When capitalism is criticized, it is usually critirized for. a. Not producing en

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When capitalism is criticized, it is usually critirized for. a. Not producing enough wealth. b. Producing too much wealth c. Not distributing wealth equally or fairly enough. d. Growing the size of government and the burden of taxes on citizen's liv 25. When Andrew Carnegie retired from Carnegie Steel, he was possibly the wealthiest man on the planet - he was wealthier than any king, ruler, or sultan. What is remarkable about this is that he created all of his wealth from nothing (having been born into poverty) and he did not invent any particularly remarkable product (as Edison or Bell had done). a. True b. False 26. What were some of the things Andrew Carnegie did to help him achieve success in his life? a. He decided to go to night school to learn accounting at the age of 14 to improve his business skills. b. As a teenager he learned how to take telegraph messages simply by listening to them, becoming one of the first in the country to do so. c. At the age of 24, when became the superintendent of the Pittsburgh division of train routes, he controversially decided to burn wrecked trains in order to clear them more quickly from the tracks. (A method which other railroad superintendents later copied.) d. All the above 27. Carnegie, who was fond of using machinery, automization, and hiring unskilled labor, once remarked: "If you took away his employees and managers and left him with all his material assets (buildings and machinery), he would be back up and running within a year or two, but if you took away his all of his buildings and machinery and left him only with his employees and managers, he would not be able to start again." a. True b. False 28. What is hedonism? a. The view that pleasure is the highest good. b. The view that faith is the highest good c. The view that knowledge is the highest good. d. The view that duty is the highest good. 29. In describing what "Business Ethics can Learn from Entrepreneurship," which is NOT a charac teristic that Stephen Hicks states that the entrepreneur embodies? a. Perseverance through'trial and error" b. Trade with 'win-win' results c. Drive and ambition d. Selflessness and charity

Explanation / Answer

24. Capitalism is criticized for .... c. not distributing wealth equally or fairly enough

Since capitalism exploits the workers and collects their part of deserved wages as capital profit. This generates an unequal distribution of wealth and capital in the society which is criticized by economists. Since the root of such unequal distribution of wealth is because of the owners of capital ,i.e. Capitalist, who uses their capital strength or the character of ownership of capital to exploit the needy or those who don't own any capital.

28. Hedonism, a. The view that the pleasure is the highest good.

Hedonist always thinks of pleasure as a result of working. Hedonist looks at pleasure as the primary important good.

Answers on 25., 26., 27 and 29. requires more information on any previous readings related to these question.

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