Question

Arguments in favour of maximisation of profit : Experts like Joel Dean and Friedman are in favour of the goal of profit maximisation. According to Joel Dean, "Maximisation of profit is the chief social responsibility of management in a competitive economy." We can give the following arguments in favour of the maximisation of profit : (i) Profit is the reward of labour. (ii) Profit is the means of satisfaction of human needs. (iu) Profit is a measure of business efficiency. (iv) Profit is the base of business protection, growth and stability. (v) Profit is the base of social responsibilities. (vi) Profit is the base of exchange. (vii) Profit is an incentive. (viii) Profit is the cause of extension of various economies. Arguments against mayimistion of nrofit​

Answer 1

Answer:

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