The Principles and Standards That Determine Acceptable Conduct in Business

question 48

Multiple Choice

The principles and standards that determine acceptable conduct in business organizations are referred to as:

• A)social responsibility.
• B)business strategies.
• C)business ethics.
• D)business stances.
• E)corporate citizenship.

Comprehend the additional features and riders that can be attached to life insurance policies.

Understand the procedure for claiming life insurance proceeds.

Know the importance and benefits of a "free look" period in life insurance.

Understand the financial evaluation of life insurance including cash value and net cost.

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Definitions:

Marginal Utility

The additional satisfaction or benefit (utility) that a consumer derives from purchasing one more unit of a good or service.

Marginal Utility

The additional satisfaction or utility received from consuming one more unit of a good or service.

Demand Schedule

A demand schedule is a table that lists the quantity of a good that consumers are willing to purchase at various prices.

Total Utility

The overall satisfaction or benefit a consumer receives from consuming a certain quantity of a good or service.