How does the Confucian concept of honesty help bring down the costs of doing business?
A)Confucian cultures have legal provisions to impose sanctions on businesses which are known to break contracts.
B)Companies in Confucian cultures trust each other to do business honestly and do not need expensive lawyers to resolve disputes.
C)Confucian culture dictates that one should not make exorbitant profits while doing business.
D)The prevailing Communist ideology in Confucian cultures necessitates that companies are obligated to honor contracts,driving down costs of doing business.

Question

Quizplus · Accepted Answer

The importance attached to honesty in Confucianism has major economic implications.When companies can trust each other not to break contractual obligations,the costs of doing business are lowered.Expensive lawyers are not needed to resolve contract disputes.

How Does the Confucian Concept of Honesty Help Bring Down