A ______ Is Defined as "An Enduring Belief That a Specific

question 24

Multiple Choice

A ______ is defined as "an enduring belief that a specific mode of conduct or end-state of existence is personally or socially preferable to an opposite or converse mode of conduct or end-state of existence."

• A) value
• B) value statement
• C) value system
• D) value framework

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Definitions:

Industry

A group of firms producing similar products or services that serve the same market.

Profits

The financial gain achieved when the revenue from business activities exceeds the costs and expenses involved in operating.

Market Economy

An economic system where the prices of goods and services are determined in a free price system, set by supply and demand.

Efficient

Pertaining to a system or process that operates in a way that maximizes output with minimal waste, effort, or expense.