Social Responsibilities of Business and Business Ethics

Which statement best summarizes the relationship between social responsibility and business ethics?

1. They are completely unrelated concepts.
2. Social responsibility focuses on obligations to society, while business ethics guide moral business behaviour.
3. Business ethics only apply to government organizations.
4. Social responsibility reduces business profits permanently.

Why should businesses avoid misleading advertisements?

1. They increase ethical standards.
2. They violate customer trust and business ethics.
3. They reduce production costs.
4. They improve product quality.

Which of the following is an objective of business ethics?

1. Encouraging corruption
2. Building trust among stakeholders
3. Promoting false advertising
4. Avoiding customer complaints

Which concept encourages businesses to protect society while earning profits?

1. Monopoly
2. Social Responsibility
3. Tax Evasion
4. Price Discrimination

Which of the following is NOT a social responsibility of business?

1. Protecting consumer interests
2. Conserving the environment
3. Producing unsafe products knowingly
4. Employee welfare

Which of the following is a responsibility of business toward investors?

1. Hiding financial information
2. Providing fair returns and accurate information
3. Refusing dividend payments without reason
4. Ignoring shareholder rights

Which stakeholder expects timely payment of taxes?

1. Government
2. Customers
3. Employees
4. Suppliers

Which of the following is an example of ethical business practice?

1. Selling expired products
2. Honest advertising and truthful information
3. Tax evasion
4. Giving false guarantees

Business ethics refers to:

1. Ignoring moral values in business.
2. Principles of right and wrong that guide business behaviour.
3. Maximizing profits at any cost.
4. Avoiding legal compliance.

Why is social responsibility important for business?

1. It reduces customer trust.
2. It improves goodwill and long-term success.
3. It increases unethical practices.
4. It eliminates profits completely.

Which of the following is an environmental responsibility of business?

1. Increasing pollution
2. Conserving natural resources and controlling pollution
3. Ignoring waste management
4. Cutting forests unnecessarily

Which of the following is a responsibility of business towards employees?

1. Selling low-quality goods
2. Providing safe and healthy working conditions
3. Avoiding payment of salaries
4. Ignoring employee welfare

Which stakeholder expects quality products at reasonable prices?

1. Employees
2. Customers
3. Government
4. Creditors

Which of the following is the primary objective of business?

1. Charity only
2. Earning profit while fulfilling social responsibilities
3. Eliminating competition
4. Avoiding customer satisfaction

What is meant by the social responsibility of business?

1. Maximizing profits only
2. Producing goods without considering society
3. Business obligation to protect and promote the welfare of society along with earning profits
4. Avoiding legal responsibilities