The Business Definition Has Three Elements: ________

question 19

Multiple Choice

The business definition has three elements: ________.

• A) target market, potential customers, and production capability
• B) offer, target market, and production/delivery capability
• C) offer, acceptance, and consideration
• D) business definition, target market, and market analysis

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Definitions:

Morality

A system of beliefs and principles concerning the distinction between right and wrong or good and bad behavior.

Institution

A structured and established organization or foundation, often societal or public, that serves a specific purpose, such as educational, financial, religious, or governmental.

Veil Of Ignorance

A philosophical tool proposed by John Rawls to ensure impartiality in ethical decision-making by imagining oneself ignorant of personal characteristics.

Difference Principle

A theory proposed by philosopher John Rawls suggesting social and economic inequalities should be arranged so they benefit the least advantaged members of society.