Business organization cannot contribute to raise standard of living of society.

Question

State with reason whether the following statement is true or false. 

Business organization cannot contribute to raise standard of living of society. 

Options 

• True 
• False

Answer 1

Business organisation cannot contribute to raise the standard of living of society. False 

Explanation: 

Business organisations can help in raising the standard of living of people by conducting welfare activities like improving infrastructure (building roads and dams), educating society on technological advancement, raising voice against social evils of society like child labour, dowry and female infanticide and providing high-quality goods and services to their customers.