This Can Be Defined as the Actions of a Firm

question 72

Multiple Choice

This can be defined as the actions of a firm to benefit society beyond the requirements of the law and the direct interests of the firm.

• A)Corporate social responsibility
• B)Law
• C)Governance
• D)Ethics

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Definitions:

Workers

Individuals engaged in any form of economic activity or employment, contributing labor for the production of goods and services.

Marginal Product

The additional output that can be produced by adding one more unit of a specific input, keeping all other inputs constant.

Total Product

The total quantity of output produced by a firm or economy with a given amount of inputs.

Diminishing Returns

An economic principle stating that if one factor of production is increased while others remain constant, the overall returns will eventually decrease after a certain point.