BUS 1050 Quiz 1 Study Questions
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Philosophy
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Apr 3, 2024
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Columbus must _________ to ensure that his entrepreneurial mission will have a chance for success:
A. Get access to capital
B. Get access to labor
C. Get access to land
D. Both A and C
E. A, B, AND C
In his first mission, Columbus engages in which of the following:
A. Partnership
B. Market development
C. Capitalization of a business
D. Both B and C
E. A, B, AND C
Seen through the lens of contemporary business, the following best describes Columbus:
A. Manager
B. CEO
C. Stockholder
D. BOTH A AND B
E. Both A and C
When Faust is confronted by the phantom called CARE (WORRY), she criticizes him for his behavior. He admits that, while he may not have accomplished all that he set out to do, the pursuit of his particular business was worth it because it still provided an environment for:
A. IMPRESSIVE ACHIEVEMENT
B. high productivity
C. meaningful work
D. eternal salvation
E. all the above
Faust’s project might fit into what we call “conscious capitalism” because
A. HE WANTS TO ENGAGE IN A PROJECT THAT HELPS PEOPLE DEVELOP, OR IMPROVE, THEM-
SELVES
B. He wants to engage in a project that allows him to embrace a spiritual theology
C. He wants to engage in a project that eliminates profit as a motive for modern business development
D. A and B
E. A, B, and C
The Columbus-Taino partnership is explicit: The Taino Indians will be punished if they don’t find gold.
True or False
FALSE
The business mindset of Columbus causes him to say of the Taino Indians “they are fit to be ordered about and made to work, plant, and do everything else.” It is clear, from this first voyage quote and other textual evidence, that he views Indians as:
A. Slaves
B. Producers (labor)
C. “Joint Venture partners
D. Both A and B
E. BOTH B AND C
Which, if any, of the following behaviors suggest that Columbus practiced a kind of business imperialism:
A. Extracting gold without returning anything in kind
B. Creating a labor force out of the Taino Indians without their explicit consent
C. DECLARING THE CARIBBEAN BASIN AS SPAIN’S TERRITORY AND USING IT FOR THE EX-
TRACTION OF WEALTH
D. Both A and B
E. Both B and C
_______ said that capitalism and freedom represent “the end of history.”
A. Comte
B. Fourier
C. FUKUYAMA
D. Mannheim
E. Friedman
Karl Mannheim identified in merchants, before and during the Revolutionary War, which of the follow-
ing?
A. A desire to achieve greater freedom of faith
B. A DESIRE TO MAKE MORE MONEY
C. A desire to work fewer hours
D. A desire to pay a lower tax rate to the British
E. A desire to end subsidization of competitive British businesses
Comte and Fourier were French socialists who believed that technology was the key to ending scarcity and creating abundance.
True or False
TRUE
Hegel's dialectic supports the idea that history has an economic purpose and Fukuyama says that pur-
pose has been achieved in global capitalism.
True or False
TRUE
Columbus’ first voyage is more about market development than penetration.
True or False
FALSE
When Columbus reports back to the monarchy by way of his journal, he suggests that extraction of gold should be accompanied by investments in agriculture and cattle to the Taino Indians.
True or False
TRUE
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Columbus, as a visionary, is the CEO of what we might call THE NEW WORLD COMPANY--it is clear, how-
ever, that he is not attempting to be the manager, as well.
True or False
FALSE
The Columbus mission produces a partnership agreement between Columbus (Spain) and the Taino Indi-
ans. Creating business partnerships becomes the norm of Spanish conquest in the 15th and 16th
True or False
FALSE
Scarcity theory, as played out by Nintendo in the early 1990’s was more about ensuring demand than it was about finding a justification for raising price for the “GameBoy.”
True or False
TRUE
Faust discovers that to find his “spirit” he must never be satisfied with any endeavor—even his new kind
of “conscious capitalist” development project—so, for him, spirit and achievement are, pretty much, the
same thing.
True or False
TRUE
Columbus imposes this rule: exchange is the only means by which the crew will engage the Taino Indi-
ans. If the crew wants something, they must offer something in exchange. True or False
TRUE
Columbus concludes, at the end of his stay on Hispaniola, that he made a mistake in choosing a partner--
that the Caniba, despite their cannibalism, would have been better partners.
True or False
FALSE
When studying Faust, we watched a video about conscious capitalism. In that video, Professor Haycock said that a big company can practice conscious capitalism just as easily as a small company.
True or False
FALSE
GDP equals total dollar value of goods sold minus a country’s debt.
True or False
FALSE
For Goethe, "old world" values are "spiritual" values.
True or False
TRUE
Mephisto believes that a business is designed to generate wealth and that Faust's business has done this--thus, Faust should be very pleased.
True or False
TRUE
False
The story of Faust suggests that employees, like Linceaus and shareholders like the Three Mighty Men, will, typically, first seek out profits and return on investment before worrying about a higher purpose.
True or False
TRUE
False
The Nintendo “Gameboy production” story relates to this theory of history: dialectic theory.
True or False
FALSE
John Locke’s argues that property is justified, though he knows any of us can be accused of hoarding property in a free-enterprise system. To add to your property without hoarding, he suggests:
a. renting out your property
b. sharing your property with others
C. RETURNING SOME PROPERTY TO THE COMMONS (THE STATE)
d. converting property to cash by selling it or selling the “
fruits
” of your labor
to others outside of your family
e. dividing property among family members while alive or in your will
Adding value to products in a capitalist society becomes a canon in Smith’s “Wealth of Nations,” but Locke actually introduces the concept when he says that property is also justified when we:
a. pay taxes on it
B. IMPROVE THE LAND
c. sell the land at a higher price
d. buy more adjacent land
e. divide the land for tenants
Employ Locke in you answer: If we own ourselves and the produce of our labor, then we should own that produce even if we take a salary if we are working someone else’s land.
True or False
FALSE
True
As land is common and abundant, says Locke, laws should not be applied to assist in setting boundaries because our working the land sets those boundaries.
True or False
TRUE
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