Examlex
Why are business ethics an important issue in business planning?
Scarcity
A fundamental economic problem of having seemingly unlimited human wants in a world of limited resources.
Decision-making Processes
The steps involved in choosing among alternatives to address a problem or capitalize on an opportunity.
Capitalism
An economic system characterized by private or corporate ownership of capital goods, investments dictated by private decision, and prices, production, and the distribution of goods determined mainly by competition in a free market.
Marginal Cost
The cost of producing one additional unit of a good or service, which can change depending on the level of production.
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