Question

why is a profit motive good for the society

Answer 1

ihjfs

Answer 2

People are selfish.

Answer 3

I think Profit making objective is good as it forces Firm to utilize Scarce resources efficiently ...

Of the topic >>Marketing People thinks that "Customer Satisfaction should be objective of Firm" ..... but why do a Firm needs a Satisfied Customer B'coz it wants its Customer for repeat Purchase .. so that Revenue increase but Customer satisfaction is a means to an end .. it got many link like ... Satisfied customer > Repeat purchase > Inc. in Revenue levels > Increase in Margins ... but the ultimate Objective of a firm is to Increase the Value of the Firm which turns out to be Increase the wealth of its stakeholders > in turn to Increase the stock price of the firm !!! .. Courtesy - Prof. Ashwath Damodaran Corporate Finance lectures :)

Answer 4

If they don't have profits, they go out of business (bankrupt).

Answer 5

if a society is profit motive it could be a capitalist society,therefore they can make money through there way and vice versa.but over all a profit motive society is good because there will be stability in it upto some extend.