Which of the Following Ethical Principles Indicates That the CHN

question 12

Multiple Choice

Which of the following ethical principles indicates that the CHN is ethically bound to do good within the limitations of time, place, and talent?

• A)Justice
• B)Beneficence
• C)Nonmaleficence
• D)Distributive justice

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Definitions:

Price Floor

A government- or authority-imposed minimum price that can be charged for a good or service, intended to prevent prices from falling too low.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers matches the quantity supplied by producers, resulting in no surplus or shortage.

Market Price

The actual selling price of a good or service in the market at which it can be bought or sold.

Surplus

The amount by which quantity supplied exceeds quantity demanded, often resulting in excess goods and a decrease in prices.