Analysis of the Differences Between Laws and Ethics

Analysis of the Differences Between Laws and Ethics Ethics refers to a set of rules or guiding principles that inform and govern people’s conduct in various situations and circumstances. For example, different professions have different codes of ethics that determine how they behave and act. Ethics influence behavior and decisions in various ways. In addition, it can be classified into different groups including personal ethics, professional ethics, and universal ethics that govern society.Advertising We will write a custom essay sample on Analysis of the Differences Between Laws and Ethics specifically for you for only $16.05 $11/page Learn More On the other hand, law refers to rules or codes of practice that are created and reinforced by an authority such as a government in order to bring order and cohesion. Law is compelling because failure to adhere to its precepts leads to punishment. Moreover, law is diverse because its implementation includes various forms including constitutions, policies, term s of service, and other forms of legal provisions. Law and ethics have several similarities. First, they influence human conduct and decisions in order to benefit individuals and society. People follow ethics because it represents principles and values that direct society. On the other hand, people follow law because it creates a common ground to unify people and create order among individuals in society. Second, they serve the main aim in society. They improve the moral status of individuals in society. Law enforces certain rules with a punishment threat if broken. Ethics relies on people’s rationality and sensibilities in order to influence people’s behaviors. They are both responsible for maintenance of order and social cohesion. Law and ethics have several differences. Law is compelling while ethics is not. Breaking law results in punishment while acting without regard to ethics does not have punishment. Acting ethically is a personal responsibility while obeying l aw is mandatory for everyone. Again, they influence people’s conduct in different ways. Ethics usually affects people’s behavior with regard to how they treat those who are close to them or those whom they interact with regularly. In contrast, law affects people’s behavior with regard to people whom they rarely interact with. Ethics is defined by the values, customs, or beliefs of a community or society. In contrast, law is defined by universally accepted standards and behaviors. Ethics is immune to societal or communal change while law is not immune to change. Ethics changes only when the morals, perceptions, and values of society change. On the contrary, law can be changed by an act of a governing body or a decision by lawmakers.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Ethics tells people what they ought to do and in what ways. For example, business peop le are expected to serve their customers with honesty and fairness. This concept does not apply to law because it tells people what they are not supposed to do and what they must do. It has prohibitions and mandates. Unlike ethics, it does not tell people what they should do and in what ways. Finally, ethics influences individuals internally while law influences people externally. While law is enforced, ethics is not. In conclusion, law and ethics are similar because they aim to promote order and cohesion in society. In addition, they influence behavior in ways that benefit individuals and society. On the other hand, they are different in several ways. Law is enforced while ethics is not. Law is easily changed while ethics is immune to changes. Changes depend on shifts in people’s moral values and cultures. Finally, law is binding because it tells people what they cannot do and what they must do. Ethics tells people what they ought to do. People are free to either adhere to e thics or not. On the contrary, it is mandatory to follow law.

The extent of oligopoly essays

The extent of oligopoly essays Oligopoly is a market structure dominated by a small number Of large firms, selling either identical or differentiated products, and there are significant barriers to entry into the industry. This is one of four basic market structures. The other three are perfect competition, monopoly, and monopolistic competition. Oligopoly being a general market structure category, dominates the modern economic landscape. About half of the output produced in the worlds economy can be traced to oligopolistic industries. Oligopolistic industries are as diverse as they are widespread. Oligopoly ranges from breakfast cereal to cars, from computers to aircrafts, from television broadcasting to pharmaceuticals, from petroleum to detergent. Because each firm in an oligopolistic industry is relatively large, each has a substantial degree of market control. It's not total control like in a situation of monopoly, but it's significantly greater than that of a monopolistically competitive firm. While monopolistic competition and oligopoly have distinct identifiable characteristics, they really form a continuum on the spectrum of market structures. Any boundary separating oligopoly from monopolistic competition is fuzzy at beast. An industry that's monopolistically competitive in a large city, for example, might be oligopolistic in a smaller town. A key feature of oligopoly is interdependence among firms in an industry. The actions of one firm depend on the actions of another. In both perfect competition and monopolistic competition the actions of one firm have no affect on other firms. Each firm is so small relative to the overall market, that firms are independent. And of course monopoly is the only firm in an industry, so interdependence is not a relevant issue. Oligopolistic interdependence creates a number of interesting economic issues. One is the tendency for competing oligopolistic firms to turn into cooperating oligopolistic firms. Whe...