Gap Inc Ended Its Relationship with 23 Foreign Production Facilities Due

question 143

Multiple Choice

Gap Inc. ended its relationship with 23 foreign production facilities due to code violations. Several closings occurred because of the use of child labor. In response to these events, Gap Inc. created a large team whose purpose is to travel worldwide to ensure compliance with its Code of Vendor Conduct. This is an example of

• A) cause marketing.
• B) profit responsibility.
• C) utilitarianism.
• D) moral idealism.
• E) social responsibility.

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Definitions:

Short Run

A period in economics during which some factors of production are fixed, typically under a year, making some adjustments impossible or difficult.

Long Run

A period in economics where all factors of production and costs are variable, allowing companies and industries to adjust to market changes.

Aggregate Supply Analyses

The assessment of the total supply of goods and services that firms in an economy plan on selling during a specific time period at different price levels.

Keynesian

Pertaining to the economic theories and policies of John Maynard Keynes, emphasizing the role of government intervention to ensure full employment and stable economies.