Question

Question- a) What is the distinction between law and ethics?

b) What are the norms used by the FTC that represent the minimum requirements essential to the ethical use of consumer information?

c) What are some ways for consumers to protect themselves from fraud? Your answer should include a definition of fraud and a specific Web site useful in protecting consumers.

Answer 1

Question- a)

Distinction between law and ethics

Meaning: Laws are systematic rules that governs the society and actions of its members as an individual whereas ethics guides individuals about basic human conduct as a branch of moral philosophy.

Objective: Law is created so as to provide protection to the citizens of the country and maintain social order and peace of the society where as ethics enable an individual to know what is right or wrong and how to act in a particular situation.

Nature and legal binding: Ethics are abstract in nature and do not have any legal binding whereas laws are expressed and published in writing with legal binding to hold it together.

Governance: Laws in any country are generally governed by the government and its legislature whereas ethics are governed by individuals and professional norms.

Violation: Violation of laws lead to punishment like imprisonment or fine whereas breach of ethics does not bring upon any punishment.

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