Milton Friedman Said: ''There Is One and Only One Social

question 116

Multiple Choice

Milton Friedman said: ''There is one and only one social responsibility of business-to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game,which is to say that it engages in open and free competition without deception or fraud." This demonstrates that he:

• A)equates ethical behavior with social responsibility.
• B)argues against ethical behavior for businesses.
• C)advocates social responsibility for businesses.
• D)states that businesses should behave in an ethical manner.

Examine how momentary choices and overall patterns of responses are influenced by reinforcement size, quality, and availability according to the matching and maximizing laws.

Understand the evolution of communication models from simple to complex.

Recognize the importance of context in effective communication.

Identify the roles of sender and receiver in the communication process.

---

Definitions:

Trust

A firm belief in the reliability, truth, ability, or strength of someone or something, often considered fundamental in social, economic, and political relationships.

Government

The governing body of a nation, state, or community, charged with directing and administering public policy and affairs.

Americans

Citizens of the United States of America or individuals associated with the country through residency, culture, or heritage.

Utility

The total satisfaction received from consuming a good or service; often used in economic analysis to understand consumer behavior.