There Has Been a Public Outcry About the Ethical Practices

question 134

Multiple Choice

There has been a public outcry about the ethical practices of businesspeople. Public opinion polls show that only 17 percent of U.S. adults rate the ethical standards of business executives as high or very high. If most business are thought to be acting within all relevant laws, this suggests that the businesspeople are perceived to be acting

• A)ethically but illegally.
• B)ethically and legally.
• C)unethically and illegally.
• D)unethically but legally.
• E)in a socially responsible manner.

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Definitions:

Economizing Problem

The choices necessitated because society’s economic wants for goods and services are unlimited but the resources available to satisfy these wants are limited (scarce).

Property Rights

Legal rights to possess, use, and dispose of assets including real estate, personal property, or intellectual property.

Mutually Agreeable Transactions

Exchanges between parties that both participants consider beneficial or satisfactory.

Laissez-faire

An economic principle advocating minimal governmental interference in the operation of markets and businesses.