It Is Important to Note That What Is Considered Unethical

question 123

Multiple Choice

It is important to note that what is considered unethical in one country may not be viewed similarly in another country. This is because

• A)cultural differences are extreme in Asia.
• B)North Americans have homogeneous values.
• C)Western culture encourages individuality while Eastern culture supports group behaviour.
• D)there are no global ethical standards.
• E)perspective is subjective.

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Definitions:

Natural Monopoly

A market condition where due to high fixed costs or unique resources, a single firm can supply a good or service to an entire market at a lower cost than what two or more firms could.

Monopolist

A single seller in a market, who has significant market power and can influence the price of goods or services.

Profits

The financial gain achieved when the revenue earned from business activities exceeds the expenses, costs, and taxes needed to sustain the activities.

Amtrak

The National Railroad Passenger Corporation, offering intercity passenger train service in the United States.