not maximising benefit Flashcards
1
Q
why do consumers not maximise their benefit
A
lack of information, habit/addiction, copy others behaviour
2
Q
why do producers not maximise their benefit
A
wish to maximise sales, prioritise caring for customers, complete charity work
3
Q
why would producers wish to maximise sales
A
to increase their market share, force rivals out of business and aim to get monopolistic power
4
Q
what is CSR
A
corporate social responsibility, how firms aim to create a positive impact on environment
