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In resolving an ethical conflict, which of the following would never be appropriate?
Law of Demand
An economic principle stating that as the price of a good or service increases, the demand for it decreases, and vice versa, all else being equal.
Perfectly Competitive Markets
Markets characterized by many buyers and sellers, homogenous products, freedom of entry and exit, and perfect information, where no single participant can influence the market price.
Law of Demand
The principle that, all else being equal, as the price of a good or service increases, consumer demand for the good or service will decrease, and vice versa.
Competitive Markets
Markets where multiple buyers and sellers have the liberty to engage in trade based on mutual agreements.
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