List the Four Factors of Production and Provide an Example

question 104

Essay

List the four factors of production and provide an example of each factor.

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Definitions:

Lying to Customers

The unethical practice of deliberately providing false information to customers about products or services.

Ethical Behavior

Behavior demonstrating a willingness to treat others fairly and that shows one to be honest and trustworthy and that exhibits loyalty to company, associates, and the work for which one is responsible.

Treating Others Fairly

The act of interacting and making decisions in a way that is just, unbiased, and equitable towards all individuals.

Ethical Dilemma

A situation in which a person must choose between conflicting moral principles, making a decision that could have ethical ramifications.