BUSI 472 TOP Exam Questions and CORRECT Answers

Moral philosophy refers to the specific principles or rules that people use to decide what is right and wrong and present guidelines for "determining how conflicts in human interests are to be settled and for optimizing mutual benefit of people living together in groups Adam Smith considered the father of free-market capitalism Economic Value Orientation associated with values that can be quantified by monetary means; according to this theory, if an act produces more value for its effort, then it should be accepted as ethical Idealism a moral philosophy that places special value on ideas and ideals as products of the mind. The term refers to the efforts required to account for all objects in nature and experience and to assign to thema higher order of existence Realism the view that an external world exists independent of our perception of it. Realists assume that humankind is not naturally benevolent and kind, but instead inherently self-centered and competitive