REVIEW1 - 3/4) Exxon Mobil Corporation Is descended from a...

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3/4) Exxon Mobil Corporation Is descended from a company started by John D Rockefeller 5) According to the lecture notes the fundamental purpose of business activity is To satisfy human needs by creating products and services 2) As defined in the lecture notes society includes Ideas, institutions, material possessions…(all of the above) 6/7) The market capitalism model is based on the assumption that Market performance is the best measure of social performance 6/7) In the market capitalism model it is NOT assumed that Government interference in the economy should be minimal Individuals have great freedom to seek their self-interest Individuals can own private property Competition lowers the quality of products 8) According to the dominance model Business is buffered from pressures of society 14) Technological change Provides both benefits and stress 19) Craft production techniques feature A decentralized organization Economic ideas introduced during the protestant reformation held that
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This note was uploaded on 03/26/2009 for the course BA 4307 taught by Professor Ritchey during the Spring '09 term at University of Texas at Dallas, Richardson.

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REVIEW1 - 3/4) Exxon Mobil Corporation Is descended from a...

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