Freidman Doctrine

Question 1

What is the main premise of the Friedman Doctrine?

Answer 1

The main premise is that a corporation’s primary responsibility is to its shareholders, and it should prioritize maximizing profits.

Question 2

True or False: The Friedman Doctrine supports corporate social responsibility as a primary objective.

Answer 2

False

Question 3

Fill in the blank: According to the Friedman Doctrine, the only social responsibility of a business is to increase its __________.

Answer 3

profits

Question 4

Which economist is associated with the development of the Friedman Doctrine?

Answer 4

Milton Friedman

Question 5

Multiple Choice: What is often criticized about the Friedman Doctrine?

Answer 5

It overlooks ethical considerations and the impact of business decisions on society.

Question 6

What year did Milton Friedman publish his famous essay outlining the Friedman Doctrine?

Answer 6

1970

Question 7

True or False: The Friedman Doctrine suggests that businesses have a duty to engage in charitable activities.

Answer 7

False

Question 8

What key concept does the Friedman Doctrine emphasize in relation to government intervention?

Answer 8

It emphasizes minimal government intervention in business operations.

Question 9

Short Answer: How does the Friedman Doctrine view the role of managers in corporations?

Answer 9

Managers should act in the interests of shareholders and focus on profit maximization.