The Three Most Harmful Business Practices During the Industrial Revolution

question 35

Multiple Choice

The three most harmful business practices during the Industrial Revolution were monopolization, price gouging, and _____.

• A)environmental damage
• B)mass-production
• C)restrictive trade
• D)credit financing
• E)insurance fraud

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Definitions:

Unethical Behaviour

Actions that are dishonest, immoral, or violate moral principles and standards.

Profit Motive

The primary incentive for businesses to operate and expand, driven by the pursuit of financial gain.

Pareto Efficient

A state of allocation of resources from which it is impossible to reallocate so as to make any one individual or preference criterion better off without making at least one individual or preference criterion worse off.

Net Benefit

The total positive impact of a decision or action, subtracting any costs or negative effects associated with it.