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An organisation sets a fair price for its product so that customers are not exploited. Which objective of management does this reflect?

Answer and explanation

Correct answer: Social objective

Providing products at a fair price and protecting customers from exploitation are parts of the social objective of management. Earning profit may be necessary for organisational success, but the stated purpose here is to protect customer interests; therefore, option A is correct. In exams, actions related to the welfare of customers, employees and society are generally classified under social objectives.

Related tags

Social-ObjectivesFair-PriceCustomer-ProtectionObjectives-Of-ManagementObjectives Of ManagementNature And Significance Of ManagementBusiness StudiesClass 12 Mcq

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