logo
Ask Question

Asked by Cynthia Frias on May 07, 2024

verifed

Verified

What ethical issues affecting consumers and society as a whole are created by unfair competition?

Unfair Competition

Practices that are unjust or deceptive in the marketplace, infringing on the rights of others to conduct business freely and equitably.

Ethical Issues

Situations or problems requiring a choice between conflicting moral principles or actions.

Society

A community of people living together in an ordered community, sharing customs, laws, and organization.

  • Familiarize oneself with essential statutes affecting enterprise functioning and compliance prerequisites.
  • Recognize the functions and obligations of companies within ethical, legal, economic, and social contexts.
verifed

Verified Answer

AG
Angel GonzalezMay 13, 2024
Final Answer :
When businesses compete unfairly, legal and social responsibility issues can result. Competing to harm a competitor results in reduced product choices for consumers. Price collusion by large companies results in higher prices for consumers.

Related questions

Cause-Related Marketing Is the Synergistic and Mutually Beneficial Use of ...

Why Do You Think the Costs of Compliance with Sarbanes ...

_____ Tie(s) an Organization's Product(s) Directly to a Social Concern ...

Companies That _____ Will Most Likely Be Found in Violation ...

The Sarbanes-Oxley Act Created the _____ to Oversee the Accounting ...