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What is the main argument of economist Milton Friedman regarding a company's social responsibility?
  • a)
    Companies should maximize profits and address society's needs and challenges
  • b)
    Companies should put the customer first and increase customer happiness
  • c)
    Companies should redistribute wealth and maximize profits
  • d)
    Companies should focus solely on increasing profits
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
What is the main argument of economist Milton Friedman regarding a com...
The main argument of economist Milton Friedman is that companies should focus solely on increasing profits. According to Friedman, the one and only social responsibility of a business is to maximize its profits, assuming there is an honest and open marketplace. He believes that companies do not bear any additional responsibility toward society beyond this goal.
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What is the main argument of economist Milton Friedman regarding a company's social responsibility?a)Companies should maximize profits and address society's needs and challengesb)Companies should put the customer first and increase customer happinessc)Companies should redistribute wealth and maximize profitsd)Companies should focus solely on increasing profitsCorrect answer is option 'D'. Can you explain this answer?
Question Description
What is the main argument of economist Milton Friedman regarding a company's social responsibility?a)Companies should maximize profits and address society's needs and challengesb)Companies should put the customer first and increase customer happinessc)Companies should redistribute wealth and maximize profitsd)Companies should focus solely on increasing profitsCorrect answer is option 'D'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the main argument of economist Milton Friedman regarding a company's social responsibility?a)Companies should maximize profits and address society's needs and challengesb)Companies should put the customer first and increase customer happinessc)Companies should redistribute wealth and maximize profitsd)Companies should focus solely on increasing profitsCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the main argument of economist Milton Friedman regarding a company's social responsibility?a)Companies should maximize profits and address society's needs and challengesb)Companies should put the customer first and increase customer happinessc)Companies should redistribute wealth and maximize profitsd)Companies should focus solely on increasing profitsCorrect answer is option 'D'. Can you explain this answer?.
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