When the Price of Beef Rises,consumers Switch Consumption to Substitutes

question 64

True/False

When the price of beef rises,consumers switch consumption to substitutes such as chicken and fish,thereby decreasing the demand for beef.

---

Definitions:

Principle-Centred

An approach or philosophy that emphasizes the importance of adhering to a set of core values or principles to guide decision-making and actions.

Government Laws

Statutes and regulations established by the legislative bodies of governments to dictate behavior, enforce order, and provide a basis for justice.

Ethical Behaviour

Conduct that is in accordance with accepted principles of right and wrong governing the professional and personal actions of individuals.

Amoral Manager

A manager who fails to consider the ethics of her or his behaviour.