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Discuss the Utilitarian Approach to Business Ethics

question 52

Essay

Discuss the utilitarian approach to business ethics. When was this approach developed? What are its drawbacks?


Definitions:

Unemployment Level

The fraction of working-age individuals without a job, yet actively trying to find one.

Output

The complete volume of goods or services created by a firm, industry, or the economy as a whole.

National Debt

The cumulative sum of funds a nation's government owes due to borrowing, which remains unpaid.

GDP

Gross Domestic Product, a measure of the economic performance of a country, calculated by adding the total value of all goods and services produced within its borders.

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