Ethical Formalists Maintain That

question 55

Multiple Choice

Ethical formalists maintain that:

• A) harm to an individual is allowable as long as it serves a greater good.
• B) values are situational and change based on circumstance.
• C) harm to individual rights is never justified by an increase in organizational or common good.
• D) the good of the many always supersedes the good of the few.
• E) right and wrong are unknowable.

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Definitions:

Nonlabor Resources

Inputs used in the production process that are not related to direct human labor, such as capital, land, and raw materials.

Wage Bill

the total amount of money paid by employers to their employees for work performed, typically within a specific period.

Wage Rate

The standard amount of compensation individuals receive in exchange for performing work or services, typically expressed per hour or year.

Profit-Maximizing Number

The output level at which a business achieves the highest possible profit, determined by analyzing costs and revenue functions.