Introduction to Business Students Know That the Creation of Laws

question 139

True/False

Introduction to Business students know that the creation of laws are the first step that a society takes in order to act in an ethical manner.The U.S.government learned that unless it stepped in and created business laws,many firms would not concern themselves with fair practices when it comes to hiring,firing,and non-discriminatory actions.
Business laws are passed as the first step toward behaving ethically.Without these laws,many businesses would not be concerned with fair labor practices.

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Definitions:

Logistics Cost Centers

Areas within a company's logistics operation that are responsible for specific expenses, helping in budgeting and financial tracking.

Least Cost Analysis

A method used to minimize costs of achieving a specific objective, commonly used in decision-making for choosing the most cost-effective option.

Short-Run Analysis

An examination of the performance or behavior of a firm or model over a short period, focusing on immediate costs and outcomes.

Cost Center Analysis

The process of evaluating the costs associated with a specific business unit or department, without directly attributing to revenue generation, aiming to optimize efficiency.