The Areas in Which Business Can Act to Protect and Improve

question 3

Multiple Choice

The areas in which business can act to protect and improve the welfare of society are numerous and diverse.Which of the following is NOT an example of an area of social responsibility?

• A)employment practices
• B)social media
• C)urban affairs
• D)community volunteerism
• E)consumer affairs

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Definitions:

Fixed Cost

Fixed Cost is a business expense that does not change with the level of goods or services produced within a certain period.

Variable Costs

Variable costs fluctuate with the level of output, increasing as production rises and decreasing as production falls.

Lawn-mowing

The process of cutting the grass in a yard or garden to maintain its appearance and health, often using a manual or motorized lawnmower.

Perfectly Competitive

A market structure characterized by a large number of small firms, a homogenous product, perfect information, and no barriers to entry or exit.