Business Studies

Set of standards of conduct and moral judgments that help to determine right and wrong behavior is called _____________.


ANSWER

ethics


SOLUTION
Ethics refers to well-founded standards of right and wrong that prescribe what humans ought to do, usually in terms of rights, obligations, benefits to society, fairness, or specific virtues.
Thus, ethics relates to the standards of conduct and moral judgements that differentiate right from wrong. Ethics is not a natural science but a creation of the human mind. For this reason, it is not absolute and is open to the influence of time, place and situation. 
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