Ethics May Be Defined as a Field of Inquiry into Determining

question 71

True/False

Ethics may be defined as a field of inquiry into determining what behaviors are deemed appropriate under certain circumstances as prescribed by codes of behavior that are set by the government.

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Definitions:

Demand Increases

A situation wherein there is a rise in the quantity of a product or service sought after by consumers at a given price level.

Equilibrium Price

The price level at which the amount of products available for sale matches the amount consumers want to buy.

Equilibrium Quantity

The quantity of goods or services supplied that is exactly equal to the quantity demanded at the market equilibrium price.

Supply Increases

A situation where the quantity of a good or service that producers are willing to sell at a certain price rises.