Which of the Following Is NOT a Key Element of the Definition

question 31

Multiple Choice

Which of the following is NOT a key element of the definition of ethics?

• A)Reflective choice
• B)Moral principles
• C)Definitive conclusions
• D)Consequences of decisions

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Definitions:

Shortage

A situation where demand exceeds supply, resulting in insufficient availability of a product or service.

Permanent Shortage

A sustained situation where the demand for a good or service persistently exceeds its supply, often due to fixed or limited quantities.

Price System

Mechanism that allocates resources, goods, and services based on supply and demand.

Price Ceilings

Price ceilings are regulatory measures that set a maximum price that can be charged for certain goods or services, with the goal of ensuring affordability.