Discussion 1
1. According to Milton Friedman, "Business has only one social responsibility - to make profits (as long as it stays within the legal and moral rules of the game established by society). Few trends could so thoroughly undermine the very foundations of our society as the acceptance by corporate officials of a social responsibility other than to make as much money for their stockholders as possible." Explain why you agree or disagree with such a statement.
2. What is the difference between unethical and unlawful behavior? Please provide examples for both behaviors in your discussion.
Requirements
• Must be at least 400 words minimum.
• 1-2scholarly citation per question in current APA format.
• All key components covered.
• Good examples (pertinent, conceptual, or personal examples are acceptable).
• Thoughtful analysis (considering assumptions, analyzing implications, comparing/contrasting concepts).
• Proper spelling and grammar are used.
Textbook
Froeb, L. M., McCann, B. T., Ward, M. R., & Shor, M. (2016). Managerial economics: A problem solving approach (4th ed.). Boston, MA: Cengage Learning. ISBN: 9781305259331.
Salvatore, D. (2015). Managerial economics in a global economy (8th ed.). New York, NY: Oxford University Press. ISBN: 9780199397129.
Salvatore, D. (any year). Schaum's outlines of microeconomics (Any ed.). New York, NY: McGraw-Hill.