Question 1 

University of Chicago Professor Milton Friedman famously said about social responsibility:

The social responsibility of business is to make money legally.

Big multinational corporations must solve all the social problems in the world.

Business is immoral for not helping out in the community.

When in Rome, do as the Romans.




Which of the following is a correct statement regarding the definition of corporate "social responsibility"?

In the interests of preserving personal freedom, the law in the United States codifies in detail social responsibility rules.

For a social responsibility analysis the acceptable standard for moral behavior is compliance with the legal law.

A minimum socially responsible standard for business is compliance with the law.

By law in the U.S., an employer typically is required to provide to the mayor of a local community where the employer does business a clear set of social responsibility standards and rules based on the values of the community.


Question 3

Social responsibility is best described as a company being:

Saintly in the moral sense

Helpful in a prudent manner in the community

Lawful only

Altruistic to all stakeholders.


Question 4

Commercial Products Company (CPC) markets its products nationwide. When making a decision, CPC should, in order to be a socially responsible firm, take into account the needs of

Consumers and employees

Owners and shareholders

Society and community


All of the above 

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