Profit Responsibility Refers to

question 5

Multiple Choice

Profit responsibility refers to

• A) the obligation of a firm to price its products or services at a level whereby the consumer is treated fairly and the firm is still able to make a profit.
• B) the view that an organization has an obligation to those who can affect the achievement of its objectives.
• C) the concept that no expansion or additional research and development will occur until a company is making a profit.
• D) the idea that organizations are part of a larger society and are accountable to that society for their actions.
• E) the duty of a firm to maximize profits for its owners or stockholders.

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Definitions:

Economic Self-sufficiency

The condition of being able to produce and maintain the consumption of goods and services without external assistance.

George Washington Carver

An American agricultural scientist and inventor who promoted alternative crops to cotton and methods to prevent soil depletion.

Agricultural Department

Governmental department responsible for the administration and regulation of policies related to agriculture, farming, and food production.

Tuskegee Institute

An historically black university in Alabama, founded by Booker T. Washington, to provide higher education and vocational training.