The Trend Towards Public Affairs Benchmarking Had Its Origins in

question 21

Multiple Choice

The trend towards public affairs benchmarking had its origins in

• A) companies' dissatisfaction with their PAC activities.
• B) strategic philanthropy.
• C) the total quality movement.
• D) international public affairs initiatives.

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Definitions:

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.

Single-Price Monopolist

A market dominance condition where a monopolist charges the same price for all units of a product sold to every consumer.

Perfectly Price Discriminate

A theoretical pricing strategy where a seller charges the maximum price each individual consumer is willing to pay, capturing all consumer surplus.

Profit Area

A segment of a business or a market where the income earned is more than the expenses incurred, resulting in a financial gain.