A market-based approach of paying higher prices to producers for goods exported from developing countries in an effort to promote sustainability and to ensure the people in developing countries receive better trading conditions is which of the following?

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Fair trade is a market-based approach that pays higher prices to producers for goods exported from developing countries. It promotes sustainability and ensures people in developing countries receive better trading conditions. Social audit refers to the process of evaluating a company's social responsibility performance. Ethical business refers to conducting business in a socially responsible manner. Corporate philanthropy refers to a company's charitable donations or acts of kindness towards society.

A Market-Based Approach of Paying Higher Prices to Producers for Goods