Tiffany & Co

question 83

Multiple Choice

Tiffany & Co.has a deep moral commitment to act responsibly in its sourcing of precious metals and gemstones.This is an example of ______ ethics.

• A)societal
• B)individual
• C)organizational
• D)occupational
• E)governmental

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Definitions:

Market Economy

An economic system where supply and demand from consumers drive the production of goods and services, with minimal government intervention.

Supply And Demand

Basic economic concept that describes the balance between the availability of a product or service and the desire (demand) for it.

Free Enterprise System

An economic system where private businesses operate in competition, largely free of state control, with limited government intervention.

Market System

An economic system in which decisions regarding investment, production, and distribution are guided by the price signals created by the forces of supply and demand.