Differences in Factor Accumulation And/or Differences in Production Efficiency Must

question 61

Multiple Choice

Differences in factor accumulation and/or differences in production efficiency must account for all international differences in:

• A)human capital and physical capital.
• B)saving rates and population growth rate.
• C)income per person.
• D)labour efficiency.

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Definitions:

Socially Responsible

The commitment of individuals, groups, and businesses to act ethically and contribute to economic development while improving the quality of life of the workforce, their families, the local community, and society at large.

Ethically Responsible

Pertains to decisions and actions guided by moral principles, focusing on doing what is right and beneficial for society and the environment.

Beverage Company

A business that produces drinks, which can include soft drinks, juices, bottled water, and alcoholic beverages, for consumer consumption.

Corporate Social Responsibility

An operational plan for businesses that incorporates attention to social and environmental issues within their daily activities and stakeholder relations.