Which of the Following Is One of the Four Ethical

question 58

Multiple Choice

Which of the following is one of the four ethical principles of a successful company?

• A)Managers assume all responsibility for the actions of the company.
• B)It has a strong profit orientation.
• C)Customer, client, and vendor relationships emphasize mutual benefits.
• D)It does not produce products that can be used for violent purposes.
• E)Companies emphasize self-gained profits in their relationships with customers and vendors.

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Definitions:

Base Rate Fallacy

A cognitive error where individuals ignore general statistical information (base rates) in favor of specific anecdotal information.

Representativeness Heuristic

A mental shortcut used to make decisions or judgments by comparing information to our mental prototypes and stereotypes.

Anchoring and Adjustment Heuristic

A cognitive bias where an individual relies too heavily on an initial piece of information (anchor) when making decisions, with insufficient adjustments made thereafter.

Gambler's Fallacy

The erroneous belief that if something happens more frequently than normal during a given period, it will happen less frequently in the future, or vice versa.