What Two Issues Should Be Considered in Combination in Order

question 38

Essay

What two issues should be considered in combination in order to enhance the likelihood of ethical decision in the realm of product design?
Why is each important?

---

Definitions:

Producer Surplus

The gap between the minimum amount producers are willing to accept for providing a good or service and the actual amount they end up receiving.

Producer Surplus

The additional income a producer receives for selling a good or service above its production cost.

Tax

A tax is a compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization.

Consumer Surplus

The discrepancy between the amount consumers are prepared to spend on a product or service and the actual price they pay.