In 2004 a Tenth Principle to the UN Global Compact

question 32

Multiple Choice

In 2004 a tenth principle to the UN Global Compact was added focusing on __________.

• A) anti-corruption
• B) global cooperation on poverty alleviation
• C) rights to collective bargaining
• D) abolition of child labour
• E) bilateral action on climate change

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Definitions:

No Externality

A situation where private costs or benefits are equal to social costs or benefits, with no spillover effects on third parties.

Market

An arrangement or venue where parties engage in exchange of goods and services.

Positive Externality

A benefit that is enjoyed by a third-party as a result of an economic transaction or activity in which they did not directly participate.

Marginal Social Benefit

The additional benefit to society from consuming one more unit of a good or service.