Why Do Firms Engage in the Activity of Production

question 158

Multiple Choice

Why do firms engage in the activity of production?

• A) to help society advance technologically
• B) to participate in the circular flow
• C) to acquire profits
• D) to develop a supply schedule

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Definitions:

Moral Development

The process through which individuals develop proper attitudes and behaviors towards other people in society, based on social and cultural norms, laws, and personal beliefs.

Preconventional

The initial level of moral development, according to Kohlberg, characterized by understanding morality based on consequences and individual interests.

Conventional

Adhering to established practices or norms; traditional.

Postconventional

Relates to the highest stages of moral development, marked by a focus on internal principles rather than societal norms or rules.