Do You Agree with the View That Businesses Must Be

question 20

Essay

Do you agree with the view that businesses must be involved in social responsibility activities? Explain your answer.

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Definitions:

Competition

The rivalry among sellers in the market striving for a greater share of profits by offering the best possible terms to consumers.

New Products

Goods, services, or technologies that have been recently developed and introduced to the market.

Long-Run Supply Curve

A graphical representation showing the relationship between the price of a good and the total output produced by firms in the market over a long period, assuming input factors are variable.