Commonly, Firms Tend to Fulfill Their Legal Responsibilities by

question 15

Multiple Choice

 Commonly, firms tend to fulfill their legal responsibilities by

• A) complying with laws, anticipating future laws, and avoiding civil litigation.
• B) investing heavily in CSR and fulfilling ethical responsibilities.
• C) creating a productive workforce and maintaining employment standards.
• D) striving to improve shareholder value.

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Definitions:

Workers Pay

The compensation, including wages, salaries, and benefits, that an employee receives from an employer in exchange for their labor.

Excise Tax

A specific tax levied on certain goods, such as cigarettes or alcohol, usually to discourage their use or generate revenue.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service versus the total amount they actually pay.

Producer Surplus

The difference between what producers are willing to sell a good for and the actual price they receive, reflecting extra profit.