What Is "Maximizing Profits" as a Social Responsibility Theory in Business

question 32

Multiple Choice

What is "maximizing profits" as a social responsibility theory in business?

• A)The theory that a corporation must consider the effects its actions have on persons other than its shareholders.
• B)The theory that a corporation's duty is to make a profit while avoiding causing harm to others.
• C)The theory that a corporation owes a duty to take actions that increases profits for shareholders.
• D)The theory that a business has a responsibility solely to its stakeholders that other than shareholders.

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Definitions:

Gilded Age

A period in the late 19th century in the United States characterized by rapid economic and industrial growth, along with significant social inequality and political corruption.

Old Country

often used to refer to the original homeland of immigrants or their ancestors, especially in a nostalgic or affectionate manner.

Immigrants

Individuals who move from one country to another with the intention of settling in the new country, often in pursuit of better opportunities, safety, or family reunion.

Gilded Age

A term that describes the late 19th century in the United States, a period marked by rapid economic growth, industrialization, and ostentatious displays of wealth.