Balancing Business and Society

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Questions and Answers

What is the primary objective of a business firm?

  • To supply goods and services to the people
  • To interpret the expectations of society
  • To earn profit (correct)
  • To adjust to the preferences or values of society

What may cause conflict between the individual goals of a business firm and the objectives of society?

  • The economic performance of the firm
  • The social performance of the firm
  • The decisions and actions of human beings (correct)
  • The preferences or values of society

What is the subject matter of ethics according to the text?

  • The preferences or values of society (correct)
  • The linkages between business and society
  • The social performance of business enterprises
  • The economic performance of business enterprises

From the social point of view, why does business exist?

<p>To supply goods and services to the people (C)</p> Signup and view all the answers

What may cause conflict between the individual goals of a business firm and the objectives of society?

<p>Human decisions and actions (C)</p> Signup and view all the answers

What is the primary objective of a business firm?

<p>To earn profit (C)</p> Signup and view all the answers

Why is it important to answer the question of what is right or wrong from society's point of view?

<p>To interpret and adjust to the preferences or values of society (C)</p> Signup and view all the answers

What is the subject matter of ethics?

<p>Establishing linkages between ethics and society (D)</p> Signup and view all the answers

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