Under a Business Initiative Called Ecomagination,GE Is Looking for Business

question 124

Multiple Choice

Under a business initiative called Ecomagination,GE is looking for business opportunities from

• A)lean manufacturing.
• B)environmental scanning.
• C)reconciliation.
• D)integrity-based programs.
• E)solving environmental problems.

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Definitions:

Economic Profits

Earnings that exceed the total costs of production, including both explicit and implicit costs, indicating an above-normal return on investment.

Demand Curve

A visual representation that maps out the correlation between the price level of a good and how much of it consumers are willing to purchase.

Collusion

A secret or illegal cooperation or conspiracy, especially between businesses to limit competition and raise prices.

Marginal Cost

The financial outlay involved in producing a supplementary unit of a good or service.