Corporate Social Responsibility Links the Responsibility of Citizenship with the Strategy

question 26

True/False

Corporate social responsibility links the responsibility of citizenship with the strategy and key principles of a business.

Assess how changes in determinants of demand and supply, such as consumer income or resource prices, affect market equilibrium.

Explain the impact of changes in the prices of substitute goods on the demand for a product.

Identify the outcomes of simultaneous shifts in both supply and demand curves on equilibrium price and quantity.

Understand the significance of equilibrium in achieving allocative efficiency in markets.

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Definitions:

World's Land Area

Refers to the total surface area of the Earth that is covered by land.

Forested

Describes an area covered with forests or having a large amount of tree cover.

Percentage

A way of expressing a number as a fraction of 100, used to compare proportions.

Land

In addition to the part of the earth’s surface not covered by water, this term refers to any and all natural resources (“free gifts of nature”) that are used to produce goods and services. Thus, it includes the oceans, sunshine, coal deposits, forests, the electromagnetic spectrum, and fisheries. Note that land is one of the four economic resources.