Social Responsibilities and Business Ethics
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The development of consumer education and mass media has made the consumer conscious of his/herMarks:1
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.
It is the society that helps a business toMarks:1
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.
Earning sufficient profits by a business isMarks:1
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.
It is not an example of business ethicsMarks:1
providing adequate stationery to employees.
Explanation:Providing adequate stationery to employees is not ethical but a normal business practice.
A feature of business ethics is that it isMarks:1
governed by a code of conduct.
Explanation:Business ethics is governed by a set of principles, i.e. code of conduct.