Managers Who Want to Improve Ethical Behavior Should Take Actions

question 63

Multiple Choice

Managers who want to improve ethical behavior should take actions such as

• A) communicate the code of ethics in training programs.
• B) emphasize the code of ethics in performance appraisal systems.
• C) follow a code of ethical behavior themselves.
• D) communicate the code of ethics in policies and procedures.
• E) all of the above

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Definitions:

Ceteris Paribus

A Latin term meaning “other things constant” that is used when the effect of one change is being described, recognizing that if other things changed, they also could affect the result. Economists often describe the effects of one change, knowing that in the real world, other things might change and also exert an effect.

Consumer Surplus

The difference between the maximum price a consumer is willing to pay for a good and the actual market price they pay.

Marginal Benefit

The additional satisfaction or utility that a person receives from consuming one more unit of a good or service.

Total Utility

The overall level of satisfaction or fulfillment a consumer receives from consuming a specific quantity of a good or service.