A More Recent Issue That Is Causing Major Problems in the Business

question 6

Multiple Choice

A more recent issue that is causing major problems in the business community is

• A) short-term versus long-term financial goals of management.
• B) the privatization of ownership.
• C) environmental concerns.
• D) ethical problems.

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Definitions:

Economy

The mechanism through which a society manufactures, allocates, and utilizes goods and services.

Opportunity Cost

The foregone benefit that could have been enjoyed if an alternative choice had been made.

Factors Of Production

The resources used in the production process, including land, labor, capital, and entrepreneurship.

Available Technology

The current state of technological advances and machinery available to businesses for production purposes.