One Responsibility of Business Is to Satisfy Customers by Offering

question 206

True/False

One responsibility of business is to satisfy customers by offering them goods and services with real value.

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Definitions:

Price Level

The general cost of goods and services in an economy at a given time.

Net Exports

The value of a country's total exports minus the value of its total imports; it is a component of a country's gross domestic product (GDP).

Real Values

Economic measures that have been adjusted for inflation, allowing for comparisons over time by reflecting the actual purchasing power.

Nominal Terms

Values or prices expressed in current money terms, without adjusting for inflation or price level changes.