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Many firms in the United States file for bankruptcy every year, yet they still continue

Principles of Economics | 1st Edition | ISBN: 9781938168239 | Authors: Steven A. Greenlaw, Timothy Taylor ISBN: 9781938168239 470

Solution for problem 34 Chapter 8

Principles of Economics | 1st Edition

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Principles of Economics | 1st Edition | ISBN: 9781938168239 | Authors: Steven A. Greenlaw, Timothy Taylor

Principles of Economics | 1st Edition

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Problem 34

Many firms in the United States file for bankruptcy every year, yet they still continue operating. Why would they do this instead of completely shutting down?

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BMGT Chapter 4: Demanding Ethical and Socially Responsible Behavior So we’re getting to the part of business where we actually have to be a good person and can’t strip people of their riches. Just kidding, we would never be those people! Let’s dive right in… Ethics vs. Legality - Laws are just the hard rules on paper, while ethics are more than that. Ethics are a matter of is it right not just “is it legal” Ethics: society’s accepted standards of moral behavior (right vs. wrong) - Some people think this is an individual thing, but certain rules hold true for many of us (lying, cheating and stealing are widely considered to be wrong) - It may look easy, always doing the right thing, but most teens answered a survey that they feel they are ready to work ethically, yet 51% cheated on a test in the last year - Sometimes we must battle ethics with other goals - To figure out ethics here are some questions to ask yourself. (For an example, I will be using stealing your neighbors dog, because you can’t afford your own) 1. Is it legal Does this action abide by the law or a specific policy With my example, stealing a dog is illegal…so I would answer this question with a no 2. Is it balanced Is it fair Will I win at the expensive of another The answer would be no, because yes you’d get a cute new point but your neighbor would lose their dog and have no gains 3. How will it make me feel abou

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Chapter 8, Problem 34 is Solved
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Textbook: Principles of Economics
Edition: 1
Author: Steven A. Greenlaw, Timothy Taylor
ISBN: 9781938168239

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Many firms in the United States file for bankruptcy every year, yet they still continue