Term
| What is the standard view of the responsibility of the employees to the owners of a business |
|
Definition
| Agent must act on behalf of or FBO principal (fiduciary duty) |
|
|
Term
| what is the standard view of the realtion of managerial to nonmanagerial emp? |
|
Definition
| Master/servant relationship so nonmanagerial emp must be constantly supervised |
|
|
Term
| what does the fiduciary duty of agents to principals include under the common law tradition? |
|
Definition
| loyalty, trust, obedience, and confidentiality |
|
|
Term
| who are the gatekeepers in the FMM? |
|
Definition
| aka watchdogs: accountants, auditors, financial analysts, etc |
|
|
Term
| What is the cult of the shareholder? |
|
Definition
| where managers focus too narrowly on increasing value of short term stock |
|
|
Term
| What is Duska's view of loyalyty in the workplace? |
|
Definition
| no employees should ever feel loyalty to a business |
|
|
Term
| What is Dejardins view of Loyalty in the workplace? |
|
Definition
| Loyalty is due from high level management employees |
|
|
Term
| What is the view of contractual supererogation regarding loyalty in the workplace? |
|
Definition
| When acts of supererogation ensue, loyalty to workplace should be given. |
|
|
Term
| what is Carr's View of honesty in the workplace? |
|
Definition
| A business is a game where normal rules of honesty don't apply |
|
|
Term
| what is a whistle blower? |
|
Definition
| an employee or other agent of an institution or business who informs the public, news media, or govt agencies of what the infromer believes to be unethcial or illegal activity being done by the inst./bus |
|
|
Term
| what is the motive issue with whistle blowers? |
|
Definition
| we can stipulate that many or even most whistle blowers are motivated by desire to protect other and help achieve justice, yet still recognize that some may have unethical motives |
|
|
Term
| what is the ignorance problem with WB? |
|
Definition
| even a sincere WB may be ignorant of science or law |
|
|
Term
| What is the harmissue w/ WB? |
|
Definition
| bad PR and def itself against gov actions can greatly harm an institution |
|
|
Term
| What is the violation of privacy issue w/ WB? |
|
Definition
| WB are violating the privacy of owners, which they have often agreed by contract to respect |
|
|
Term
| According to DeGeorge, what conditions is WB permissible? |
|
Definition
| the biz pract presents a real threat of serious harm/the whistle blower should first try to work through internal channels/if possible the WB should exhaust those channels |
|
|
Term
| According to DeGeorge, under what con is WB obligatory? |
|
Definition
| 1-3 plus the whistle blower must have doucmented obj evidence that would convince reasonable ind people of the companys role in causing harm/the WB must have good reeason to thing that blowing the whistle will prevent harm |
|
|
Term
| Under the SV who in a company has a stong fiduciary duty to the principals? |
|
Definition
|
|
Term
| Under the SV, who in a company has only a weak fiduciary duty to the principals? |
|
Definition
|
|
Term
| What does the concept of buyers due diligence mean? |
|
Definition
| in a purchase, seller is only suppposed to respond to questions regarding material questions regarding their own product |
|
|
Term
| What does the concept of a reservation price in an exchange mean? |
|
Definition
| The price you are willing to pay/sell your product or service (unknown to the other party) |
|
|
Term
| What are the 4 P's of markerting(marketing broadly defined)? |
|
Definition
| product/ pricing/ promotion/ placement |
|
|
Term
| What does products refer to in marketing? |
|
Definition
|
|
Term
| what does promotion refer to in marketing? |
|
Definition
| how you make your audience aware of what you offer |
|
|
Term
| What does placement mean in marketing? |
|
Definition
| how you deliver your prouct/service |
|
|
Term
| What does prima facie mean? |
|
Definition
|
|
Term
| What was the main harmful side effect and beneficial side effect in Thalidomide? |
|
Definition
| harmful: caused birth defect among preg women beneficial: anti nausea and antiinflamatory |
|
|
Term
| Why is a voluntary exchange between autonomus individuals prima facie ethical from an egoist perspective? |
|
Definition
| each gets what they want or they wouldn't trade, so each gets best result |
|
|
Term
| Why is a voluntary exchange between autonomous ind prima facie ethical from a kantian pers? |
|
Definition
| such an exchange represents autonomy of ind |
|
|
Term
| Why is a voluntary exchange bet autonomous ind prima facie ethical from the natural rights pers? |
|
Definition
| such an exch if it hurts nobody else, flows from their rights |
|
|
Term
| Why is a voluntary exchange bet autonomous ind prima facie ethical from the virtue ethics pers? |
|
Definition
| a community of people freely exchanging what they value buids prudence, trust and peace |
|
|
Term
| Why is a voluntary exchange bet autonomous ind prima facie ethical from the util pers? |
|
Definition
| each gets what they want and if nobody else is hurt, net happiness increases |
|
|
Term
| What is the Easterlin paradox |
|
Definition
| As income rises so does happiness, to a point, then it will inventually plateau (Data was flawed) |
|
|
Term
|
Definition
| When you are able to consume so much that you can never be satisifed |
|
|
Term
| what is product liability? |
|
Definition
| that are of CL in which manufacturers and producers are liable for the products they create |
|
|
Term
| A liabiltiy claim in common law refers to what? |
|
Definition
| allegation that someone was hurt by some product |
|
|
Term
| a claim of liability in law involves what four points? |
|
Definition
| Duty, Breach, Tort, Cause |
|
|
Term
| what are the three types of negligence claims? |
|
Definition
| design, manufacturing, marketing |
|
|
Term
| What two areas of common law are most often used to pursue product liability cases? |
|
Definition
|
|
Term
| What was the strict contractarian view regarding liability? |
|
Definition
| Says seller is only liable for what is explicity covered in warranty |
|
|
Term
|
Definition
| contract between manufacturer and seller and consumer concerning a product |
|
|
Term
| What is the doctrine of implied warranty? |
|
Definition
| What cause harm outside of what rational person expects |
|
|
Term
| What is the implied warranty of merchantibility? |
|
Definition
| you wouldn't sell a product that wasn't safe |
|
|
Term
| What is the implied warranty of habitability? |
|
Definition
| you wouldn't buy a house if I didn't thin it was fit to live in |
|
|
Term
| What was the doctrine of privity? |
|
Definition
| consumers can only sue direct seller |
|
|
Term
| What is strict product liability? |
|
Definition
| can sue dist, manufucturers, sellter etc |
|
|
Term
| What is the trilemma argument for the doctrine of strict product liability? |
|
Definition
| burden will be on either consumer, company, or govt/society |
|
|
Term
| What is the jury accomodation arg for strict prod liability? |
|
Definition
| SPL accomodates commmon jury practice |
|
|
Term
| What is the carefulness argument for stric prod liability? |
|
Definition
| by adopting SPL it wil assume carefulness |
|
|
Term
| What is the primary obligation of the sell to the buyer? |
|
Definition
| that the seller not materially lie about the product/service to the buyer |
|
|
Term
| What is the revers fariness argument against stric prod liability? |
|
Definition
| reverses the point about fairness. If a manufacturer did nothing wrong, isnt it unfair to make it pay |
|
|
Term
| What is the cost argumetn against strict prod liability? |
|
Definition
| doesn't SPL if carried out fully lead to escalting costs, as well as deter innovation |
|
|
Term
| What is regulation broadly defined? |
|
Definition
| any legal mechanism designed to minimie harms caused by products |
|
|
Term
| What is regulation narrowly defined? |
|
Definition
|
|
Term
|
Definition
| it is when an entity seeks to make money by manipulating the economic environment rhather than by making a profit through trade and production of wealth |
|
|
Term
| What is the law of uninteded consequences? |
|
Definition
| whenever you create a law, it is the consequences you may not forsee |
|
|
Term
|
Definition
| sheer cost to economy of all bus complying to laws |
|
|
Term
| What is regulation generally inteded to do? |
|
Definition
|
|
Term
| What is regulatory capture? |
|
Definition
| if you craeate a regulatory body, who controls that agency? |
|
|
Term
| What is the static model of pricing? |
|
Definition
| at a given time, price is determined by demand/supply of it |
|
|
Term
| What is the dynamic model of pricing? |
|
Definition
| pricing is language, information is a transmission mech not moral |
|
|
Term
|
Definition
| producers collude to set prices above free market price |
|
|
Term
|
Definition
| by either business or govt action, one producer dominates a market completely |
|
|
Term
| What two sorts of monopoly are ethcial from a FM pers? |
|
Definition
| natural, and govt sanctioned |
|
|
Term
| What is convenience pricing? |
|
Definition
| price high, but seller gets it in a free market bc it allow for convenience of consumer |
|
|
Term
|
Definition
| shortage caused by emergency, which prevents consumers from going elsewhere |
|
|
Term
|
Definition
| predatory pricing, sell temp below cost to achieve monopoly |
|
|
Term
|
Definition
| sell one or two items below cost to entice customers in, but hope they buy other stuff at fulll price |
|
|
Term
| What was John Kenneth Galbraiths claim about the dep effect? |
|
Definition
| marketing actually creates an artificial demand |
|
|
Term
| What is the differenct between secured and unsecured loans? |
|
Definition
| secured loans are secured by an asset, but have a fixed interest rate |
|
|
Term
| What is the rational choice model? |
|
Definition
| assesing the cost benefit analysis of a choice in order to maximize benefits |
|
|
