Ethics Can Be Defined As

question 11

Multiple Choice

Ethics can be defined as:

• A) actions that seek to improve behavior after an indiscretion
• B) moral principles that govern a person's or group's behaviors, practices, and decisions
• C) any action taken to improve behaviors and decision making abilities
• D) a term used to describe behaviors that have different meanings to different people

Explain the concept of prospect theory and its implications for individual decision-making.

Recognize the influence of framing, anchoring, and the endowment effect on economic decisions.

Understand mental accounting and its impact on spending and saving behaviors.

Explain the role of default options and status quo bias in decision-making processes.

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Definitions:

Cabinet

A body of high-ranking officials, typically consisting of the top leaders of the executive branch in a government, often headed by the President or Prime Minister, responsible for advising and administering government policies and decisions.

White House Staff

Employees of the Executive Office of the President of the United States, including senior advisors, assistants, and other support roles directly serving the President.

Chief Executive

The highest-ranking executive in a company or government, responsible for making major corporate or policy decisions.

Administrative State

A concept that describes a government in which the executive branch, through various agencies, plays a significant role in regulation and policy implementation beyond traditional law enforcement.