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According to Milton Friedman's perspective, what is the primary social responsibility of a business?
  • a)
    To maximize profits for shareholders.
  • b)
    To promote environmental sustainability.
  • c)
    To provide charity and philanthropic activities.
  • d)
    To ensure employee well-being.
Correct answer is option 'A'. Can you explain this answer?
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According to Milton Friedman's perspective, what is the primary social...
Milton Friedman believed that the primary social responsibility of a business is to maximize profits for its shareholders. He argued that a business's sole purpose is to generate profits within the framework of the law.
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According to Milton Friedman's perspective, what is the primary social responsibility of a business?a)To maximize profits for shareholders.b)To promote environmental sustainability.c)To provide charity and philanthropic activities.d)To ensure employee well-being.Correct answer is option 'A'. Can you explain this answer?
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