The World Seems to Be Moving Towards Transnational Ethics Because

question 28

Multiple Choice

The world seems to be moving towards transnational ethics because:

• A)Globalization dramatically increases contact among people from different ethical and cultural systems.
• B)This contact creates pressure for the development of new transnational agreements regarding business practices.
• C)International trade and trading blocs such as the EU and NAFTA are growing.
• D)All of these reasons.

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Definitions:

Long-Run Equilibrium

A state in which all firms in an industry are making normal profit and there is no incentive for market entry or exit.

Profit-Maximizing Price

The price point at which a business can sell its product or service to generate the maximum net profit.

Panel

A group of selected individuals gathered to discuss, debate, or provide advice on a particular topic or to evaluate submissions in contest or applications.

Long-Run Equilibrium

A state in which all factors of production and outputs are optimally allocated, and economic forces are balanced, leading to no further incentive for change.