When a Company Has Found an Innovative Way to Reduce

question 1

Multiple Choice

When a company has found an innovative way to reduce their waste sent to the landfill and generate income as well, this is an example of

• A)increasing their market share.
• B)generating new revenue streams.
• C)improving external image.
• D)reducing litigation risks.

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Definitions:

Efficient Outcome

An economic situation in which every resource is optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency.

Peace and Quiet

signifies a state of tranquility and serenity, often desired by individuals seeking relief from stress or chaos.

Home Business

A business operated from the owner's residence, often characterized by lower overhead costs and flexible working hours.

Coase Theorem

A principle that asserts under conditions of no transaction costs and well-defined property rights, parties will negotiate to correct externalities and allocate resources efficiently.