Answer:
Social responsibility
Explanation:
Social responsibility: The term social responsibility is referred to as an ethical framework that describes any entity including an individual or an organization is bounded or responsible to act or behave in a way that benefits a particular society at large. It is often considered as a duty that an individual requires to perform to maintain a balance or equilibrium between ecosystems and the economy.
Types of social responsibility: Direct philanthropic giving, economic responsibility, ethical business practices, and environmental sustainability initiatives.
Answer:
Opportunity cost is what is given up to obtain something, or the cost of doing something instead of another thing.
The opportunity cost of leisure would be best explained as the monetary value of time spent not working, or in other words, the income that is not received when you are not working.
For example, if a person works 8 hours a day, five days a week, making $20/hour, he will earn, by the end of the week, a total of $800 dollars. However, if he decides to cut back his hours in order to go to swimming classes in the afternoon, and now works 6 hours a day, five days a week, he will now make $600 dollars, so the opportunity cost of leisure for him is $200 dollars.
The process of indentifying the benefits and costs of different alternatives by examining the incremental effect on total revenue and total cost causes by a very small (just one unit) change in the output or input of each alternative. Marginal analysis supports decision-making based on marginal or incremental changes to resources instead of one based on total or averages.
<span>Samuel de Champlain was the most associated with the first successful European settlement in Canada.</span>
