It Is Argued That Competitive Markets Provide a "Natural Remedy

question 348

Multiple Choice

It is argued that competitive markets provide a "natural remedy" to discriminatory wage practices. Which of the following is widely recognized as a potential limit to the potency of that natural remedy?

• A)Governments sometimes mandate discriminatory practices.
• B)Some employees have a lot of job experience; others have little job experience.
• C)In a discriminatory environment, a competitive firm that takes prices and wages as given has nothing to gain from any particular choice it makes regarding who to hire or which customers to serve.
• D)Not all firms exhibit social responsibility in sufficient measure to counter discriminatory wage practices.

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Definitions:

Ethical Practices

Actions and policies that conform to accepted professional standards of conduct, ensuring fairness, transparency, and integrity.

Linda Hasenfratz

A business leader known for her role as the CEO of Linamar Corporation, a global manufacturing company.

Global Leaders

refers to individuals who possess the ability to influence and guide others in a global context, across various cultures and countries.

Uncompromising Integrity

A steadfast adherence to a strict moral or ethical code, regardless of the circumstances or consequences.