Does the following statement describe actions taken in self-interest or actions
ID: 1224199 • Letter: D
Question
Does the following statement describe actions taken in self-interest or actions that serve the social interest or both? Sam Walton (owner of Wal-Mart) has brought low prices to small cities.
A.
Sam WaltonSam Walton's
action is neither serving the social interest nor taken in self-interest.
B.
Sam WaltonSam Walton
is serving the social interest but not self-interest.
C.
Sam WaltonSam Walton's
action is taken
in bothin both
self-interest
and inand in
the social interest.
D.
Sam WaltonSam Walton's
action is taken
inin
self-interest
but not inbut not in
the social interest.
Explanation / Answer
It is C. The action is taken both for self-interest and social interest.
Bringing low prices to small cities is a strategy of selling products, since people in these cities might have lower income. Therefore, this is the self-interest of the owner for growing business there. On the other side such strategy helps those people, since they can afford to buy products at lower price. This is the social interest, which the owner fulfills.
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