As a Salesperson for His Company, Anthony First Follows All

question 31

Multiple Choice

As a salesperson for his company, Anthony first follows all laws and regulations. But beyond that, he refrains from knowingly deceiving or misrepresenting others. This is an example of which of the three primary components of business ethics?

• A) competing fairly and honestly
• B) avoiding conflicts of interest
• C) free flow of information
• D) being transparent

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Definitions:

Deadweight Loss

The reduction of economic efficiency that happens when the free market does not achieve equilibrium for a particular good or service.

Tariff

A tax imposed by a government on goods and services imported from other countries to protect domestic industries from foreign competition.

Domestic Price

The price of goods or services within a country's borders, as opposed to international or export prices.

Tariff

A tax imposed by a government on imported or exported goods, often used to restrict trade, as they increase the price of imported or exported goods, making them less attractive to consumers.