Final answer:
Law is the correct answer; it is a set of enforceable rules governing a community or country. Morals and ethics are related but differ as they are not necessarily enforceable by law.
Step-by-step explanation:
The correct answer to the student's question is B. Law. Law is a system of rules that a particular country or community recognizes as regulating the actions of its members, which can be enforced by the imposition of penalties. This system includes various types of rules such as ethics, morals, values, religious beliefs, customs, and cultural rules that govern social life.
Laws and morality intertwine, where morals are the norms upheld within a society that define right and wrong behavior. Morals are often upheld by societal praise or condemnation rather than legal enforcement. Mores are a type of moral norm that has serious consequences upon violation, and the strongest mores are protected by law. Norms like folkways, on the other hand, dictate everyday etiquette and are less likely to carry heavy consequences. When considering ethics within a business context, a company will often establish a code of ethics to align its practices with societal values and legal requirements.