The Rational Argument for Corporate Social Responsibility Is Summarized by the Iron

question 45

Multiple Choice

The rational argument for corporate social responsibility is summarized by the Iron Law of Social Responsibility, which states that ______.

• A)ultimately it is government, not business, that is responsible for a satisfying society
• B)responsibility for a just society is everyone's responsibility
• C)in a free society, discretionary abuse of societal responsibilities leads, eventually, to mandated reprisals
• D)concern for CSR must be the first priority of the courts

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Definitions:

Fixed Cost

Expenses that do not change with the level of output produced, such as rent, salaries, and insurance premiums.

Patent

A legal grant by a government to an inventor, giving the right to exclude others from making, using, or selling an invention for a certain number of years.

Fixed Cost

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance, remaining constant regardless of business activity volume.

Patent

A legal document granting an inventor exclusive rights to manufacture, use, or sell an invention for a certain number of years.