What does ethics refer to?

Ethics refers to a system of moral principles and conduct that guides individuals and organizations in determining what is right and wrong. This definition encompasses the values that shape behaviors and decision-making processes in various contexts, including business, education, and personal interactions. By adhering to ethical principles, businesses create trust and foster positive relationships with stakeholders, including employees, customers, and the community at large.

In contrast, other options like universal laws or technical compliance frameworks do not capture the essence of ethics. Universal laws imply a rigid and uniform application across all contexts, while economic principles focus solely on financial motivations, which do not inherently account for moral considerations. Therefore, the choice that defines ethics as a system of moral principles and conduct accurately reflects the core understanding of the concept.