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What is scarcity,and why is it a fundamental concept in economics?
Minimum Ethically Required
The lowest standard of behavior expected of individuals or organizations, based on ethical principles and societal norms.
Social Responsibility
The obligation of individuals and organizations to act in ways that benefit society at large, often beyond legal or financial requirements.
Defensive Strategy
Business tactics aimed at protecting the company's market share, revenue, and profits from competitors or changing market conditions.
Minimalist Strategy
An approach focusing on minimum necessary actions or resources required to achieve desired outcomes, emphasizing simplicity and efficiency.
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