Milton Friedman's Perspective Is That the Only Responsibility of a Business

question 15

Multiple Choice

Milton Friedman's perspective is that the only responsibility of a business is to

• A) provide social benefit for the messes.
• B) give jobs to the hard workers.
• C) pay taxes to keep the government operating.
• D) make money for its owners.

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Definitions:

Insurance Policy

A contractual agreement between an individual or entity and an insurance company, outlining the terms for the insurer to compensate the insured for specific losses in exchange for premiums paid.

Premium

An amount paid in addition to a standard price, often for insurance, or a higher or more privileged level of service or product.

Expected Value

A calculated average of all possible outcomes of a particular random variable, weighted by their respective probabilities.

Certain Income

Certain income refers to a guaranteed or fixed amount of earnings that an individual or entity can expect to receive over a period.