When Both the Demand for a Good Increases and the Supply

question 311

True/False

When both the demand for a good increases and the supply of the good increases, the equilibrium quantity definitely increases.

Discern the difference between legal and ethical considerations in business decisions.

Define business ethics beyond mere compliance with the law.

Grasp the role of ethics in global business practices.

Comprehend the WH process of ethical decision-making and its application.

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Definitions:

Issues Management

The proactive process of identifying, evaluating, and responding to potential issues or opportunities that could impact an organization, aiming to prevent them from escalating into crises.

Emerging Trends

New patterns or developments in behavior, technology, culture, or markets that have the potential to significantly impact society or industry.

Digital Factor

Elements or aspects related to digital technology that influence or determine outcomes in various contexts, such as business, communication, or consumer behavior.

Precrisis Stage

The phase prior to a crisis where signs and risks can be identified, allowing organizations to potentially prevent the crisis or reduce its impact through early intervention.