-Statement I

question 202

Multiple Choice

-Statement I.The definition of economics is that equilibrium is when supply and demand are equal.
Statement II.Human wants are limited because our resources are limited.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Temptation of Fraud

The allure or inclination to engage in deceptive practices for personal or organizational gain.

Cultural Norms

Shared expectations and rules that guide behavior of people within social groups.

Inflated Expectations

Describes heightened or unrealistic anticipations about a situation, product, or event that may lead to disappointment when not met.

Organizational Ethics

Refers to the principles, values, and standards that guide behavior within the context of a business or organization, determining its conduct and decision-making processes.