When Making Ethical Decisions,the More Likely an Action Will Result

question 17

True/False

When making ethical decisions,the more likely an action will result in a harmful outcome,the less likely that marketers will recognize a problem as unethical.

Understand the distinction and application of System 1 and System 2 in decision-making processes.

Recognize various cognitive biases and their impact on economic behavior.

Comprehend the role of advertising and media in economic decisions.

Identify common errors in personal forecasting and planning due to cognitive biases.

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Definitions:

Cultural Imperialism

The practice of promoting and imposing a culture, usually that of a politically dominant nation, over a less powerful society.

Cultural Relativism

The principle that an individual's beliefs and activities should be understood by others in terms of that individual's own culture.

Cultural Leveling

The process where distinct cultures become more similar to each other, often due to globalization and international influences.

Cultural Diffusion

The conveyance of cultural practices and social norms from one group to another.