Which of the Following Best Describes the Trend in Social

question 7

Multiple Choice

Which of the following best describes the trend in social responsibility models used by companies?

• A) Most companies are changing from a socioeconomic approach to an economic approach to social responsibility.
• B) There has really been no pattern of change over the last century because most companies take a socioeconomic approach.
• C) There has been a sporadic shift back and forth between the economic and socioeconomic model as the best business solution.
• D) Relatively little transformation has left the economic model as the philosophy for most businesses.
• E) More companies have been bypassing the economic model in favor of the socioeconomic model in recent years.

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Definitions:

Savings Account

A bank account where money is kept for savings purposes, offering interest on the deposited funds.

Precautionary Cash Balances

Precautionary cash balances refer to money held by both businesses and individuals to meet unexpected expenses or financial emergencies.

Unexpected Expenditures

Expenses that were not planned or budgeted for, often requiring immediate payment.

Risk-Averse

A description of an investor or decision-maker who prefers to minimize uncertainty or potential loss, favoring safer over riskier options.