Ethics Are

question 46

Multiple Choice

Ethics are

• A) needed in the professions, but is not needed for society in general.
• B) a set of moral principles or values.
• C) not formed by life experiences.
• D) always incorporated in laws.

Discuss how interest groups are considered public, ideological, or economic based on their goals.

Identify the constitutional protections that facilitate the activities of interest groups.

Detail the reasons individuals join interest groups, including material, ideological, and solidary incentives.

Examine trends in unionization and the factors affecting these trends.

---

Definitions:

Long-run Average Total Cost

The total cost per unit of output when all factors of production are variable, and economies of scale have been achieved.

Average Total Cost Curve

A graphical representation showing how the total cost of production per unit of output changes with the level of output.

Long-run Equilibrium

occurs when all firms in a market or industry are producing at their most efficient level, with no incentive for entry or exit, and economic forces are balanced.

Total Revenue

The total amount of money a firm receives from selling its goods or services, calculated as the unit price multiplied by the quantity sold.