Substitute Products

question 62

Multiple Choice

Substitute products

• A)reduce the attractiveness and profitability of an industry.
• B)represent those items manufactured by direct rivals within an industry.
• C)are usually cheaper than the products they can replace.
• D)are always a serious threat to rivals in an industry.

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Definitions:

Ethical Dilemma

A situation where a person must choose between two or more morally correct actions that conflict.

Moral Principles

Fundamental beliefs or rules about right and wrong that guide an individual's behavior and decision-making.

Professional Ethics

The principles and standards that govern the behavior of individuals within a professional setting, ensuring integrity and ethical decision-making.

Confidentiality

The principle or practice of maintaining privacy and not disclosing information without proper authorization or consent.