In the 1990's,Nike Was Heavily Criticized for Its Labor Practices

question 48

Multiple Choice

In the 1990's,Nike was heavily criticized for its labor practices.Today the company works closely with agencies around the world to improve global working conditions.What stage of corporate responsibility has Nike progressed to?

• A)Compliant
• B)Managerial
• C)Strategic
• D)Civil

Grasp the economic principles underlying pricing strategies in competitive markets.

Understand the concept of diminishing returns and its effect on marginal and average product.

Describe the relationship between marginal cost and average cost, and their implications for cost behavior.

Comprehend the law of diminishing marginal productivity and its implications for output.

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Definitions:

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two goods, given a set of inputs, assuming all resources are fully and efficiently utilized.

Unemployment Rate

The slice of the labor pool actively seeking employment but currently unemployed.

Full Production

The state where all available resources are being used efficiently to produce goods and services.

Economic Problem

The fundamental issue of limited resources to meet unlimited wants, necessitating choices and prioritization in allocation.