When an Industry Is in Decline

question 117

Multiple Choice

When an industry is in decline,

• A)it is indicative of a weak economy.
• B)it might be due to an increase in demand for the product.
• C)it is common for firms to earn economic losses.
• D)firm entry occurs.
• E)all firms eventually leave the industry.

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Definitions:

Ethical Decision-making

The process of evaluating and choosing among alternatives in a manner consistent with ethical principles.

Decision-making Approach

A systematic process for making choices among various alternatives, often involving steps such as identifying a problem, generating options, and selecting a course of action.

Fairness

The quality of treating people equally or in a way that is right and just.

Justice

The concept of fair treatment and equitable distribution of benefits and burdens within society or an organization.