Which Approach to Ethical Behavior Can Encourage Selfish Behavior When

question 82

Multiple Choice

Which approach to ethical behavior can encourage selfish behavior when a person defines a personal need or want as a "right"?

• A) utilitarian
• B) individual rights
• C) justice approach
• D) categorical imperative
• E) moral relativism

Understand the concept of standard deviation and its significance as a measure of dispersion that takes into account all data points.

Know that the standard deviation shares the same units as the original data set, reinforcing its direct relevance and applicability.

Comprehend the Empirical Rule and its implications for data within one, two, and three standard deviations from the mean in a normal distribution.

Differentiate between various measures of variability and their susceptibility to extreme values.

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Definitions:

Economic Profits

Profits exceeding the opportunity costs of inputs, indicating that resources are likely yielding the highest value use.

Differentiated Products

Goods or services that are distinguished from each other based on quality, features, or branding, making them non-identical from a consumer's perspective.

Elastic Demand

A situation where the demand for a product is sensitive to price changes, meaning small price changes lead to large changes in quantity demanded.

Barriers To Entry

Factors that prevent or hinder new competitors from easily entering an industry or area of business, often maintaining high levels of profit for those already established.