Which of the Following Statements About Fairness Is True

question 40

Multiple Choice

Which of the following statements about fairness is true?

• A) In a capitalistic economic society, organizations are only concerned about fairness when dealing with consumers and competitors.
• B) Fairness is seldom the result of proactive thinking.
• C) Concerns about fairness are typically handled reactively.
• D) Members of the labor force initiate and ultimately create federal and state laws.
• E) Fairness in the workplace is a result of ethical principles not legal institutions.

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Definitions:

Shrimp Market

An economic market specifically for the trading and selling of shrimp, influenced by factors like supply, demand, seasonality, and aquaculture developments.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product, service, or commodity.

Consumers

Individuals or households that purchase goods and services for personal use.

Total Surplus

The sum of consumer surplus and producer surplus, representing the total net benefit to society from the production and consumption of a good or service.