The Triple Bottom Line Philosophy Says That

question 34

Multiple Choice

The triple bottom line philosophy says that:

• A)companies should pay three times as much attention to profits than to employee wellbeing.
• B)the main goal of all companies is to satisfy the needs of three groups: employees, shareholders, and suppliers.
• C)business success increases by having three times more contingent workers than permanent employees.
• D)companies should pay attention to local, national, and global customers.
• E)companies should try to support the economic, social, and environmental spheres of sustainability.

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Definitions:

Centrally Planned Economy

An economic system where the government or central authority makes all decisions regarding the production and distribution of goods and services, often found in socialist or communist countries.

Government Sets Prices

A situation where the government determines the selling prices of goods and services, often to stabilize the economy or ensure affordability.

Market Economy

An economic system in which production and prices are determined by unrestricted competition between privately owned businesses.

Karl Marx

A 19th-century philosopher, economist, and political theorist known for his critical analysis of capitalism and his contributions to the foundation of socialism and communism.