Ray Anderson Is Noted as a Model Businessman Because He

question 11

Multiple Choice

Ray Anderson is noted as a model businessman because he

• A)ran a major carpet retailer while following government regulations.
• B)was an innovator of new carpet design techniques using the latest technology.
• C)shifted a large company toward sustainable business practices while growing his business.
• D)acknowledged that growing his business was secondary to practicing sustainability.
• E)lobbied effectively for government carpet square subsidies.

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Definitions:

Surplus

An excess of production or supply over demand, often leading to lower prices or an inventory accumulation.

Price Ceiling

A government-imposed limit on how high a price is charged for a product, aimed at preventing prices from reaching levels deemed too high.

Price Floor

A government or group-imposed price control or limit on how low a price can be charged for a product. It is aimed at preventing prices from being too low.

Shortage

refers to a situation where the demand for a product or service exceeds the supply available at a specific price.