Which type of responsibility encompasses both legal and economic considerations for a company?

The choice focusing on corporate social responsibility is accurate because this concept integrates the legal and economic obligations of a company alongside its ethical expectations. Corporate social responsibility (CSR) emphasizes that a business should not only aim to be profitable and law-abiding but also contribute positively to society and the environment. This responsibility reflects the understanding that companies have stakeholders that extend beyond just shareholders, including employees, customers, communities, and the environment.

By adhering to CSR, businesses recognize their duty to operate within legal frameworks while also considering the broader economic impact of their operations. CSR encourages firms to be proactive in addressing social issues, leading to sustainable practices that benefit both the business and society at large. Thus, this type of responsibility acknowledges that companies are accountable not only for profits but also for the social consequences of their actions.