According to Milton Friedman, the Primary Goal of a Business

question 33

Multiple Choice

 According to Milton Friedman, the primary goal of a business is to

• A) satisfy customers.
• B) expand globally.
• C) make profits.
• D) provide employment.

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Definitions:

Price Level

A metric that calculates the mean of present prices for all goods and services produced within the economy, relative to a reference year.

Consumer Price Index

An index that measures the average change in prices paid by consumers for a basket of goods and services over time, often used as an indicator of inflation.

Bureau of Labor Statistics

A U.S. government agency responsible for collecting and analyzing economic data related to labor market activity, working conditions, and price changes in the economy.

Market Basket

A selected collection of goods and services used to track price changes for the purpose of measuring inflation.