Social Responsibility

question 91

Multiple Choice

Social responsibility:

• A) Is a concern for the impact of our actions on society.
• B) Is a code that helps in dealing with confidential information.
• C) Is required by the SEC.
• D) Requires that all businesses conduct social audits.
• E) Is limited to large companies.

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Definitions:

Business Risk

The possibility of experiencing financial loss or failure inherent in operating a business.

Market System

A market system is an economic system in which decisions regarding investment, production, and distribution are based on supply and demand.

Circular Flow Model

An economic model that depicts how money and products move through an economy, showing the interactions between households and businesses.

Resource Markets

Markets where productive resources (like labor, capital, and raw materials) are bought and sold.