Question

Objectives offer ---------- justification for the existence of the business firm.
a) Economic b) Social c) Legal d) Human

Answer 1

Answer:

the answer is economic

Explanation:

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Answer 2

Objectives of economic justification for the existence of the business firm.

• Earning profit is the basic objective of every business firm. This is because every business needs to make a profit in order to survive in the market and pay off its debtors.
• Without earning profit the business form will go bankrupt and eventually close down.
• Businessman takes financial and other forms of risk with the expectation of falling profit.