Economists Argue That Markets Serve the Interests of Society Primarily

question 34

Multiple Choice

Economists argue that markets serve the interests of society primarily because

• A)consumers are made better off (regardless of whether producers are made better off).
• B)producers are made better off (regardless of whether consumers are made better off).
• C)both consumers and producers are made better off.
• D)money is made available for government.

Understand the effect of core values on organizational practices and hiring decisions.

Note the role and challenges of small businesses and entrepreneurs in the economy.

Recognize the dynamic and fast-paced nature of managerial work and the necessity for flexibility, teamwork, and speed in achieving strategic and operational goals.

Understanding the balance between effectiveness and efficiency in management.

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Definitions:

Leader Behavior

Actions and conduct exhibited by leaders, influencing their effectiveness and the motivation, performance, and satisfaction of their followers.

National Culture

The shared values, beliefs, customs, behaviors, and artifacts that the members of a society use to cope with their world and with one another, transmitted from generation to generation within a particular country or region.

Ethical Programs

Initiatives and practices designed to ensure behavior in organizations adheres to established moral principles and standards of conduct.

Moral Intensity

The degree to which an issue demands the application of ethical principles, often influencing the moral decision-making process.