Free market advocates tend to do all of the following EXCEPT:
A)Argue that "the social responsibility of business is to increase its profits, which leads to efficient capital and product markets."
B)Argue that all stakeholders have an equal right to bargain for a "fair deal."
C) Believe that the first and foremost stakeholder group is shareholders.
D) Argue that if firms attempt to attain social goals, managers will lose their focus on profit maximization.

Question

Quizplus · Accepted Answer

Free market advocates prioritize the profit maximization of businesses and the interests of shareholders, often at the expense of other stakeholder groups such as workers, consumers, and the community. Therefore, they do not typically argue that all stakeholders have an equal right to bargain for a fair deal, as this would challenge the primacy of shareholder interests.

Free Market Advocates Tend to Do All of the Following