In the Business World, What Does Social Responsibility Refer To

question 125

Multiple Choice

In the business world, what does social responsibility refer to?

• A) attempts to earn the highest possible return for the owners of a business
• B) the obligation to obey the law
• C) the obligation of a business organization to contribute to society
• D) decisions individuals make about what is right and wrong

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Definitions:

Repackage

To change the packaging of a product, potentially to refresh the brand image, improve functionality, or target a different consumer segment.

FDIC

The Federal Deposit Insurance Corporation, a United States government corporation providing deposit insurance to depositors in U.S. commercial banks and savings institutions.

Bank Panics

Situations where many bank clients simultaneously take out their funds because they're afraid the bank might go bankrupt.

Federal Government

The central government of a federated country, such as the United States, which shares power with constituent states or provinces.