The Moral Standards Expected by a Society Are Called

question 101

Multiple Choice

The moral standards expected by a society are called

• A)cultural values.
• B)religious principles.
• C)ethics.
• D)folkways.
• E)social norms.

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Definitions:

Target Return

Is a pricing strategy aimed at achieving a specific return on investment or sales volume goals.

Maximizing Profits

A profit strategy that relies primarily on economic theory. If a firm can accurately specify a mathematical model that captures all the factors required to explain and predict sales and profits, it should be able to identify the price at which its profits are maximized.

Price Levels

Refers to the average of current prices across the entire spectrum of goods and services produced in the economy, often measured over time to assess inflation or deflation.

Sales

The activities and processes that lead to the selling of goods or services.