An Ethical Issue Is

question 137

Multiple Choice

An ethical issue is

• A)likely to arise when an employee's moral philosophy is consistent with the organization's expectations of the employee's behavior.
• B)an identifiable problem, situation, or opportunity requiring an individual to choose from among several actions that must be evaluated as right or wrong.
• C)most often found in personal selling situations.
• D)easily resolved by consulting written laws and regulations.
• E)characterized by a blatant disregard for human rights and equality.

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Definitions:

Imperfect Competition

A market structure characterized by the imperfect (less than perfect) competition among the participating players, leading to companies having some control over prices.

Purely Competitive

A market structure characterized by many buyers and sellers, where each participant is a price-taker, with goods being homogeneous.

Price-Output Decisions

Determinations made by companies regarding the price levels and quantity of goods or services to produce, based on factors like cost, demand, and competition.

Oligopoly

A market structure characterized by a small number of firms dominating the market, leading to limited competition.