Ethical Issues Arise When the Interests of the Stakeholders Are

question 41

True/False

Ethical issues arise when the interests of the stakeholders are in conflict and when one or more of the stakeholders are lacking in their responsibilities.

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Definitions:

Efficient

An attribute of a market or process where resources are allocated in the most effective way, yielding the maximum benefit for a given set of resources.

Competitive Equilibrium

Competitive Equilibrium is a state where supply equals demand, market resources are efficiently allocated, and no participant in the market can influence the price of goods or services.

Price Adjustment

The process by which prices of goods and services are altered to respond to changes in the market conditions.

Apples

A widely cultivated fruit that grows on apple trees, and is consumed worldwide for its sweet flavor.