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Question
Business produces goods and supplies the goods that are required for the development of a nation. This forms a part of ______ objective of the business.
Business produces goods and supplies the goods that are required for the development of a nation. This forms a part of ______ objective of the business.
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Solution
The correct option is C Social
Social objective are those objectives of business, which are desired to be achieved for the benefit of the society. Since business operates in a society by utilizing its scarce resources, the society expects something in return for its welfare.Management is responsible for setting and achieving objectives for the organisation. The main objective of any organization should be to utilise human and material resources to the maximum possible advantage, i.e., to fulfill the economic objectives of a business.
Social objective are those objectives of business, which are desired to be achieved for the benefit of the society. Since business operates in a society by utilizing its scarce resources, the society expects something in return for its welfare.
Management is responsible for setting and achieving objectives for the organisation. The main objective of any organization should be to utilise human and material resources to the maximum possible advantage, i.e., to fulfill the economic objectives of a business.
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