Which of the Following Focuses on the Concept of Business

question 73

Multiple Choice

Which of the following focuses on the concept of business practices and what type of people these practices are creating?

• A)Virtue ethics
• B)Kantian ethics
• C)Utilitarian ethics
• D)Principle-based ethics

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Definitions:

Income Redistribution

The governmental policy or action of adjusting the distribution of income, usually through taxation and welfare programs, to achieve a fairer society.

Monopoly Sellers

Single sellers in a market with no close substitutes for the product or service they offer, giving them significant control over prices.

Allocative Inefficiency

A situation where resources are not optimally allocated according to consumer preferences, often leading to overproduction or underproduction of certain goods or services.

Monopolist

An entity that has exclusive control over the supply of a particular good or service, setting prices without facing competition.