The Students Were Frustrated

question 33

Multiple Choice

The students were frustrated.Every time they asked their professor to give an ethical assessment,she would reply,"It depends".The professor felt that there were no rules or standards to guide behaviour and that every decision depends on the circumstances.The professor is applying _______.

• A) ethical relativism
• B) cultural relativism
• C) individual rights
• D) personal virtues ethic
• E) ethic of caring

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Definitions:

Market Prices

Prices determined by the supply and demand for goods and services in a competitive market.

Excise Tax

A tax directly levied on certain goods, services, or activities, often with the aim of discouraging their use or consumption.

Relative Burden

The comparative impact of a tax, cost, or other financial obligation on an individual or group.

Inelastic Demand

Inelastic demand is a situation where the demand for a product does not significantly change with a change in the product's price.