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Objectives of firm and social responsibilities

Quiz by Kavitha N V PSGRKCW

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10 questions
Show answers
  • Q1
    What are the objectives of a firm?
    Increasing market share
    Maximizing profit
    All of the above
    Providing quality products
    All of the above
    30s
  • Q2
    What is social responsibility?
    The responsibility of individuals to give back to their community
    The ethical obligation of a business to act in the best interests of society
    The legal obligation of a business to follow government regulations
    The ethical obligation of a business to act in the best interests of society
    The sole focus on maximizing profit
    30s
  • Q3
    What is the primary objective of a firm?
    Increasing market share
    Minimizing costs
    Maximizing profit
    Providing quality products
    Maximizing profit
    30s
  • Q4
    What is a social responsibility of a firm?
    Minimizing negative environmental impact
    Maximizing profit
    Increasing market share
    Reducing employee wages
    Minimizing negative environmental impact
    30s
  • Q5
    What is the purpose of corporate social responsibility?
    To increase market share
    To maximize shareholder profits
    To contribute to social and environmental well-being
    To reduce production costs
    To contribute to social and environmental well-being
    30s
  • Q6
    What is the role of a firm in society?
    Generating employment opportunities
    Providing goods and services to meet societal needs
    Contributing to economic growth
    All of the above
    All of the above
    30s
  • Q7
    Why is it important for firms to act socially responsible?
    To avoid legal penalties
    To maximize profit at any cost
    To gain market dominance
    To build trust and reputation
    To build trust and reputation
    30s
  • Q8
    What is the concept of stakeholder theory?
    Firms should consider the interests of all stakeholders in their decision-making
    Firms should prioritize the interests of shareholders above all
    Firms should consider the interests of all stakeholders in their decision-making
    Firms should focus on maximizing profit at any cost
    Firms should only consider the interests of customers
    30s
  • Q9
    What is the triple bottom line concept?
    Focusing solely on economic factors in business decision-making
    Maximizing shareholder value through profit-making
    Minimizing social and environmental impacts in business operations
    Taking into account social, environmental, and economic factors in business decision-making
    Taking into account social, environmental, and economic factors in business decision-making
    30s
  • Q10
    What is the purpose of a mission statement for a firm?
    To define the organization's goals, values, and purpose
    To increase market share
    To reduce production costs
    To maximize shareholder profits
    To define the organization's goals, values, and purpose
    30s

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