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Core Ethical Values, and Their Supporting Ethical Principles, Should Be

question 26

True/False

Core ethical values, and their supporting ethical principles, should be used as the basis for a business code of conduct.

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Definitions:

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.

Shortage

A situation in which demand for a good or service exceeds its supply in a market.

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