The Idea That Organizations Are Part of a Larger Society

question 59

Multiple Choice

The idea that organizations are part of a larger society and are accountable to that society for their actions is referred to as

• A) stakeholder responsibility.
• B) social responsibility.
• C) profit responsibility.
• D) utilitarianism.
• E) moral idealism.

---

Definitions:

Price Support Program

Government interventions to maintain the market price of a commodity or product above its equilibrium level.

Private Buyers

Individuals or entities that purchase goods or services for personal use or for a private collection, not for resale or commercial purposes.

Parity Ratio

A measure used to compare the price or value of one thing to another, often in agriculture to compare prices of farm products to other goods and services over time.

Parity Price

Parity price is a price level that ensures farmers receive a relative value for their commodities comparable to the purchasing power of a certain base period.