Corporate Social Responsibility Is Only Applicable Where There Is

question 39

Multiple Choice

corporate social responsibility is only applicable where there is

• A)a high level of affluence.
• B)a high level of poverty.
• C)a high level of globalization.
• D)CSR is applicable in all areas.

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Definitions:

Surplus

The situation where the quantity of a good or service produced exceeds the quantity demanded at the current price.

Competitive Market

A market structure characterized by a large number of sellers and buyers where no single market participant has the power to influence prices significantly.

Equilibrium Price

The price at which the quantity of a product offered for sale equals the quantity that consumers are willing to buy.

Price Support Program

Government interventions to maintain the market price of a commodity or product above its equilibrium level.