Which of the Following Is True of Business Ethics

question 24

Multiple Choice

Which of the following is true of business ethics?

• A) Ethical standards are universal in nature.
• B) Supervisors should refrain from balancing between meeting an organizational goal and benefitting society at the same time.
• C) Business ethics is an insignificant issue unless one gets caught.
• D) Ethical behavior can improve an organization's relations with the community.

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Definitions:

Criminal Conspiracies

Agreements between two or more parties to commit an illegal act or a legal act in an illegal manner.

Duopolists

Refers to two companies or entities that dominate or control an entire market for a particular product or service, shaping prices, supply, and competition.

Monopolist

A monopolist is an entity or firm that has exclusive control over a market for a particular good or service, enabling it to adjust prices without direct competition.

Collude

To cooperate with others, often in secret and unlawfully, in order to deceive or gain an unfair advantage.