The Public Demand That Businesses Give Proper Consideration to Consumer

question 34

Multiple Choice

The public demand that businesses give proper consideration to consumer wants and needs in making its decisions is known as ___.

• A) consumerism
• B) political activism
• C) conservation
• D) ethics

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Definitions:

Marginal Cost

The additional cost incurred in the production of one extra unit of a good or service.

Average Fixed Cost

The fixed costs of production divided by the quantity of output produced; these costs decline as production increases.

Marginal Cost

The financial cost of producing an extra unit of a good or service.

Average Total Cost

The total cost of production divided by the quantity of output produced.