Answered: One of the drawbacks of Profit…

One of the drawbacks of Profit maximization is: a. It meets social needs b. It creates immoral practices c. None of these d. It ignores the time value of money

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Concept explainers

Lean Production

The word lean refers to the “slim “that is used in manufacturing for the systematic designing that focuses on minimizing the waste in the manufacturing or production with the constant productivity of the operation. Lean manufacturing was rooted from Toyota Production system a Japanese manufacturing company that works on the approach of minimizing the non-value-added activities and making the production lean.

Question

One of the drawbacks of Profit
maximization is:
a. It meets social needs
b. It creates immoral practices
c. None of these
d. It ignores the time value of
money

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