Milton Friedman Argued That Businesses

question 7

Multiple Choice

Milton Friedman argued that businesses

• A) should avoid social responsibility whenever it is possible to do so.
• B) should be required to use their resources to meet their social responsibilities.
• C) can only earn profits if they do so in a socially responsible manner.
• D) are justified in being socially responsible only if doing so enhances the firm's value.

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Definitions:

Long-Run Test

A long-run test is an evaluation conducted over an extended period of time to assess the sustainability, reliability, or performance of a product, service, or system under prolonged use.

Performance Effectiveness

A measurement of how well an individual or organization achieves its goals.

Operating Systems

Software that manages computer hardware and software resources, providing common services for computer programs.

Initial Integration

The process of incorporating new elements into a whole, particularly at the beginning stages of this integration.