An Important Way for Double-Checking the Ethics of a Decision

question 191

Multiple Choice

An important way for double-checking the ethics of a decision is to ask which one of the following questions?

• A) How would I feel about this decision if it made a lot of money for the company?
• B) How would I feel if I received a large bonus a result of making this decision?
• C) How would I feel if this decision harmed someone?
• D) How would I feel if a competitor lost business as a result of this decision?
• E) How would I feel if my family found out about my decision?

Understand the concepts and applications of hypnosis, including its practice, theoretical underpinnings, and effects on perception and pain management.

Comprehend the role of social influence and suggestibility in shaping human behavior and experiences.

Grasp the physiological and psychological processes involved in sensory experiences, including pain relief through dissociation or placebo effects.

Recognize the psychological phenomenon related to expectation and perception, such as the impact of last experiences and the influence of price on perceived quality.

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Definitions:

Competitive Price-searcher

A market participant who sets prices through active search and strategy, often in markets with some degree of product differentiation.

Product Diversity

The variation of products and services offered in a market to meet different customer needs and preferences.

Firms Exit

This occurs when businesses cease operations and leave a market, typically due to factors like unprofitability, competitive pressures, or changing market conditions.

Competitive Price-searcher

This refers to a market situation where companies set their prices based on competition and market conditions, aiming to attract customers by offering better deals than their rivals.