Which of the following is true of the four dimensions of social responsibility?
A) Legal and economic concerns have long been acknowledged in business, but voluntary and ethical issues are more recent concerns.
B) Organizations can fulfill their legal responsibilities only after they have fulfilled their voluntary responsibilities.
C) Political responsibilities of a firm are additional activities that may not be required but which promote human welfare or goodwill.
D) Complying with the law is the final step in the four stages of social responsibility.
E) Being profitable is not a social responsibility of businesses.
A) Legal and economic concerns have long been acknowledged in business, but voluntary and ethical issues are more recent concerns.
A) Legal and economic concerns have long been acknowledged in business, but voluntary and ethical issues are more recent concerns.
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Which of the following is true of antitrust laws?
A) Antitrust laws are fixed and unchangeable. B) Each new administration adopts a different policy for enforcing antitrust laws. C) Federal antitrust laws provide for government lawsuits and exclude private lawsuits from their purview. D) Treble damages cannot be sought in antitrust lawsuits.
Which of the following would be a demand and supply characteristic toward the beginning stages of a product's life cycle?
A) Demand has become more certain and supply is predictable. B) Margins are lower due to an increase in competitive pressure. C) Product availability is crucial to capturing the market. D) Price becomes a significant factor in customer choice.