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Values Are Standards That Provide Criteria by Which We Evaluate

question 65

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Values are standards that provide criteria by which we evaluate people, objects, and events. They also dictate which behaviors are appropriate and which ones are not.


Definitions:

Metric System

A decimal system of units based on the meter, kilogram, second, etc., used for scientific and most international measures.

Elastic Demand

A scenario in which the need for a product or service drastically shifts due to variations in its cost.

Increase Revenue

Increasing revenue refers to actions or strategies aimed at raising the total amount of money generated from sales of goods or services.

Firm

A business organization, such as a corporation or partnership, that sells goods or services in exchange for money.

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