Answer: In accordance with the neoclassical economics, the monetary value of a commodity or service is considered as the price of the commodity in an open market. This value is generally determined by the forces of demand and supply , i.e the demand for the commodity relative to supply. Several neoclassical economist evaluate the value of a product or service with the price, irrespective of the market being competitive.
The Elaboration Likelihood Model (ELM) states that when a person is able and motivated, they are most likely to adopt the primary route to persuasion.
What is elaboration likelihood model?
According to the elaboration likelihood model, there are two ways that people can be persuaded of anything, depending on how interested they are in the subject. Persuasion takes place through the central channel when people are highly motivated and have the time to consider their options. In this case, they thoroughly assess the advantages and disadvantages of a decision.
The dual process theory known as the elaboration likelihood model (ELM) of persuasion describes how attitudes change. Richard E. Petty and John Cacioppo created the ELM in 1980. The model seeks to clarify various methods of processing stimuli, their uses, and the effects they have on attitude change. The center route and the periphery route are the two main paths for persuasion suggested by the ELM.
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Decrease in marine animal population Impact of Human Activities Human Activity Impact Replacing marsh with high-rise buildings Decrease in bird population
I think this might be correct
The Advantages and disadvantages of social and environmental responsibility in business includes the following.
<h3>Advantages</h3>
- Profitability and Value
- Better Customer Relations
<h3>Disadvantages</h3>
- Costs Money to Implement
- Conflicts with the Profit Motive
- Consumers are Wise to Greenwashing
<h3>
What is social and environmental responsibility </h3>
This refers to the consideration given to people, planet and profit issues that leads to sustained competitive advantage.
It involves Creating socially responsible and sustainable employment practices which help organizations meet current needs without compromising the ability to meet future needs.
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