BUSI 100 Final Exam Review
Questions with Actual Answers 2025-
2026 Updated.
Which person did we discuss in our class that indicated the problem of their time was the
proper administration of wealth.
the correct answer is not listed
W.E.B. Du Bois
Henry David Thoreau
Milton Friedman
Ayn Rand - Answer the correct answer is not listed : Smith
T/F Carnegie believes that if society were to revert to the "good old times", the conditions for
life would become better situated for the servant, but worse for the master. - Answer False
Which of the following phrases is from Thoreau?
"The works of the great poets have never yet been read by mankind, for only great poets can
read them"
"My alma mater was books, a good library.... I could spend the rest of my life reading, just
satisfying my curiosity."
"Cause sometimes I look in her eyes and that's where I find a glimpse of us"
"Outside of a dog, a book is a man's best friend. Inside of a dog, it's too dark to read."
"The more that you read, the more things you will know. The more that you learn, the more
places you'll go." - Answer "The works of the great poets have never yet been read by
mankind, for only great poets can read them"
t/f Mark Twain has the famous quote of: "a 'classic' is a book that people praise and don't read".
Would Henry David Thoreau agree with this statement? - Answer True
t/f Adam Smith argues that it is prudent to prohibit importation of a foreign commodity to
encourage a more expensive domestic production of the commodity. - Answer false
Which of the following is a reasonable interpretation of Adam Smith's statement, "What is
prudence in the conduct of every private family can scarce be folly in that of a great kingdom."
Matter will pay her debt if we don't reconcile the means of progress between the individual
businesses and the government
, It is important to realize that government regulation is important to the conduct of family
business
It will help the community at large if an individual leaves his or her wealth to their family
instead of to the government at their death
Motives for commerce change as one moves from the family stage to the governmental stage
If the pursuit of self-interest works at the individual level, it will also work at the national level -
Answer If the pursuit of self-interest works at the individual level, it will also work at the
national level
t/f Pacioli would agree that every merchant's main purpose is to arrange all business
transactions in such a systematic way that one may understand each one of them at a glance. -
Answer false
How does Rand view the American idea of "making money"? - Answer Positively, since this
removes the static idea of wealth and allows financial mobility
Which of the following writers suggested that money is symbolic of a society's moral values?
Plato
The correct answer is not listed
Friedman
Rand
Carnegie - Answer Rand
T/f During lecture, we watched a brief interview exchange between David Letterman and former
President Barack Obama. In that exchange, former President Obama indicated that the use of
Twitter, Facebook, and other social media sites to get news and other information is creating a
common information base for society, thus resulting in less polarization of individual beliefs. -
Answer false
During lecture, we watched a clip from Shark Tank, a popular TV show where entrepreneurs
pitch their business ideas to a panel of potential investors. Which course topic did this clip relate
to? - Answer Finance - Capital structure
During lecture, we watched a brief video clip that Milton Friedman narrated to illustrate the
basic principles underlying the free market according to Adam Smith. In this video, Friedman
Questions with Actual Answers 2025-
2026 Updated.
Which person did we discuss in our class that indicated the problem of their time was the
proper administration of wealth.
the correct answer is not listed
W.E.B. Du Bois
Henry David Thoreau
Milton Friedman
Ayn Rand - Answer the correct answer is not listed : Smith
T/F Carnegie believes that if society were to revert to the "good old times", the conditions for
life would become better situated for the servant, but worse for the master. - Answer False
Which of the following phrases is from Thoreau?
"The works of the great poets have never yet been read by mankind, for only great poets can
read them"
"My alma mater was books, a good library.... I could spend the rest of my life reading, just
satisfying my curiosity."
"Cause sometimes I look in her eyes and that's where I find a glimpse of us"
"Outside of a dog, a book is a man's best friend. Inside of a dog, it's too dark to read."
"The more that you read, the more things you will know. The more that you learn, the more
places you'll go." - Answer "The works of the great poets have never yet been read by
mankind, for only great poets can read them"
t/f Mark Twain has the famous quote of: "a 'classic' is a book that people praise and don't read".
Would Henry David Thoreau agree with this statement? - Answer True
t/f Adam Smith argues that it is prudent to prohibit importation of a foreign commodity to
encourage a more expensive domestic production of the commodity. - Answer false
Which of the following is a reasonable interpretation of Adam Smith's statement, "What is
prudence in the conduct of every private family can scarce be folly in that of a great kingdom."
Matter will pay her debt if we don't reconcile the means of progress between the individual
businesses and the government
, It is important to realize that government regulation is important to the conduct of family
business
It will help the community at large if an individual leaves his or her wealth to their family
instead of to the government at their death
Motives for commerce change as one moves from the family stage to the governmental stage
If the pursuit of self-interest works at the individual level, it will also work at the national level -
Answer If the pursuit of self-interest works at the individual level, it will also work at the
national level
t/f Pacioli would agree that every merchant's main purpose is to arrange all business
transactions in such a systematic way that one may understand each one of them at a glance. -
Answer false
How does Rand view the American idea of "making money"? - Answer Positively, since this
removes the static idea of wealth and allows financial mobility
Which of the following writers suggested that money is symbolic of a society's moral values?
Plato
The correct answer is not listed
Friedman
Rand
Carnegie - Answer Rand
T/f During lecture, we watched a brief interview exchange between David Letterman and former
President Barack Obama. In that exchange, former President Obama indicated that the use of
Twitter, Facebook, and other social media sites to get news and other information is creating a
common information base for society, thus resulting in less polarization of individual beliefs. -
Answer false
During lecture, we watched a clip from Shark Tank, a popular TV show where entrepreneurs
pitch their business ideas to a panel of potential investors. Which course topic did this clip relate
to? - Answer Finance - Capital structure
During lecture, we watched a brief video clip that Milton Friedman narrated to illustrate the
basic principles underlying the free market according to Adam Smith. In this video, Friedman
