The Moral Principles and Values That Govern the Actions and Decisions

question 135

Multiple Choice

The moral principles and values that govern the actions and decisions of an individual or group are referred to as

• A) social norms.
• B) cultural values.
• C) ethics.
• D) societal philosophy.
• E) religion.

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Definitions:

Changing Market Tastes

The evolution or shift in consumer preferences and desires, often influenced by cultural, social, or economic factors.

Bargaining Power

The capacity of one party to influence the agreement terms in negotiation scenarios due to their position or alternatives.

Attractive Industry

A sector of the economy that is appealing to investors and companies due to factors like high growth potential, profitability, and low barriers to entry.

Intense Competition

A market condition where there is a high level of rivalry among businesses, often leading to innovation and lower prices for consumers.