Questions of What Is Ethical Involve the Extent to Which

question 1

Multiple Choice

Questions of what is ethical involve the extent to which a company has

• A)a legal duty beyond those duties mandated by ethics.
• B)an ethical duty beyond those duties mandated by law.
• C)any duty beyond those mandated by both ethics and the law.
• D)any duty when it is uncertain whether a legal duty exists.

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Definitions:

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices over a given period of time.

Income Elasticity

A measurement of how the demand for a good or service changes in response to changes in consumers' income levels.

Recession

A period of economic decline across an economy lasting more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Demand

Refers to the desire and willingness of consumers to purchase goods and services at different prices.