Which term describes the principles of right and wrong in behavior?

The correct term that describes the principles of right and wrong in behavior is ethics. Ethics is a branch of philosophy that involves the systematic study of what is considered to be the right or wrong conduct, covering a broad range of human actions and the values that govern those actions. It serves as a framework for individuals and organizations to navigate complex moral dilemmas, ensuring that decisions are made within a context of fairness and responsibility.

In contrast, the other options focus on different aspects. Functionality pertains to how well something performs its intended purpose and does not inherently involve moral judgments. Economics refers to the study of production, consumption, and the allocation of resources, focusing more on financial and material transactions rather than ethical considerations. Moral standards are closely related to ethics but are more about specific beliefs or rules that individuals or cultures adhere to regarding right and wrong. While these terms are interconnected, ethics is the overarching concept that encapsulates both the systems of thought and the practical application of moral principles.