According to Milton Friedman, What Is the Social Responsibility of Business

question 74

Multiple Choice

According to Milton Friedman, what is the social responsibility of business?

• A)To increase profits
• B)To redistribute wealth
• C)To preserve the environment
• D)To spread capitalism
• E)To improve the quality of life

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Definitions:

Formal Mathematical Models

Theoretical frameworks that use mathematical expressions to represent and analyze complex systems or problems.

Tight Bureaucracy

A highly structured organizational form with strict rules, procedures, and hierarchy, emphasizing control and consistency.

Contingency Perspective

An approach suggesting that the best management practices depend on the circumstances of a situation or environment.

Predictable Environment

A setting or situation where changes and conditions can be anticipated with a high degree of certainty.