Consumerism Refers to

question 65

Multiple Choice

Consumerism refers to

• A) a movement of conspicuous consumption that began when World War II ended.
• B) conducting business in a way that protects the natural environment while making economic progress.
• C) a collaborative effort between buyers and sellers to create an exchange where each benefit.
• D) the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth.
• E) the grassroots movement started in the 1960s to increase the influence, power, and rights of consumers in dealing with institutions.

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Definitions:

Flow of Dollars

The movement of money through an economy, tracking how dollars are transferred from one sector to another.

Circular-Flow Diagram

A Circular-Flow Diagram is a visual model of the economy that shows how dollars flow through markets among households and firms.

Revenue

The total amount of income generated by the sale of goods or services related to a company's primary operations.

Factors of Production

The factors of production include land, labor, capital, and entrepreneurship, which are the resources used in the process of producing goods and services.