The Theory of Maximizing Profits States That ________

question 57

Multiple Choice

The theory of maximizing profits states that ________.

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

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Definitions:

One-on-one Meetings

Private meetings between two individuals, often used for direct communication, feedback, or discussion of specific issues.

Gissel Bargaining Order

A remedy ordered by courts or labor boards requiring an employer to recognize and bargain with a union, typically after unfair labor practices have been committed.

Representation Election

A formal vote by employees to determine whether they wish to be represented by a union in dealings with their employer.

Iron Rule

A principle or law that is regarded as inexorably true, often associated with strict adherence to certain policies or procedures.