Ethical Beliefs Change Over Time

question 67

Essay

Ethical beliefs change over time.Give an example of an ethical belief that may be changing in the culture in which you presently live, and explain whether existing laws are still appropriate for that behavior.

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Definitions:

Supply

The sum of a certain item or service that consumers can obtain.

Equilibrium Quantity

The quantity of goods or services supplied that is equal to the quantity demanded at the market price.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded, resulting in no surplus or shortage.

Supply Increases

A condition in which the quantity of goods and services offered by businesses rises, often leading to lower prices if demand remains constant.