Corporate Social Responsibility Means

question 10

Multiple Choice

Corporate Social Responsibility means

• A) A business has a responsibility to make a profit
• B) A business accepts a responsibility to be a corporate citizen
• C) A business accepts a responsibility to be a behave legally
• D) A business accepts a responsibility not to make a profit

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Definitions:

Prospect Theory

A behavioral economics theory of preferences having three main features: (1) people evaluate options on the basis of whether they generate gains or losses relative to the status quo; (2) gains are subject to diminishing marginal utility, while losses are subject to diminishing marginal disutility; and (3) people are prone to loss aversion.

Behavioral Economists

Economists who study how psychological, social, cognitive, and emotional factors affect economic decisions and market outcomes.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.