Describe the potential ethical problems with Milton Friedman’s economic philosophy.
What will be an ideal response?
As described by ethicist Brian Schaefer, Friedman’s narrow focus on a manager’s
duty to shareholders can lead to behavior that runs counter to all the major influential moral theories of modern civilization. Pollution offers one example. If following Friedman’s belief that a manger should only seek to maximize profits for shareholders and act legally, then a company might reject even a mild expense to limit pollution even though it would be ethical to do so. A company might also go to extreme lengths to legally move money offshore to avoid a tax burden, even though that damages its host country. Finally, maximizing profits above all else could lead a company to act directly counter to the needs and interests of consumers, hurting them even though actions may be legal.
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Which one of the following is an investing activity on the statement of cash flows?
a. Collection of accounts receivable b. Purchase of long-term investments c. Receipt of interest d. Receipt of dividends
Which of the following is NOT one of a wholesaler's typical channel functions?
A) financing B) simplifying product flows between producers and customers C) simplifying information flows between producers and customers D) off-price retailing E) storing goods
Lisa buys a used car from Kelly. She pays 10 percent of the cost down and signs a negotiable promissory note promising to pay Kelly the remainder of the purchase price, with interest, in 12 equal monthly installments
At the time of sale, Kelly lied about the mileage of the automobile. Later, Kelly negotiated the note to Frances, who has no notice of the lie. Frances, a holder in due course (HDC), negotiated the note to Zoe, who is not an HDC. Which of the following is Zoe in regards to the promissory note? A) a holder in due course B) a holder C) an assignee D) an assignor
A commentator will record and comment on group processes/dynamics, while a(n) ________ will evaluate the quality of group processes.
A. compromiser B. evaluator C. standard setter D. encourager E. orienter