Which of the Following Statements Is True of Sustainability

question 44

Multiple Choice

Which of the following statements is true of sustainability

• A) Sustainability practices lead to better public perception.
• B) Sustainability practices are limited to service-providing firms.
• C) The use of sustainable technology reduces short-term operational costs.
• D) The application of sustainable technology is limited to the agriculture industry.

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Definitions:

Market Shortage

A situation where the demand for a product exceeds its supply in the market, leading to scarcity.

Equilibrium Price

The price at which the supply of an item equals the demand for it, resulting in no excess supply or demand.

Binding Price Ceiling

A maximum price set by the government below the equilibrium price, leading to shortages as the demand exceeds supply.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level in a given time period.