Question

chapter 1 review | test your

1. what is the role of business in society?

Explanation:

Business plays several core roles in society: it supplies goods and services to meet consumer needs, creates job opportunities to reduce unemployment and support household incomes, drives economic growth through investment and innovation, generates tax revenue for public services like education and infrastructure, and increasingly takes on social responsibilities such as environmental sustainability and community development.

Answer:

The role of business in society includes:

1. Supplying needed goods and services to consumers.
2. Creating employment opportunities for workers.
3. Driving economic growth via innovation and investment.
4. Generating tax revenue for public infrastructure and services.
5. Fulfilling corporate social responsibilities, such as environmental stewardship and community support.