Describe the Five Principles of the Trust Services Framework

question 45

Essay

Describe the five principles of the Trust Services Framework.Select one of the principles and discuss the why it is important to an organization.

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Definitions:

Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating its sensitivity to price changes.

Total Revenue

The total amount of money generated by the sale of goods or services related to the company's primary operations.

Elastic

Describes a situation where the demand or supply for a good or service significantly changes in response to a change in price.

Unit Elastic

A demand or supply situation where a percentage change in price leads to an equal percentage change in quantity demanded or supplied.