The Ability to Recognize the Presence and Determine the Relative

question 116

Multiple Choice

The ability to recognize the presence and determine the relative importance of an ethical issue is known as:

• A)neuroticism.
• B)moral intensity.
• C)ethical sensitivity.
• D)utilitarianism.
• E)uncertainty avoidance.

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Definitions:

Competitive Equilibrium Price Ratio

The ratio of prices that ensures the equality of supply and demand in a competitive market, often used to observe relative price changes between commodities.

Utility Function

A mathematical representation expressing an individual's preference ordering over a set of goods or services, used in economics to model decision making under uncertainty.

Min

Often short for "minimum," it represents the smallest or least possible amount or degree of a certain quantity or measure.

Numeraire Good

A benchmark or standard commodity against which the relative price of all other goods and services is measured in an economy.