The Ethical Position That Requires Individuals to Impose and Enforce

question 10

Multiple Choice

The ethical position that requires individuals to impose and enforce rules fairly and impartially so there is an equitable distribution of benefits and costs is the:

• A)justice view.
• B)utilitarian view.
• C)rights view.
• D)management information system.
• E)intuitive approach.

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Definitions:

Asymmetric Information

A situation in which one party in a transaction has more or superior information compared to another.

Market Failures

Situations in which the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.

Government Intervention

Actions taken by a government to influence or regulate various activities within its economy.

Market Signals

Indicators or information that guide economic decisions by conveying important data about the conditions or trends within a market.