The Downside of Tax Avoidance Includes the Potential of Stiff

question 14

True/False

The downside of tax avoidance includes the potential of stiff monetary penalties and imprisonment.

Understand the influence of sustainability and CSR on company reputation and stakeholder relationships.

Distinguish PR from advertising in terms of media relations, costs, and audience engagement.

Recognize the role of PR professionals in crisis management and marketing communications.

Identify the components and importance of the triple bottom line in sustainable business practices.

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Definitions:

Economics

The social science that studies how individuals, governments, firms, and nations make choices on allocating resources to satisfy their wants and needs, attempting to determine how these groups should organize and coordinate efforts to achieve maximum output.

Scarcity

The fundamental economic problem of having seemingly unlimited human wants in a world with limited resources.

Society

Society refers to a group of individuals living together in a more or less ordered community, sharing common traditions, institutions, and values.

Scarcity

The basic challenge in economics of limitless human desires within a finite resource environment.