What term refers to standards by which one should act based on values?

The term that refers to standards by which one should act based on values is ethics. Ethics encompasses the study of right and wrong behavior, examining the moral principles that guide individuals and groups in making decisions. It serves as a framework for evaluating actions and decisions in the context of what is considered morally acceptable or unacceptable.

Ethics is often influenced by various factors, including cultural, philosophical, and social contexts, and provides a systematic approach to understanding moral dilemmas. This makes it distinct and comprehensive in discussing how values translate into actions and behaviors.

While moral principles can be a subset of ethics, they define specific beliefs about what is right or wrong, making ethics broader in scope. Norms typically refer to informal understandings that govern the behavior of members within a group, while codes are often formalized sets of rules or guidelines that arise from ethical principles but do not encompass the full depth of ethics itself.