A Business Person Would Be Faced with a Defining Moment

question 9

Multiple Choice

A business person would be faced with a defining moment in terms of ethics when he or she

• A) had a chance to cheat on the expense account.
• B) had to choose between two or more morally sound choices.
• C) received recognition for outstanding ethical behaviour.
• D) had to report on the unethical behaviour of a co-worker.

Distinguish between constant, increasing, and decreasing marginal costs and benefits.

Calculate total profit or benefit given data on marginal costs and benefits.

Evaluate decisions using the concept of opportunity cost and sunk costs.

Determine the optimal allocation of limited resources across different activities to maximize total benefit or score.

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Definitions:

Cognitism

The psychological theory that cognitive processes are essential to understanding human behavior and interactions, focusing on thoughts, perceptions, and information processing.

Functionalism

A theoretical perspective in sociology and psychology that examines the functions or purposes of the structures and processes of a system.

Mentalism

An approach in psychological theory focused on understanding mental processes, emphasizing the mind's role in behavior and interpretation of the world.

Cognitive Revolution

A shift in psychology during the late 20th century, emphasizing research on how people think, understand, and remember information, moving away from behaviorism.