Many Well-Known Restaurants and Corporations Are Changing to a Completely

question 122

Multiple Choice

Many well-known restaurants and corporations are changing to a completely smoke-free environment,and fewer restaurants offer smoking and nonsmoking sections.These firms are responding to changes in

• A)federal law.
• B)cultural values.
• C)demographics.
• D)consumerism.
• E)technological forces.

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Definitions:

Centralized Planning

A system of economy where all choices related to the creation and allocation of goods and services are made by a central governmental body.

Competitive Markets

Markets where many buyers and sellers trade goods and services under conditions of few restrictions, leading to the best prices for both parties.

Opportunity Cost

The advantage lost by selecting one option instead of another.

Full-tuition Scholarships

Financial awards covering the entire cost of tuition for students, often based on academic merit, need, or other criteria, provided by educational institutions or donors.