To Promote Ethical Decision Making

question 55

Multiple Choice

To promote ethical decision making:

• A)consequences of unethical behavior should be left undefined to allow for flexibility.
• B)a statement of the organization's code of ethics should be communicated to each employee.
• C)violators of the code of ethics should be allowed several warnings before severe consequences are imposed.
• D)management should be excused from adhering to the organization's ethical code of conduct when it conflicts with personal values.

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Definitions:

Labor

The human effort, including both mental and physical activities, employed in the production of goods and services.

Machines

Mechanical or electronic devices designed to perform specific tasks, often used to enhance efficiency and productivity in manufacturing or processing.

Total Cost

The complete expenditure incurred for producing or offering a product or service, including fixed and variable costs.

Competitive Factor Markets

Refers to markets where factors of production (such as labor, capital) are bought and sold in a competitive environment, ensuring prices are influenced by supply and demand.