Responding to Changes in the Market and Competitive Environments by Moving

question 30

Multiple Choice

Responding to changes in the market and competitive environments by moving forward in a ________________ manner anticipates changes and then formulates
Strategies.

• A) proactive
• B) deductive
• C) constructive
• D) reactive
• E) participative

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Definitions:

Vertical Equity

A principle in taxation where taxpayers with a greater ability to pay, pay more in taxes, demonstrating a progressive tax system.

Small Economy

An economy that is limited in size, characterized by a smaller population, lower GDP, and less impact on international markets compared to larger economies.

Horizontal Equity

A principle in taxation that asserts that individuals with the same income or resources should pay the same amount in taxes.

Vertical Equity

A principle in tax policy that states taxpayers with a greater ability to pay should contribute more in taxes.