Final answer:
ISO focuses on quality management and ensures equity in the marketplace through fair trade practices.
Step-by-step explanation:
ISO (International Organization for Standardization) focuses on quality management. It establishes standards and guidelines to ensure that products and services meet certain quality requirements.
ISO emphasizes aspects such as customer satisfaction, process efficiency, and continual improvement. By following ISO standards, organizations can demonstrate their commitment to quality and enhance their competitiveness in the marketplace.
In terms of ensuring equity in the marketplace, ISO promotes fair trade practices. It emphasizes principles such as transparency, non-discrimination, and fair competition. ISO standards help to create a level playing field for businesses by setting guidelines for ethical behavior, product safety, and environmental sustainability. This ensures that all participants in the marketplace have equal opportunities and consumers are protected.