When Flora Quits Her Job Earning $85,000 a Year to Open

question 48

Multiple Choice

When Flora quits her job earning $85,000 a year to open hers own business, the income that she gives up is considered _____ cost.

• A) an explicit
• B) an implicit and explicit
• C) an opportunity
• D) a derived

Distinguish between business ethics and marketing ethics.

Recognize the role of corporate social responsibility (CSR) in the marketing and operation of controversial or polluting industries.

Define and explain the concept of corporate social responsibility (CSR) and its importance in achieving the triple bottom line.

Identify stakeholders relevant to an ethical decision-making process in business and discuss their interests.

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Definitions:

Wage Rate

The fixed amount of compensation or payment received by an employee for employment services, typically expressed per hour or year.

Intense Heat

Extremely high temperatures that can impact environments, health, and activities.

Millionaires

Individuals whose net worth or wealth equals or exceeds one million units of currency.

College Degrees

Formal certifications provided by colleges or universities indicating the completion of a specific program of study.