If Managers Use Moral Imagination to Determine Ethical Alternatives, the Decisions

question 10

Multiple Choice

If managers use moral imagination to determine ethical alternatives, the decisions need to be good for:

• A)the individual.
• B)the firm.
• C)society.
• D)a and b only
• E)All of the above

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Definitions:

Autarky

is an economic system of self-sufficiency where an entity, typically a country, operates without importing or exporting goods.

Heckscher-Ohlin Model

An economic theory that proposes countries export what they can most efficiently and abundantly produce.

Comparative Advantage

The ability of an individual, company, or country to produce a good or service at a lower opportunity cost than its competitors.

Ricardian Model

An economic theory that focuses on comparative advantage, explaining how countries can gain from trade by specializing in producing goods at a lower opportunity cost.