For Creating a Code of Ethics,the Institute of Business Ethics

question 58

Multiple Choice

For creating a code of ethics,the Institute of Business Ethics advises companies:

• A) not to pick a well-tested model.
• B) to put the code on the organization's website rather than sending it to all employees,suppliers,and others.
• C) to introduce practical examples of the code in all company internal (and external)training programs.
• D) not to try out the code first as no piloting is required.

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Definitions:

Law of Supply

The economic principle stating that as the price of a good increases, the quantity supplied of the good also increases, ceteris paribus.

Law of Demand

An economic principle stating that as the price of a good or service decreases, the quantity demanded increases, and vice versa, holding other factors constant.

Effective Price Floor

A government-imposed limit below which prices cannot legally fall, set above the equilibrium price, leading to potential surplus or excess supply.

Industry Firms

Companies or businesses that operate within a specific sector of the economy, producing goods or services related to that sector.