Which of the Following Views Would Be Consistent with the Free

question 2

Multiple Choice

Which of the following views would be consistent with the free market ethics approach advocated by Milton Friedman?

• A)Outsourcing to other countries is wrong because it is detrimental to the overall US economy.
• B)When making decisions, corporate managers should consider the interests of all the corporation's stakeholders.
• C)The only social responsibility of business is to increase profits in a legal and ethical manner.
• D)Automating processes and replacing workers is unethical since it does not serve a greater good.

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Definitions:

Substitute for Wheat

A comparable alternative to wheat, such as barley, rice, or corn, used in various food products or for feed.

Invisible Hand Principle

A metaphor described by Adam Smith to illustrate how individuals pursuing their own self-interest can benefit society overall, as if guided by an unseen hand.

Allocation of Resources

The process of distributing available resources among various competing needs and uses to achieve desired objectives and outcomes.

Self-Interest

The action of working towards one's personal advantage, often considered a driving force behind economic decisions.