Free Market Advocates Tend to Do All of the Following

question 28

Multiple Choice

Free market advocates tend to do all of the following EXCEPT:

• A)Argue that "the social responsibility of business is to increase its profits, which leads to efficient capital and product markets."
• B)Argue that all stakeholders have an equal right to bargain for a "fair deal."
• C) Believe that the first and foremost stakeholder group is shareholders.
• D) Argue that if firms attempt to attain social goals, managers will lose their focus on profit maximization.

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Definitions:

Inborn Ability

Natural talents or capacities that an individual possesses from birth, not acquired through learning or experience.

Adaptive Traits

Adaptive traits are characteristics that increase an organism's ability to survive and reproduce in particular environments.

Savant Syndrome

A rare condition where an individual with significant mental disabilities demonstrates profound and prodigious capacities or abilities in a specific area.

Cognitive Processing

The mental activities involved in the acquisition, storage, manipulation, and retrieval of information, encompassing processes such as perception, memory, and reasoning.