The ethical system known as egoism is similar to Adam Smith's concept of the invisible hand in business.
Answer the following statement true (T) or false (F)
True
According to egoism, acceptable behavior is that which maximizes benefits for the individual. This notion is similar to Adam Smith's concept of the invisible hand in business. Smith argued that if every organization follows its own economic self-interest, the total wealth of society will be maximized.
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Luke Belington is an automotive parts salesperson. Each week he writes a column in a local auto magazine about the car industry, its past, present, and future. One of the main reasons for him indulging in writing on the side would be to:
A. convince prospects of his automotive expertise. B. encourage people to buy classic cars. C. qualify leads in the market for a new car. D. gain additional remuneration during low sales periods. E. educate people on the mechanics of car design.
Globalization and financialization are facilitated by:
A. International Labor Standards B. corporate codes of conduct and the labor movement C. tariffs and quotas D. free-market public policies and advances in information technology
An assembly line with 11 tasks is to be balanced. The longest task is 2.4 minutes, the shortest task is 0.4 minutes, and the sum of the task times is 18 minutes. The line will operate for 600 minutes per day
(a) Determine the minimum and maximum cycle times. (b) What range of output is theoretically possible for the line? (c) What is the minimum number of stations needed if the maximum output rate is to be sought? (d) What cycle time will provide an output rate of 200 units per day?
A business plan is the key to raising capital.
Answer the following statement true (T) or false (F)