Multiple choice

Which of the following statements is/are incorrect? a. Business functioning is ultimately judged on the basis of their serving social needs. b. Social interest and business interest are not contradictory. c. The earlier approach of Caveat Emptor has changed as a result of labour movements.

  1. Only a

  2. Only b

  3. Only c

  4. Only a and b

  5. Only a and c
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

This is the correct option, as this statement is incorrect. Caveat Emptor means buyer beware and it has now changed due to consumer consciousness, as businesses are now following consumer oriented policies. It is not due to labour movements.

Keep practicing — related questions