Business Studies Quiz - Social Responsibilities of Business and Business Ethics
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1. What is the primary focus of social responsibility in business?
Maximizing profits · Meeting legal obligations · Enhancing community welfare · Reducing operational costs
2. Which of the following is NOT a component of business ethics?
Integrity · Transparency · Profit maximization · Fairness
3. Which of the following best describes corporate social responsibility (CSR)?
Voluntary actions to improve community welfare · Mandatory compliance with laws · Maximizing shareholder wealth · Reducing taxes
4. What role do stakeholders play in business ethics?
They are only concerned with profits. · They influence ethical decision-making. · They have no impact on business practices. · They are solely customers.
5. Which principle emphasizes the importance of honesty in business dealings?
Accountability · Integrity · Transparency · Fairness
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