Three Ethical Principles Provide a Framework to Help the Marketer

question 76

True/False

Three ethical principles provide a framework to help the marketer distinguish between right and wrong,determine what ought to be done,and properly justify his or her actions.One of those principles is called utilitarian ethics.

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Definitions:

Cyclical Unemployment

This refers to unemployment that occurs due to fluctuations in the economy, often increasing during a recession and decreasing during an economic expansion.

Unemployment Rate

The fraction of the working population that is not employed and is on the lookout for work.

Recovery

The phase of the business cycle in which economic activity picks up and the economy begins to grow after a recession.

Business Cycle

The fluctuations in economic activity that an economy experiences over a period of time, including periods of expansion and contraction.