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Name and explain the ethical theory which says, “when in Rome, do as the Romans do.’ Also give two examples – one example of an ethical action under this theory and the second example of an unethical theory under the same theory.

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Microeconomics uses a set of fundamental principles to make predictions about how individuals behave in certain situations involving economic or financial transactions. These principles include the law of supply and demand, opportunity costs, and utility maximization. Microeconomics also applies to businesses.

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Name and explain the ethical theory which says, “when in Rome, do as the Romans do.’ Also give two examples – one example of an ethical action under this theory and the second example of an unethical theory under the same theory.​

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Name and explain the ethical theory which says, “when in Rome, do as the Romans do.’ Also give two examples – one example of an ethical action under this theory and the second example of an unethical theory under the same theory.