The sole purpose of business is to maximize profits, according to the iron law of responsibility.

Name: The sole purpose of business is to maximize profits, according to the iron law of responsibility.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The iron law of responsibility states that businesses should balance profit-making with actions that benefit society, suggesting that the sole purpose of business is not just to maximize profits but also to fulfill social responsibilities.

The Sole Purpose of Business Is to Maximize Profits, According