COMPETITION IN THE FREE MARKET SYSTEM
Provide an example to illustrate one of the four types of competition in a free market system: perfect competition, monopolistic competition, oligopoly, and monopoly. Did this competition result in any type of government intervention? Project how this type of competition, if widespread, would impact the overall health of the economy.
Determining ethical boundaries can sometimes be a challenge, since ethics is both based on individual beliefs as well as societal standards.
Would receiving a holiday gift from a client be considered bribery? Would it be wrong for a person in a position of power, like a mayor, to ask a bank manager friend for a personal loan? On a more practical level, is it unethical for a cashier to provide a coupon to a customer who did not have one at the register? Is it unethical for someone to complete a timesheet recording eight hours of work, when they left 45 minutes early?
Select a case study of an ethical dilemma in the workplace. You may use an example from this week’s readings, your professional experience, or a website.
Please answer the following questions:
1. What is the ethical dilemma? Describe the individuals involved in the scenario.
2. Who benefitted from this situation?
3. Who was disadvantaged or hurt?
4. What are the benefits of the decision?
5. What are the problems of the decision?
6. Will the decision survive the test of time?
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