Question

what are the arguments that you can put forward against ' profit maximisation'?​

Answer 1

Explanation:

Step-by-step explanation:

Step-by-step explanation:

Explanation:

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Profit maximization is the most important assumption, which helps the economists to introduce the price and production theories. The traditional economic theory assumes that the profit maximization is the only objective of business firms. According to this theory, profits must be earned by business to provide for its own survival, coverage of risks, growth and expansion. It is a necessary motivating force and it is in terms of profits that the efficiency of a business is measured. It forms the basis of conventional price theory. Profit maximization is regarded as the most reasonable and analytically the most productive business objective.

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