According to the _____ view of economics,a business is socially responsible if it maximizes profits while operating within the law.

Question

Quizplus · Accepted Answer

The classical view of economics, often associated with economists like Adam Smith, posits that the primary responsibility of a business is to its shareholders, and that the best way to fulfill this responsibility is by maximizing profits within the legal framework. This view suggests that by focusing on profit maximization, businesses contribute to the overall efficiency and wealth of society.

According to the _____ View of Economics,a Business Is Socially