Podcast
Questions and Answers
According to Paul F. Camenisch, what is the role of profit in a business?
According to Paul F. Camenisch, what is the role of profit in a business?
- A personal gain for the owner
- An incentive to respond to society's needs (correct)
- The ends of the business
- Irrelevant to societal needs
Based on Ronald F. Duska's view, what does he imply about the purpose versus motive in business?
Based on Ronald F. Duska's view, what does he imply about the purpose versus motive in business?
- Purpose and motive may differ in significance (correct)
- Motive drives business more than purpose
- Purpose is secondary to motive
- Purpose and motive are interchangeable terms
In the context of types of business organizations, what distinguishes a corporation from a partnership?
In the context of types of business organizations, what distinguishes a corporation from a partnership?
- Does not have a board of directors
- No right of succession
- Creation by operation of law (correct)
- Owners are also the managers
Which characteristic is NOT typically associated with a businessperson based on the text?
Which characteristic is NOT typically associated with a businessperson based on the text?
What is a common subjective reason for individuals to put up a business according to the text?
What is a common subjective reason for individuals to put up a business according to the text?
According to Milton Friedman, what is the main objective for putting up a business?
According to Milton Friedman, what is the main objective for putting up a business?
What is the fundamental purpose of business activity?
What is the fundamental purpose of business activity?
According to French economist Jean-Baptise Say, how is an entrepreneur defined?
According to French economist Jean-Baptise Say, how is an entrepreneur defined?
What differentiates an entrepreneur from a businessperson?
What differentiates an entrepreneur from a businessperson?
What characteristic is NOT typically associated with an entrepreneur?
What characteristic is NOT typically associated with an entrepreneur?
