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When There Are No Clear Rules for Dealing with Specific

question 167

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When there are no clear rules for dealing with specific ethical problems,we tend to respond to each situation on an individual basis depending on our values at that time.


Definitions:

Income

The financial gain received by an individual or entity, typically measured per period, from work, investments, or business ventures.

Utility Function

A mathematical representation in economics that captures the level of satisfaction or happiness that consumers derive from consuming goods and services.

Price

The sum of money envisaged, obligatory, or handed over as compensation for something.

Income

The money received by a person or organization for work, investments, or from other sources.

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