In an Eight-Hour Day,Andy Can Produce Either 24 Loaves of Bread

question 143

Multiple Choice

In an eight-hour day,Andy can produce either 24 loaves of bread or 8 pounds of butter.In an eight-hour day,John can produce either 8 loaves of bread or 8 pounds of butter.The opportunity cost of producing 1 pound of butter is

• A) 1/3 hour for Andy and 1 hour for John.
• B) 1 hour for Andy and 1 hour for John.
• C) 3 loaves of bread for Andy and 1 loaf of bread for John.
• D) 1/3 loaves of bread for Andy and 1 loaf of bread for John.
• E) none of the above

Discriminate between different stakeholders and their roles within corporate social responsibility.

Explain the concept and importance of ethical values in managerial decision-making.

Understand various ethical views (utilitarian, individualism, justice) and their application in business scenarios.

Differentiate between instrumental and terminal values and their relevance to business ethics.

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Definitions:

Bills Of Exchange

Documents that signify a written order directing one party to pay a determined sum to another by a specific date.

Promissory Notes

Written promises to pay a specified sum of money to a designated person at a fixed or determinable future time.

Defect Of Title

A legal issue with the deed of a property that makes its ownership status unclear, such as a lien or encumbrance.

Holder In Due Course

A party who has acquired a negotiable instrument legally and is protected against certain defenses set forth by the original parties.