Ethics Is About Making Good Decisions

question 10

Multiple Choice

Ethics is about making good decisions. Sometimes it is hard to see what economics has to do with ethics until you remember that economics is often defined as the:

• A) science of choice.
• B) key branch of theology.
• C) disciple with high moral standards.
• D) area that understands nothing about ethics.

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Definitions:

Externally-oriented

A focus or approach that prioritizes external factors, such as market trends and customer needs, over internal issues.

Mission

A statement or declaration of an organization's core purpose and focus that normally remains unchanged over time.

Cost Synergy

The reduction in total costs that can result from merging or joining two separate entities, processes, or systems, leading to improved efficiency or economies of scale.

Corporate Recycling

The processes and strategies implemented by companies to reuse materials and reduce waste, reflecting a commitment to environmental sustainability.