All Systems of Ethics Have a Central Authority and Follow

question 4

True/False

All systems of ethics have a central authority and follow clear-cut, universal standards.

---

Definitions:

Input Demand

Refers to the demand for production inputs (like labor and raw materials), driven by the demand for the outputs those inputs produce.

Competitive Price

A pricing strategy where the price is set based on what competitors are charging for similar products or services.

Market Price

The current price at which a good or service can be bought or sold in a marketplace.

Unionized Plumbers

Plumbers who are members of a labor union, which negotiates wage rates and working conditions on their behalf.