1. input costs good that can be used as a replacement for another good in the production process 2. interrelated markets markets that are connected in a mutual way 3. production substitute expenses of productive resources 4. supply quantity of a good or service that producers make and sell in the market

The textbook defines ethics as “the principles of conduct governing an individual or a group,” and specifically as the standards one uses to decide what their conduct should be. to what extent do you believe that what happened at bp (british petrolium) is as much a breakdown in the company’s ethical systems as it is in its safety systems, and how would you defend your conclusion?