Question

Match the correct pairs.

Group “A”		Group “B”
a.	Responsibility to owners	1.	Good working condition
b.	Consumers	2.	Branch of philosophy
c.	Responsibility to investors	3.	To serve society
d.	Economics objective	4.	To help small scale industry
e.	Business ethics	5.	Earning foreign exchange
		6.	Creating goodwill
		7.	Branch of social science
		8.	To earn profit
		9.	To maintain transparency
		10.	Good quality product

Answer 1

Group A		Group B
a.	Responsibility to owners	6.	Creating goodwill
b.	Consumers	10.	Good quality product
c.	Responsibility to investors	9.	To maintain transparency
d.	Economic objective	8.	To earn profit
e.	Business ethics	7.	Branch of social science

Explanations:

a. It is the responsibility of business units to create a good image in the public so that trust and respect for the organisation can be established in the share, labour and consumer markets.

b. Business units must ensure that the goods and services they are providing to customers are of good quality, as it is the ethical responsibility of business to provide high-quality goods and services to the customers. Business organisations should have a quality check department to ensure that no defective or low-quality product is sent for sale.

c. Investors provide capital for the effective running of a business. Thus, business units should maintain transparency about how the money of the investors is being utilised.

d. The prime objective of an organisation is to earn profit. As it deals with minimising costs and maximising the revenue, it is regarded as an economic objective. Its secondary objective is the welfare of people.

e. Business ethics is a branch of social science. It teaches us the concept of good and right, fair and unfair and justice and injustice. It includes a set of moral values that guide us to behave in a proper and well defined manner.