Milton Friedman Believed the Only _____ of a Business Is

question 105

Short Answer

Milton Friedman believed the only _____ of a business is to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game.

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Definitions:

Product Layout

An arrangement of machinery, equipment, and staff within a production facility where the workstations and equipment are ordered by the sequence of operations.

Basic Types

Fundamental categories or classifications within a broader system or concept.

Locations

Specific places or positions where businesses or activities are situated or conducted.

Businesses

Organizations engaged in commercial, industrial, or professional activities aimed at generating profits.