Author Question: Kenneth Arrow argues that a. settled economic life requires purely selfish behavior. b. with ... (Read 153 times)

mia · **on:** Jun 19, 2018

Kenneth Arrow argues that

a. settled economic life requires purely selfish behavior.
b. with ethical codes, there's no need for taxes, laws, or regulations as a way of controlling corporate behavior.
c. ethical codes can contribute to economic efficiency.
d. to be viable, ethical codes need not be widely accepted or part of corporate culture

Question 2

Kenneth Arrow discussed two important situations in which profit maximization can be socially inefficient. One of
these occurs when

a. there is an imbalance of knowledge between buyer and seller.
b. business would be an inept custodian of public values.
c. firms are unwilling or simply refuse to maximize profits.
d. corporate culture promotes dysfunctional social relations.