​The Economic Model of Social Responsibility Holds That Society Will

question 211

Multiple Choice

​The economic model of social responsibility holds that society will benefit most when business is left alone to produce and market profitable products that society needs.This economic model is based on the notion that

• A) ​social responsibility is someone else's job.
• B) ​social responsibility is a privilege and duty of every business.
• C) ​social responsibility is a burden but should nonetheless be undertaken.
• D) ​social responsibility brings great benefits to the business that undertakes to act on it.

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Definitions:

Liquidation

is the process of bringing a business to an end and distributing its assets to claimants, often resulting from bankruptcy.

Divestiture

The process of selling off a business division, investment, or asset by a company, often as a strategy to focus on core operations, cut losses, or raise capital.

Acquisition

The process of one company purchasing most or all of another company's shares to gain control of that company.

Merger

The combination of two or more companies into a single entity, often to enhance competitiveness or expand market reach.