Formalism Is Primarily a Duty-Based View of Ethics That Creates

question 26

True/False

Formalism is primarily a duty-based view of ethics that creates moral obligations that one must satisfy in order to be ethical.

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Definitions:

Standardized Good

a product that is produced to a set standard, making it interchangeable with similar products.

Economic Values

The worth of goods or services determined by the market, where price represents the quantity of resources people are willing to exchange for it.

Absolute Purchasing Power Parity

The economic theory that the price of a good should be the same in different countries when expressed in a common currency, accounting for exchange rates.

Trade Barriers

Measures implemented by a country to restrict or regulate international trade, including tariffs, quotas, and import bans.