The idea that business people should consider the social consequences of economic actions when making business decisions and that there should be a presumption in favor of decisions that have both good economic and social consequences is known as ___.

The correct answer is letter "A": social responsibility.

Explanation:

Social responsibility refers to all the efforts a company makes to handle business protecting the surrounding environment where its headquarters is located, training employees in ethical behavior inside and outside the firm, and engaging charitable activities to help people in need of the community.  

Most companies implementing social responsibility have a better corporate image in the eyes of consumers who are likely to purchase their goods, eventually, benefiting the institution.