Social Responsibility of Business Quiz-1

A business has an economic responsibility to __________.

• maximize profits

• reduce costs

• increase employee satisfaction

• enhance customer loyalty

What are the legal responsibilities of businesses?

• Compliance with laws

• Ethical practices

• Financial reporting

• All of the above

Ethical responsibility in business refers to the obligation of companies to act in a manner that is __________ to society and the environment.

• beneficial

• harmful

• indifferent

• exploitative

Fill in the blank: Some examples of undesirable practices from the point of view of society include __________.

A business fulfills the needs of society by providing __________.

• goods and services

• nothing

• only services

• only goods

What is the relationship between business and society __________.

• interconnected

• independent

• isolated

• competitive

If a business is making significant profits, it should _____.

• reinvest in the business

• distribute all profits to employees

• ignore the profits

• reduce prices for customers

Businesses can help different groups in society by _____.

• A) By providing job opportunities

• B) By donating to charities

• C) By offering discounts to specific groups

• D) All of the above

From the employees' point of view, why is social responsibility important?

• It improves employee morale.

• It enhances the company's reputation.

• It fosters a sense of community.

• It encourages employee engagement.

How does social responsibility influence customer practices?

• Increases customer loyalty

• Decreases product quality

• Reduces marketing effectiveness

• Has no impact on sales