The Process for Ethical Decision Making Begins with

question 71

Multiple Choice

The process for ethical decision making begins with

• A)defining the complete moral problem.
• B)determining the legal requirements.
• C)understanding all moral standards and recognizing all moral impacts.
• D)proposing a moral solution.
• E)evaluating your suggested solution's success.

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Definitions:

Price Floor

A government- or authority-imposed minimum price that can be charged for a good or service, typically above the equilibrium market price to maintain a fair or sustainable market condition.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where the quantity supplied equals the quantity demanded.

Equilibrium Price

The price at which the quantity of goods demanded equals the quantity of goods supplied, leading to market balance.

Brings Together

Describes the act of gathering or assembling people, items, or ideas in one location or conceptual framework.