The Circular-Flow Diagram Is a

question 105

Multiple Choice

The circular-flow diagram is a

• A)visual model of how the economy is organized.
• B)visual model of the relationships among money, prices, and businesses.
• C)model that shows the effects of government on the economy.
• D)mathematical model of how the economy works.

Appreciate the significance of individual and organizational factors, including opportunity, in the ethical decision-making process.

Understand the justification mechanisms used by individuals to rationalize unethical decisions and their psychological impact.

Analyze the relationship between core values, corporate culture, and ethical decision-making within firms.

Explore the impact of international and cultural differences on ethical decision-making and organizational ethics.

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Definitions:

Mandatory Injunction

A court order compelling a party to undertake a specific act, often issued to prevent irreversible harm.

Quantum Meruit

A legal principle that means "as much as he deserves," allowing a person to recover reasonable value of services provided when a contract for them is nonexistent or cannot be enforced.

Accounting

The systematic process of recording, analyzing, summarizing, and interpreting financial transactions and information.

Equitable Remedy

A judicial order enforcing a party to act or refrain from acting in a certain way, based on principles of fairness.