What is defined as a set of principles governing the conduct of an individual or group?

The correct answer is ethics, as this term specifically refers to the set of principles that guide the behavior of individuals or groups regarding what is considered right and wrong. Ethics encompasses the values that inform decisions and actions, influencing how individuals and organizations function in various contexts, such as business, society, and personal relationships.

While morality is often used interchangeably with ethics, it typically refers to an individual's own beliefs about what is right or wrong based on personal or cultural standards. In contrast, ethics tends to focus on the broader principles agreed upon within a community or profession.

Law, on the other hand, consists of formal rules and regulations established by a governing body to maintain order and protect individual rights within society. Regulations are specific rules created under the authority of law to guide how laws are implemented or enforced. Although both law and regulations can reflect ethical principles, they do not define the set of principles themselves in the way that ethics does. Thus, ethics is the most accurate term when referring to the conduct guidelines of individuals or groups.