Milton Friedman's Basic Position Is That the Only Social Responsibility

question 63

True/False

Milton Friedman's basic position is that the only social responsibility of business is to increase profits, so long as the company stays within the rules of law.

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Definitions:

Social-Cognitive Perspective

A psychological approach emphasizing the importance of observational learning, self-efficacy, situational influences, and cognitive processes in behavior.

Individual Traits

Unique characteristics, qualities, or attributes that distinguish one person from another.

Social World

The domain of human interactions and relationships, encompassing the social structures and processes that organize society.

Projective Test

A type of personality assessment in which a person responds to ambiguous stimuli, revealing hidden emotions and internal conflicts.