A Decision Not to Sell Realistic-Looking Toy Guns Is an Example

question 17

True/False

A decision not to sell realistic-looking toy guns is an example of an ethical choice not mandated by law.

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Definitions:

Market System

A market-based economic system where decisions about investment, production, and the allocation of goods are driven by the dynamics of supply and demand, with goods and services' prices being freely determined.

Profits

The financial gain realized when the revenue generated from business activities exceeds the expenses, taxes, and costs associated with maintaining the business.

Demand

The willingness and ability of consumers to purchase goods or services at various prices at a given time.

Industry

A collection of businesses and companies that produce similar goods or offer similar services within an economic sector.