Questions On The Foundations Of Business
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According to the great learning of Confucian we must produce more than we _________ for the purpose of an abundance
About This Quiz
Businesses changed as synergies were created through uniting principles of production together. The modern period is represented by the ‘economic era,’ which we are living in now. Throughout time, many geniuses have come and go in business to make it a stronger entity. This quiz covers the history of business and the people who made their mark. Always know you will earn a certificate for completing the quiz.
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- 2.
Which Scottish economist came up with the idea that everything has a certain degree of value and you change things into forms that have economic value.
Explanation
Theory of Added Value- everything has a certain degree of value and you change things into forms that have economic value. Kennecott takes ore and they move it on to add value, sells it to a processor (for $10) and they turn it into a bar then sells it to processor two (for $15) which turns it into the copper wire and other formed parts and sells it to processor three (for $20) which turns it into coins and electric wire who then sell it contractors and banks (for $25) who then sell it to the consumers (for $30) which completes adding value and ends with the consumerRate this question:
- 3.
History is moving towards god consciousness and begins with a state of affairs, (status quo) or __________.
Explanation
The given correct answer is "thesis". This answer is appropriate because a thesis is a statement or theory that is put forward as a premise to be maintained or proved. In the context of the question, it implies that history is progressing towards a state of god consciousness, starting from a status quo or a current state of affairs. The thesis acts as the foundation or starting point for this progression.Rate this question:
- 4.
Process of Capitalization - Gather up men (labor), Build Ships (_______), a place to set up (land), and entrepreneurship who is the visionary that uses all of these to create a business.
Explanation
The process of capitalization involves gathering up labor, building ships, acquiring land, and having an entrepreneurial visionary who uses all of these resources to create a business. In this context, "capital" refers to the financial resources and assets that are used to start and operate a business. It includes money, machinery, equipment, buildings, and other tangible and intangible assets that contribute to the production and growth of a company. Capital is essential for businesses to invest in their operations, expand their reach, and generate profits.Rate this question:
- 5.
In Goethe's Gaust Faust is trying to find his ________ in business?
Explanation
In Goethe's "Faust," the protagonist, Faust, is on a quest to find his soul in the realm of business. This suggests that Faust is searching for meaning and fulfillment in his life, and believes that he can find it through his pursuits in the business world. The concept of the soul represents a deeper, spiritual aspect of oneself, and Faust's desire to find it implies a longing for a greater purpose beyond material success.Rate this question:
- 6.
_______________________history is based on scarcity because it has all been about the struggle of our resources inherited by our ancestors and the limited quantity of these resources.
Explanation
Scarcity- history is based on scarcity because it has all been about the struggle of our resources inherited by our ancestors and the limited quantity of these resources. Scarcity is either created by human nature (created scarcity Gameboy, powerful hunter controls food supply) and physical scarcity (volcanoes, floods, hurricanes)Rate this question:
- 7.
The four requirements for capitalism are 4 requirements for capitalism 1. land 2. labor 3. capital 4. entrepreneurship
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True
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False
Correct Answer
A. TrueExplanation
The statement is true because these four requirements are indeed essential for capitalism to function. Land refers to the natural resources and physical space that are necessary for production. Labor refers to the workforce and their skills and abilities. Capital refers to the financial resources and tools needed for production. Lastly, entrepreneurship refers to the individuals who take risks and innovate in order to create and manage businesses. All four requirements work together to create a capitalist system where goods and services are produced and exchanged for profit.Rate this question:
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- 8.
Columbus had a __________________ Style in exhange. In Columbus __________ style he would engage in exchange to develop a relationship with the Indians to try and create willing partners, has an advantage because the Indians believe that Columbus and his men are from heaven, has an advantage of his weapons as well and shows his power by firing them
Correct Answer
managerialExplanation
In the given context, the term "managerial" suggests that Columbus had a strategic and organized approach in his exchange with the Indians. He would engage in exchange not only to establish a relationship but also to create willing partners. This indicates that he had a plan and was actively managing the interactions. Additionally, the mention of showing his power through firing weapons implies a sense of control and authority, which aligns with a managerial style of leadership.Rate this question:
- 9.
Which philosopher has an attitude regarding the common people that they will choose a society based on needs. Needs are a natural thing and each one of us can discern whether to live in the natural or unnatural?
Correct Answer
AristotleExplanation
Aristotle believed that the common people have the ability to discern their needs and choose a society based on those needs. He believed that needs are natural and that individuals have the capacity to determine whether they should live in a society that aligns with their natural needs or in an unnatural society.Rate this question:
- 10.
According to Thoreau in the business study, the study of nature represents the emblem of _______.
Correct Answer
godExplanation
Business Study- study nature (the emblem of god), he cuts out ice and sells it, grew veggies and sold them, only worked six weeks to cover everything, become more efficient in business so you don’t have to work as many hoursRate this question:
- 11.
Self-actualization 1%< reach it because it is transcendental, not dictated by ____________ things.
Correct Answer
materialExplanation
transcendental- Beyond common thought or experience; mystical or supernatural. self-actualization- To develop or achieve one's full potential.Rate this question:
- 12.
Infinite profit infinite growth and maximum self-interest ( with some government regulations) are all apart of the capitalist society values.
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True
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False
Correct Answer
A. TrueExplanation
The statement suggests that in a capitalist society, there is a focus on unlimited profit, continuous growth, and individual self-interest. It also acknowledges that some government regulations may be in place to ensure fairness and prevent exploitation. This aligns with the values typically associated with a capitalist system, making the statement true.Rate this question:
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- 13.
Tale of Gyges and Meaning-If you give a just man and an unjust man the ring they will both take advantage of their situation and use it for bad. Gyges is deception.
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True
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False
Correct Answer
A. TrueExplanation
Tale of Gyges and Meaning- Gyges finds a ring that has an ability to turn him invisible, he then uses the ring to rape the queen and kill the king to rise to the top of this business-oriented society. The meaning is that given an advantage in a business society one uses it only to get ahead and benefit them. Business society harbors/promotes a negative psyche for people in or around it. If you give a just man and an unjust man the ring they will both take advantage of their situation and use it for bad. Gyges is deceptionRate this question:
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- 14.
According to Plato the structure of an "Ideal" city condemns the idea of a state built upon ______.
Correct Answer
wantsExplanation
Structure of an Ideal City- basically it would be those who provide basic needs i.e. farmer for food, builder for homes, cobbler and weaver for clothes. Not those who provide wants. A city that makes the things we need.Rate this question:
- 15.
Which historical figure best describes the following insert: gather up men (labor), build ships (capital), place to set up (land), and entrepreneurship who is the visionary that uses all of these to create a business?
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Henry David Thoreau
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Ralph Waldo Emerson
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Christopher Columbus
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Karl Marx
Correct Answer
A. Christopher ColumbusExplanation
Christopher Columbus is the best historical figure that describes the given insert because he gathered men (labor) to accompany him on his voyages, built ships (capital) to explore new lands, sought a place to set up (land) colonies, and demonstrated entrepreneurship by seeking financial support for his expeditions. He utilized all of these elements to create a business venture, as he aimed to find new trade routes and establish colonies for economic gain.Rate this question:
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- 16.
According to Aristotle, what are the two kinds of arts of acquisition?
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Natural and unnatural
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Buying and selling
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Pick up and receive
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Charity and goodwill
Correct Answer
A. Natural and unnaturalExplanation
According to Aristotle, there are two kinds of arts of acquisition: natural and unnatural. Natural acquisition refers to the acquisition of wealth through activities that are essential for survival, such as agriculture and animal husbandry. Unnatural acquisition, on the other hand, refers to the acquisition of wealth through activities that are not essential for survival, such as trading and commerce. Aristotle believed that natural acquisition is more virtuous and morally superior compared to unnatural acquisition.Rate this question:
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- 17.
Thales of Miletus was known for buying all of the olive presses to create a monopoly.
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True
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False
Correct Answer
A. TrueExplanation
Thales is criticized for being a philosopher. The businessmen ask if he is so smart then why is he so poor? Thales buys all of the olive presses and when it comes time to harvest all of the olive farmers lease the presses whenever he wanted and made a lot of money. This is sad because it shows that even the best can be reduced to play with the worst among us (business world).Rate this question:
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- 18.
Abraham Maslow's developer of Maslow's hierarchy of needs. Includes psychology, security, affiliation, self-esteem, and the last one?
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Self nomination
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Humble fate
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Charity
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Self-actualization
Correct Answer
A. Self-actualizationExplanation
Abraham Maslow's hierarchy of needs is a theory that explains human motivation. It suggests that individuals have a hierarchy of needs that must be fulfilled in a specific order. The needs include physiological needs, safety needs, love and belongingness needs, esteem needs, and self-actualization needs. Self-actualization is the final level in the hierarchy, representing the need for personal growth, fulfillment, and reaching one's full potential. It involves pursuing meaningful goals, developing talents, and experiencing self-fulfillment. Therefore, "self-actualization" is the correct answer in this context.Rate this question:
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- 19.
What are the 3P's?
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Power, privilege, place
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Prosperity, peace, power
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Perpetuate, privilege, power
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Place, power, premise
Correct Answer
A. Power, privilege, placeExplanation
Power because power is A getting B to do what B would otherwise not do so B is doing the work for A. Privilege to do the things that I want to do. Privilege is the desire to desire. Place means title, ownership aristocrat, executive, but it could also be the title to a car. The place is ownership to say that this is mine.Rate this question:
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- 20.
The definition of productivity is the maximum output for minimum input.
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True
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False
Correct Answer
A. TrueExplanation
The given statement is true. Productivity is indeed defined as achieving the maximum output with minimum input. It is a measure of efficiency and effectiveness in utilizing resources to produce desired outcomes. By optimizing the use of resources such as time, labor, and materials, productivity can be increased, leading to higher levels of output or results. Therefore, the statement accurately reflects the definition of productivity.Rate this question:
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- 21.
According to Aristotle the two kinds of value that goods can offer our money (coin) and a barter (trade).
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True
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False
Correct Answer
A. TrueExplanation
According to Aristotle, goods can offer two kinds of value: money (coin) and barter (trade). This means that goods can be exchanged for either money or other goods through a barter system. This statement aligns with Aristotle's views on the value of goods and the different ways in which they can be exchanged. Therefore, the answer is true.Rate this question:
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- 22.
Columbus Purpose? One of the ideologies behind Columbus's purposes was "one gets rich by creating a more efficient way to make others rich"
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True
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False
Correct Answer
A. TrueExplanation
Columbus’ Purpose- partly more efficient trading route for Europe to be able to get gold and spices, gold was used to fund armies to invade territories to gain resources, BE RICH, ***one gets rich by creating a more efficient way to make others rich**Rate this question:
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- 23.
Confucius- “Laissez-Faire” refers to"
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Buyer beware
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Let it be
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And so does
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Take a stand
Correct Answer
A. Let it beExplanation
The term "Laissez-Faire" refers to the concept of letting things be or allowing them to take their own course without interference. It is often used in reference to economic policies that advocate for minimal government intervention in the market. This approach suggests that the market should be left to operate freely, without excessive regulations or restrictions.Rate this question:
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- 24.
Mephisto is God in Faust.
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True
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False
Correct Answer
A. FalseExplanation
Mephisto as Symbol- he is the devil that controls all of nature, the materialist class, the spiritless business world, a freebooter.Rate this question:
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- 25.
According to Henry David Thoreau He believes that it should be man the maker of things not man the consumer.
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True
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False
Correct Answer
A. TrueExplanation
Consumerism and Materialism- he believes that consumerism and materialism bring you away from your true self, material things distract you from your true purpose because you spend time at a job trying to make money to acquire material things. He believes that it should be the man the maker of things, not man the consumer.Rate this question:
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- 26.
Which philosopher developed the five excellent things? o Bounteousness without any cost- follow what is the profit of the people o Lead them on profitably- show other ways to make money o Teach them- public education to instill values o Regulate them-only regulate if a business is doing harm to the “father’s” children (dangerous, harmful products), also against monopolies which don’t harbor the ability to rise and become wealthy o Do not fight them
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Confucius
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Homer
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Emerson
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Plato
Correct Answer
A. ConfuciusExplanation
The philosopher who developed the five excellent things is Confucius. These five excellent things include bounteousness without any cost, leading people on profitably, teaching them through public education, regulating them when necessary, and not fighting them. Confucius believed in promoting the well-being and prosperity of the people, instilling values through education, and ensuring fair business practices. He emphasized the importance of harmony and social order in society.Rate this question:
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- 27.
When a commodity is cheap, it calls forth demand, and raises its price; and when it is dear, it calls forth supply, and lowers its price refers to what theology?
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Supply and change
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Demand and support
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Scarcity
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Supply and demand
Correct Answer
A. Supply and demandExplanation
This statement refers to the economic concept of supply and demand. When a commodity is cheap (in high supply), it attracts more demand, causing the price to increase. On the other hand, when a commodity is expensive (in low supply), it encourages more supply to meet the demand, causing the price to decrease. This principle is a fundamental concept in economics and helps explain the fluctuation of prices in the market.Rate this question:
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- 28.
The reason why we speak the language of infinite profit, infinite growth and Max _________ is because we all want power or privilege in place.
Correct Answer
interestExplanation
Power because power is A getting B to do what B would otherwise not do so B is doing the work for A. Privilege to do the things that I want to do. Privilege is the desire to desire. Place means title, ownership aristocrat, executive, but it could also be the title to a car. The place is ownership to say that this is mine.Rate this question:
- 29.
According to Francis Fujuyma (American political scientist and economist 1952) people are all under the language of business which is the basis for _______________
Correct Answer
capitalismExplanation
We are all operating under capitalism. Doesn’t mean the end of war but the end of history means the great changing forces of the ideology are no longer there. We almost all have come to the conclusion that we all like the idea of infinite profit, infinite growth and max self-interest and capitalism allows for these conclusions.Rate this question:
- 30.
When a new company wants to get created, they make an IPO. This Acronym refers to what?
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Involved Purchase Decision
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Integrated Purchase Option
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Interest Pass Order
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Initial Public Offering
Correct Answer
A. Initial Public OfferingExplanation
An initial public offering (IPO), is the first sale of stock by a formerly PUBLIC company. this refers to the days of Columbus when there were such thing and share prices but they were one and the same. go to  Company formation, and product output- when a new company wants to get created, they make an IPO, Columbus went to Isabella/Ferdinand (crown and church) to get an investor for the reason of getting a product out of itRate this question:
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- 31.
Confucian socialism- is different from today's socialism.
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True
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False
Correct Answer
A. TrueExplanation
Confucian “Socialism”- he believes that everyone should have the ability to rise and become wealthy, different from today’s version of socialism because it uses government regulations to disperse wealth and Confucius opposes Socialism- A political and economic theory of that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.Rate this question:
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- 32.
Adam Smith (author of the wealth of nations) felt that tariffs and monopolies harmed the country because they didn’t allow for production.
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True
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False
Correct Answer
A. TrueExplanation
Attitude toward Tariffs and Monopolies- he felt that tariffs and monopolies harmed the country because they didn’t allow for production, if you allow people from other countries in they will spend their money in the country they are starting the business. More people allowed in the production of a good create more advertising of that good which leads to increases consumption of that good. Increased consumption leads to more money being spent in that country. Wealth of nations - First published in 1776, it is a reflection on economics at the beginning of the Industrial Revolution and argues that free market economies are more productive and beneficial to their societies.Rate this question:
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- 33.
Baucis and Philemon as Symbols- they represent God and good people. They have a good purpose and that is to save people from the water.
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True
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False
Correct Answer
A. TrueExplanation
Baucis and Philemon are symbolic figures in Greek mythology. They are often portrayed as a virtuous and hospitable couple who show kindness to strangers, even when they are disguised gods. By representing God and good people, they embody moral values and serve as examples of righteousness and compassion. Their purpose is to demonstrate the importance of helping others and saving them from harm, which aligns with the statement that they aim to save people from the water. Therefore, the correct answer is true.Rate this question:
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- 34.
Thoreau believed that you found your purpose through business. Especially big businesses.
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True
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False
Correct Answer
A. FalseExplanation
FALSE! Small and Big Business- not opposed except to the degree that it takes you off of your singular purpose, the big business makes it hard to hold onto your spiritual intentRate this question:
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- 35.
Francis Fukuyama (American political scientist and economist 1952) says here’s how you’ll know we are at the end of history “when all the old battle lines that were drawn between ______________ and _______________ will disappear and everything will move towards making money”.
Correct Answer
capitalism socialismExplanation
According to Francis Fukuyama, when the old battle lines between capitalism and socialism disappear and everything moves towards making money, it will signify the end of history. This implies that the ideological conflicts between these two economic systems will cease to exist, and the focus will solely be on economic gains and profit-making.Rate this question:
- 36.
In Colombus's times, the Spanish-style of marketing development was to care for the Indians and assist them in transition over to modern-day living.
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True
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False
Correct Answer
A. FalseExplanation
Spanish Style of Mkt. Development- conquer, kill and take what they wantRate this question:
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- 37.
Which invention in the 1800s led Auguste Comte, Charles Fourier to say we were, "at the end of history".
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Automobile
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Electricity
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Steam engine
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Cotton gin
Correct Answer
A. Steam engineExplanation
Auguste Comte, Charles Fourier- said we were at the end of history in the 1800s because James Watt perfected the steam engine so as to create energy so as to create mass production of textiles and mining. They believed the age of scarcity was coming to an end because of the factories and mass production and are producing in huge quantities and providing it at a low cost. They believed steam put an end to scarcity, but we still had the argument of how to make money, whether the individual should have the right to make an infinite profit, infinite growth, or should the state own all of these. They believed technology brought the end of history.Rate this question:
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- 38.
Which philosopher coined the ideology. Needs are the basic fundamentals for survival and wants are above and beyond basic needs i.e. food is a need, gourmet food is a want, ultimately people who have an abundance of needs move towards wants.
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Plato
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Emerson
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Socrates
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Marx
Correct Answer
A. PlatoExplanation
Plato is the correct answer because he is known for his philosophy on the distinction between needs and wants. He believed that needs are essential for survival, while wants are desires that go beyond basic necessities. This idea is reflected in the explanation provided, which states that food is a need, but gourmet food is a want. Therefore, Plato coined the ideology of distinguishing between needs and wants.Rate this question:
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- 39.
Empathy is seen through the eyes of _________.
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Others
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A father
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The sick
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The week
Correct Answer
A. OthersExplanation
Relationship of “Theory of Moral Sentiments” to “The Wealth of Nations”- many say smith doesn’t count for philosophy or religion but he wrote the theory of moral sentiment, one thing he believes in is the that in the practice of commerce, **all men and all women at some point will see through the eyes of others, brings up Zeno? Plato and Aristotle all say that men have the capacity to see through the eyes of others and when you see through the eyes of others you have empathy for them. Would an empathetic person be that hard on other beings, businesses in a capitalist society show a degree of empathy by giving to charities**Rate this question:
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- 40.
Karl Manheim's argument Prior to 1776, their idea of utopia (the English) was the freedom of Speech.
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True
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False
Correct Answer
A. FalseExplanation
Mannheim’s Argument- ascending bourgeoisie men and women prior to 1776 their idea of a utopia would have been freed because of the restrictions from England. They were not a free colony. Not the freedom we seek today but the freedom to make more money and the English did not allow us to make all the money we wanted to. England didn’t allow building big industrial goods. The men who were in power were rich and wanted to be richer and England didn’t allow this.Rate this question:
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- 41.
Columbus was considered the head Laborer.
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True
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False
Correct Answer
A. FalseExplanation
He was the admiral, CEO, manager.Rate this question:
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- 42.
Supply and demand are the invisible hands coined by Adam Smith.
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True
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False
Correct Answer
A. TrueExplanation
The Invisible Hand Theory- p106 line 7 supply and demand is the invisible hand, he meant supply and demand but he also meant god because he believed that God would never let his children destroy themselves with their own greed, arrogance, and self-interest. This is god’s way to see to it that our empathy has a good resultRate this question:
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- 43.
Which philosopher had the ideology that? Labor-use labor as a way to provide for your purpose, why go to a job that doesn’t serve your spiritual soul?
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Thoreau
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Emerson
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Thales
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Confucian
Correct Answer
A. ThoreauExplanation
Labor- use labor as a way to provide for your purpose, why go to a job that doesn’t serve your spiritual soul? Do you really need to work all that much there is no way to consume as much relative to your work, are you using too much time towards labor and not enough for your personal time, work makes us less honest and people who put in a lot of work and the lack integrity (integrity-slaves in Greece were dishonest because they worked on average 80-90hours a week, these people are not honest with themselves)Rate this question:
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- 44.
Aristotle's historically recognized for his passage regarding what analogy?
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Boot
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Shoe
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Wear and tear
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Old kickers
Correct Answer
A. ShoeExplanation
Aristotle is historically recognized for his passage regarding the analogy of a shoe. This analogy is often used to explain his concept of causality, specifically the idea that just as a shoe is made for a specific purpose (protecting the foot), everything in the natural world has a purpose or function. This analogy helps to illustrate Aristotle's teleological view of nature, where everything has a purpose and is directed towards fulfilling that purpose.Rate this question:
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- 45.
Regarding Columbus, which Statement is the least accurate specific to the purpose of the stockholders?
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Provide money
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Get ROI (Gold and spice)
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Get equity of the ships
Correct Answer
A. Get equity of the shipsExplanation
The statement "Get equity of the ships" is the least accurate specific to the purpose of the stockholders. This is because stockholders typically invest money in a company or venture in exchange for ownership shares or equity. However, in the case of Columbus, the stockholders did not receive equity in the ships. Instead, they provided funding to Columbus for his voyage with the expectation of gaining a return on investment (ROI) through the discovery of gold and spices.Rate this question:
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- 46.
According to Confucians' purpose which is not one of his wants.
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Universal equality
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Universal opportunity
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Economic freedom
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Universal connection
Correct Answer
A. Universal connectionExplanation
Confucians' purpose does not include economic freedom as one of their wants. Instead, they prioritize universal connection, emphasizing the importance of harmonious relationships and social bonds among individuals and within society. This concept is central to Confucian teachings, as it promotes mutual respect, empathy, and a sense of shared responsibility, ultimately aiming to create a cohesive and interconnected community.Rate this question:
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- 47.
Who coined the following phrase.. All business began as a reaction against the tyranny of nature
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Will Rogers
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Sigmund Freud
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Anthony Hill
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Karl Marx
Correct Answer
A. Sigmund FreudExplanation
Sigmund Freud Australian neurologist (6 May 1856 – 23 September 1939) Powerful people don’t like to give up their power and people of power create scarcities (powerful hunter trades food for loyalty but can also not give out food and creates a scarcity) early man worshiped gods of nature and made deals with them for the safety against the tyranny of nature.Rate this question:
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- 48.
Francis Fukuyama believes that we are all at the beginning of history.
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True
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False
Correct Answer
A. FalseExplanation
Francis Fukuyama- believes we are at the END of history because communism no longer exists (communism still exists but it harbors negative, poor conditions) and capitalism is the widest held ideology, it is something that all societies can relate to.Rate this question:
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- 49.
Homo Faber refers to:
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Man who thinketh
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Man the distinction of all things
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Man the maker of things
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Man the inventor of life
Correct Answer
A. Man the maker of thingsExplanation
Homo Faber refers to "Man the maker of things" because it is derived from Latin where "homo" means man and "faber" means maker. This term emphasizes the human ability to create and construct objects, highlighting the role of humans as creators and inventors. It signifies the importance of human craftsmanship and the transformative power of human creativity in shaping the world around us.Rate this question:
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Nov 16, 2023Quiz Edited by
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Sep 19, 2011Quiz Created by
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