Which of the Following Industries Normally Has Relatively Low Business

question 49

Multiple Choice

Which of the following industries normally has relatively low business risk?

• A)Durable goods manufacturers, such as automobile manufacturers
• B)Firms that produce staple goods, such as grocery stores and utility companies
• C)Cyclical companies, such as construction companies
• D)Firms that engage in fairly risky research and development, such as pharmaceutical research companies.
• E)Small, single-product firms, especially those that sell primarily to a single customer

Recognize the significance of price elasticity of demand in pricing strategies.

Comprehend the concept of economic profit versus accounting profit.

Understand the optimization of resource allocation in a competitive market.

Discern the effects of speed and risk-taking on profit maximization for contract work.

---

Definitions:

Situational Ethics

Situational ethics is a moral theory suggesting that ethical decisions should be based on the specific context of a situation, rather than on fixed laws or norms.

Ethics Judges

Judges who specialize in resolving issues related to morality and conduct within the legal profession.

Actor's Perspective

A viewpoint focusing on the intentions, motivations, and actions of individuals in social or organizational contexts.

Moral Development

Refers to the process through which individuals develop proper attitudes and behaviors toward other people in society, based on social and cultural norms, rules, and laws.