UNC BUSI 100 Readings Exam.
The Republic Plato By Plato - CORRECT ANSWER - The fundamental key to in the development of an economy is more things are produced and better and more easily when one man performs one task according to nature at the right moment and at leisure from other occupations
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UNC BUSI 100 Readings Exam.
The Republic Plato By Plato - CORRECT ANSWER - The fundamental key to in the development of an
economy is more things are produced and better and more easily when one man performs one task
according to nature at the right moment and at leisure from other occupations
- By directing that industry in such a manner as its produce may be of the greatest value he intends only
his own gain and he is in this led by an invisible hand to promote an end which was no part of his
intention
- To form a functioning society there is a list of tradeoffs
- True creator is necessity
- State arises out of the needs of mankind
Walden by Thoreau - CORRECT ANSWER - Books are the choices of relics
- A classic is a book that people praise but don't read
- The works of the great poets have never yet been read by mankind, for only great poets can read them
- Pursuit of truth
- Material wealth is petty and fleeing
- Learn ancient languages to read the classics
- Townsmen to read for the sake of themselves and their business, not for literature
An Inquiry into the Nature and Causes of the Wealth of Nations by Adam Smith - CORRECT ANSWER -
Invisible hand: self interest is an invisible force that drives our economy
- Division of labor
- Our individual need to fulfill self interests results in societal benefit
, The Social Responsibility of Business is to Increase its Profits by Milton Friedman - CORRECT ANSWER -
The manager is the agent of the individuals who own the corporation and her primary responsibility is to
them
- Production of pencils
- Only make money for the sake of shareholders
- Maximize profits for their shareholders
- No social responsibility beyond generating a profit
- Social or environmental concerns are the government and individual problem to solve
- Think of medicine drug company guy ( bad man )
The Gospel of Wealth by Andrew Carnegie - CORRECT ANSWER - The poor can now enjoy what the rich
could not afford
- Great wealth comes great responsibility, give back to society
- Historical mode of manufacturing is to produce crude articles at high prices
- Administer wealth while alive for the better of society
- Mutual ignorance = mutual distrust
- Millionaire is the trustee for the poor, they administer their wealth for the community better to they
could have done itself
- The problem of rich to poor is still not solved
Atlas Shrugged by Ayn Rand - CORRECT ANSWER - Money is symbolic of a society's moral values
- Money is a living power that dies without its roots, money will not serve the mind that cannot match it
- People should be free to pursue their own goals w/o interference from the gov
- Individuals should be free to engage in trade based on self interest
- Happiness > success
- Money is only made possible by the men who produce it
- Root of evil isn't money but those who rule production
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