A Hotel Introduces Eco-Rooms That Have Energy-Efficient Mini-Bars, Organic Bed

question 29

Multiple Choice

A hotel introduces eco-rooms that have energy-efficient mini-bars, organic bed linen, and napkins made of recycled papers.They also advertise that their rooms are fitted with CFLs or LEDs to conserve energy.This is an example of:

• A)green bin.
• B)green washing.
• C)green marketing.
• D)bid rigging.
• E)bait-and-switch.

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Definitions:

Commerce Equilibrium

A state in which supply and demand within a marketplace are balanced, resulting in an efficient distribution of resources.

Rational Economics

An approach to understanding economic behavior that assumes individuals act based on logical calculations to maximize utility or profit.

Socialism

A political and economic theory advocating for the means of production, distribution, and exchange to be owned or regulated by the community as a whole.

Economic Theories

The body of knowledge concerning the production, consumption, and transfer of wealth, formulated as models and principles that aim to explain economic behaviors and predict outcomes.