Social Responsibilities and Business Ethics

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  • Q1

    The development of consumer education and mass media has made the consumer conscious of his/her

    Marks:1
    Answer:

    rights and power in market forces.

    Explanation:
    The development of consumer education, mass media and increasing competition has made the consumers conscious of their rights and power in determining the market forces.
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  • Q2

    It is the society that helps a business to

    Marks:1
    Answer:

    exist and grow.

    Explanation:
    No business can be done in isolation from the society. It is the society that allows business firms to exist and grow.
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  • Q3

    Earning sufficient profits by a business is

    Marks:1
    Answer:

    an economic responsibility.

    Explanation:
    A business organisation is an economic entity. Therefore, it is the economic responsibility of the business to earn sufficient profits for its existence and growth.
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  • Q4

    It is not an example of business ethics

    Marks:1
    Answer:

    providing adequate stationery to employees.

    Explanation:
    Providing adequate stationery to employees is not ethical but a normal business practice.
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  • Q5

    A feature of business ethics is that it is

    Marks:1
    Answer:

    governed by a code of conduct.

    Explanation:
    Business ethics is governed by a set of principles, i.e. code of conduct.
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