Given That a Firm's Profit Is High Enough for It

question 146

Multiple Choice

Given that a firm's profit is high enough for it to remain in business,an objective may be to ________,which will in turn lead to increases in market share and profit.

• A)increase the commitment to social responsibility
• B)increase dollar sales revenue
• C)decrease unit volume while maintaining price
• D)increase research and development funding for new product line extensions
• E)continue with previous policies that seem to be working

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Definitions:

Economic Responsibility

The obligation of organizations to make decisions that positively impact the economic environment in which they operate, including considerations of sustainability and ethical business practices.

Socially Responsible Corporate Behaviour

Acts by businesses that go beyond economic and legal expectations to positively impact society and the environment.

Economic Responsibility

An entity's accountability for its impact on economic systems, including sustainable financial practices and contributions to economic development.

Goods and Services

Denote the tangible products and intangible offerings that fulfill the needs or wants of consumers, provided by businesses or individuals.