The Arguments "Let Business Try" and "Business Has the Resources

question 14

Multiple Choice

The arguments "Let business try" and "Business has the resources" are a part of

• A) why business should not assume social responsibility.
• B) why business should assume social responsibility.
• C) the classical economic model.
• D) the relationship between corporate social responsibility and financial position.

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Definitions:

Fixed Costs

Fixed costs are business expenses that remain unchanged regardless of the level of production or sales activity, such as rent, salaries, and insurance.

Unit Variable Costs

The costs that vary directly with the production volume, per unit of output.

Total Cost

The aggregate monetary value of all materials, labor, overhead, and expenses spent on a project or production.

Net Income

The amount of money left after all expenses, taxes, and deductions have been subtracted from total revenue.