Most Paint Is Not Biodegradable and Not Friendly to the Environment

question 132

Multiple Choice

Most paint is not biodegradable and not friendly to the environment because it is made with petroleum solvents.A builder who decided to build a subdivision with 500 homes and paint each with an environmentally-friendly soy-based paint (even though it costs more) would be practicing:

• A)profit responsibility.
• B)cause-related marketing.
• C)stakeholder responsibility.
• D)societal responsibility

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Definitions:

Cross Price Elasticity

A measure of the responsiveness of the quantity demanded for one good to a change in the price of another good, indicating the degree of substitutability or complementarity between them.

Midpoint Method

The midpoint method is a technique used in economics to measure the elasticity of demand or supply, minimizing the bias in the response to price changes by using the average percentages of change in both quantity and price.

Income

Earnings acquired on a routine basis through work or investment profits.

Price Elastic

Describes a situation where the demand for a product changes significantly in response to a change in the product's price.