Saylor Academy BUS101 Exam Questions
and Answers with Verified Solutions | Latest
Updated 2026
The total benefit to society from Social Benefit
producing or consuming a good or
service. Social benefit includes all
the private benefits plus any
external
benefits of production /
consumption. If a good has
significant external benefits, then
the
social benefit will be greater than
the
private benefit.
The belief that business is a Contract Theory
community of participants
organized
around a common purpose. These
participants have legitimate
interests
in how the business is conducted
and, therefore, they have
legitimate
rights over its affairs. Most
contract
theorists see the enterprise being
run by employees and managers
as a
kind of representative democracy.
,The purpose of a business is to Stakeholder Theory
create as much value as possible
for
stakeholders. In order to succeed
and be sustainable over time,
executives must keep the interests
of
customers, suppliers, employees,
communities and shareholders
aligned and going in the same
direction.
People are classified as Unemployed
unemployed
if they do not have a job, have
actively looked for work in the prior
4 weeks, and are currently
available
for work.
The main purpose of a business is Milton Friedman
to
maximize profits for its owners,
and
in the case of a publicly-traded
company, the stockholders are its
owners.
, The belief that sustainable Corporate Social Responsibility (CSR)
financial
returns are not possible without
taking into account the aspirations
and interests of other stakeholders
such as customers, employees,
society and the environment;
highlights the fact that business,
consumers and society are part of
a
shared ecosystem, and that the
long-
term health of this ecosystem must
be maintained above all else.
The belief that business can be Innovation as a goal
viewed to exist for the purpose of
creative expansion. Successful
firms
like Google manage to align their
activities towards the purpose of
creative expansion from the
perspective of all stakeholders,
especially employees. This also
validates the growing importance
of
innovation as a core principle for
corporation survival and success.
and Answers with Verified Solutions | Latest
Updated 2026
The total benefit to society from Social Benefit
producing or consuming a good or
service. Social benefit includes all
the private benefits plus any
external
benefits of production /
consumption. If a good has
significant external benefits, then
the
social benefit will be greater than
the
private benefit.
The belief that business is a Contract Theory
community of participants
organized
around a common purpose. These
participants have legitimate
interests
in how the business is conducted
and, therefore, they have
legitimate
rights over its affairs. Most
contract
theorists see the enterprise being
run by employees and managers
as a
kind of representative democracy.
,The purpose of a business is to Stakeholder Theory
create as much value as possible
for
stakeholders. In order to succeed
and be sustainable over time,
executives must keep the interests
of
customers, suppliers, employees,
communities and shareholders
aligned and going in the same
direction.
People are classified as Unemployed
unemployed
if they do not have a job, have
actively looked for work in the prior
4 weeks, and are currently
available
for work.
The main purpose of a business is Milton Friedman
to
maximize profits for its owners,
and
in the case of a publicly-traded
company, the stockholders are its
owners.
, The belief that sustainable Corporate Social Responsibility (CSR)
financial
returns are not possible without
taking into account the aspirations
and interests of other stakeholders
such as customers, employees,
society and the environment;
highlights the fact that business,
consumers and society are part of
a
shared ecosystem, and that the
long-
term health of this ecosystem must
be maintained above all else.
The belief that business can be Innovation as a goal
viewed to exist for the purpose of
creative expansion. Successful
firms
like Google manage to align their
activities towards the purpose of
creative expansion from the
perspective of all stakeholders,
especially employees. This also
validates the growing importance
of
innovation as a core principle for
corporation survival and success.
