Which Statement Is True

question 1

Multiple Choice

Which statement is true?

• A)American industry is very competitive.
• B)There is no competition in American industry.
• C)In order to have competition you need to have many firms in an industry.
• D)The automobile and computer software industries are good examples of competition at work.

Understand the concept of corporate social responsibility and its significance in modern business.

Identify the link between social responsibility and business profitability.

Recognize legal and ethical responsibilities of businesses.

Learn about the role of corporate citizenship and its activities.

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Definitions:

Discriminate in Prices

The practice of charging different prices to different consumers for the same product or service, based on various factors such as willingness to pay, location, or purchase volume.

Unlawful

Actions or conduct that are not permitted by law and could lead to legal penalties.

Fair Trade Act

Legislation aimed at ensuring producers in developing countries are paid fair prices for their goods.

Consumerism

An economic and social system that promotes the continuous increase in purchasing and consuming goods and services.