In Constructing a Model,economists

question 168

Multiple Choice

In constructing a model,economists:

• A)might use a computer simulation.
• B)avoid making any assumptions.
• C)assume that all relevant factors are constantly changing.
• D)are prohibited from using mathematics.

Understand the consequences of unethical actions in professional settings.

Comprehend the process of making ethical choices in business.

Grasp the factors influencing individual values including family, culture, and personal experiences.

Understand strategies to prevent corporate crime and promote ethical behavior.

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Definitions:

Corporate System

A structure or framework that defines the practices, policies, and organizational arrangements of a corporation.

Consumer Needs

The essential requirements that consumers seek to fulfill with products or services, including functional, emotional, and social needs.

Cultural Form

Indicates the various expressions and manifestations of culture, including art, music, literature, and traditions, which embody the values and norms of a society.

Lifestyle

The interests, opinions, behaviors, and behavioral orientations of an individual, group, or culture.