doing business with honesty and fair behavior
Ethical business conducts activities honestly, fairly, transparently, and responsibly toward customers, employees, owners, society, and other stakeholders. It avoids deception, false claims, and concealment of important defects. Such conduct builds long-term trust, whereas cheating, misinformation, and hiding poor quality may produce short-term gains but are unethical.
Frequently asked questions
What is the correct answer to this question?
Doing business with honesty and fair behavior
Why is this the correct answer?
Ethical business conducts activities honestly, fairly, transparently, and responsibly toward customers, employees, owners, society, and other stakeholders. It avoids deception, false claims, and concealment of important defects. Such conduct builds long-term trust, whereas cheating, misinformation, and hiding poor quality may produce short-term gains but are unethical.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: Social Responsibilities of Business and Business Ethics. Topic: Business Ethics.
