In the Ethical Decision-Making Process, Identify the Step That Involves

question 74

Multiple Choice

In the ethical decision-making process, identify the step that involves predicting the likely, foreseeable, and the possible consequences to all the relevant stakeholders.

• A)Comparing and weighing the alternatives
• B)Making the decision
• C)Identifying the ethical issues
• D)Monitoring and learning from the outcomes

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Definitions:

Income Effect

The change in an individual's or economy's consumption patterns due to a change in real income, reflecting how increases or decreases in income can affect buying habits.

Substitution Effect

The alteration in purchasing behavior caused by variations in the relative costs of products, prompting buyers to opt for less expensive alternatives over pricier ones.

Price Change

An adjustment in the cost of a good or service in the market, which can be an increase or decrease due to various factors.

Income

The remuneration accrued, notably in a recurrent manner, from labor or the investment of resources.