MCQ
Social responsibility is:
  • A
    same as a legal responsibility
  • B
    broader than legal responsibility
  • C
    Much lower than legal responsibility
  • D
    narrower than legal responsibility

Answer

(c) Licensing
Explanation:
Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copyrights in lieu of some fee.(b) broader than legal responsibility
Explanation:
Social responsibility is broader than the legal responsibility of business. It is a firm's recognition of social obligations even though not covered by the law, along with the obligations laid down by law.

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