What Is the Social Responsibility of Business According to Milton

question 72

Multiple Choice

What is the social responsibility of business according to Milton Friedman?

• A)Protecting interests of the environment
• B)Protecting interests of all stakeholders
• C)Protecting interest to increase profits
• D)Protecting interests of shareholders

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Definitions:

Decentralization

The distribution of decision-making authority from central to local units or levels in an organization.

Separate Sales Forces

This refers to the practice of having distinct teams within a business that focus on selling different products, services, or targeting different markets.

Income From Operations

The earnings generated from a company's regular business activities, excluding any investment income or expenses unrelated to its core operations.

Service Department Expenses

Costs associated with the support departments of a company that do not directly contribute to the production of goods but are necessary for operations.