Which of the Following Statements About a Code of Ethics

question 31

Multiple Choice

Which of the following statements about a code of ethics is most true?

• A)A code of ethics is rarely a written document but instead an informal understanding between people who work for a particular organization.
• B)Most codes of ethics offer guidance on how to treat stakeholders.
• C)The purpose of a code of ethics is to keep top management out of jail.
• D)Codes of ethics typically prohibit bribes unless it is the accepted way of doing business in a foreign country.
• E)Workforce diversity is not covered in a code of ethics; instead it is usually covered in a separate diversity code.

---

Definitions:

Perfectly Inelastic

A market condition where the quantity demanded does not change as the price changes.

Price Elasticity

A measure of how sensitive the quantity demanded of a good is to a change in its price.

Consumer Purchases

This term refers to the buying of goods and services by consumers for their personal use.

Price Elasticity Coefficient

A measure used in economics to show how the quantity demanded of a good or service responds to a change in its price, calculated as the percentage change in quantity demanded divided by the percentage change in price.