Which of the Following Is an Example of an Economic

question 109

Multiple Choice

Which of the following is an example of an economic trade-off that a firm has to make?

• A)whether it is cheaper to produce with more machines or with more workers
• B)deciding why consumers want its products
• C)whether or not consumers will buy its products
• D)deciding what profit margin it desires for its products

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Definitions:

Stakeholder Responsibility

The obligation of organizations to consider the interests and well-being of all individuals or groups affected by their actions.

Profit Responsibility

An obligation companies bear to generate financial gains for their shareholders, ensuring the organization's economic viability and growth.

Stakeholder Responsibility

The obligation of an organization to consider the interests and wellbeing of all parties affected by its decisions and activities, including employees, customers, suppliers, and the broader community.

Consumers

Individuals or groups who purchase goods and services for personal use and are the final users in the distribution process.