According to the ________ Argument on Social Responsibility, Businesses Should

question 108

Multiple Choice

According to the ________ argument on social responsibility, businesses should be socially responsible because responsible actions are the right thing to do.

• A) better environment
• B) ethical obligation
• C) public image
• D) greater good

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Definitions:

Absolute Advantage

Absolute advantage refers to an individual's, firm's, or country's ability to produce more of a good or service than competitors, using the same amount of resources.

Technology

The application of scientific knowledge for practical purposes, especially in industry.

Increasing Returns

A situation in economics where an increase in the scale of production leads to a more than proportionate increase in output, often due to efficiencies gained.

Trade Pattern

The general flow of import and export transactions between countries or regions.