©JASONMcCONNELL 2025 ALL RIGHTS RESERVED
FSU HFT 4224 Hospitality Leadership and
Ethics. Exam Questions and Answers 100%
Pass
"The social responsibility of business is to increase profits" - Answer✔Milton Friedman
Business can provide what kind of outcome? - Answer✔win (x5) which benefits everybody
involved
Who are the various stakeholders? - Answer✔1. Customers
2. Employees
3. Suppliers
4. Shareholders
Modern work is... - Answer✔alienating, specialized jobs are the problem
Modern work makes people... - Answer✔insecure, people are scared of losing their jobs
Modern work makes people... - Answer✔insecure, people are scared of losing their jobs
Pay gap in Capitalism - Answer✔Workers get paid little as capitalists get rich
1
, ©JASONMcCONNELL 2025 ALL RIGHTS RESERVED
Crises of abundance causes capitalism to be... - Answer✔unstable
Who are the true heroes of free-enterprise capitalism? - Answer✔Entrepreneurs
What is the purpose of business? - Answer✔Improve our lives and create value for stakeholders
Capitalism is a system of? - Answer✔Free people and free enterprise; freedom to choose the
products you buy and to start and run your own business
Capitalism has deteriorated due to... - Answer✔Failure of business to act ethically
Many businesses have acted with a low level of "consciousness"
Governments and businesses have colluded, creating "crony capitalism"
What is the difference between morals and ethics? - Answer✔Morals = subjective and personal,
what is fair/unfair
Ethics = more objective reasoning, what is just/unjust
Examples of low level of consciousness - Answer✔Not caring about how your actions impact
others
becoming overly focused on profit maximization
Free enterprise capitalism is ethical because it is... - Answer✔Noble - elevates existance
Good - Creates value
Ethical - voluntary exchange
Heroic - lifts people out of poverty
Why do consumers need to be educated? - Answer✔To want better quality products, and to be
willing to pay a fair price for them
2
FSU HFT 4224 Hospitality Leadership and
Ethics. Exam Questions and Answers 100%
Pass
"The social responsibility of business is to increase profits" - Answer✔Milton Friedman
Business can provide what kind of outcome? - Answer✔win (x5) which benefits everybody
involved
Who are the various stakeholders? - Answer✔1. Customers
2. Employees
3. Suppliers
4. Shareholders
Modern work is... - Answer✔alienating, specialized jobs are the problem
Modern work makes people... - Answer✔insecure, people are scared of losing their jobs
Modern work makes people... - Answer✔insecure, people are scared of losing their jobs
Pay gap in Capitalism - Answer✔Workers get paid little as capitalists get rich
1
, ©JASONMcCONNELL 2025 ALL RIGHTS RESERVED
Crises of abundance causes capitalism to be... - Answer✔unstable
Who are the true heroes of free-enterprise capitalism? - Answer✔Entrepreneurs
What is the purpose of business? - Answer✔Improve our lives and create value for stakeholders
Capitalism is a system of? - Answer✔Free people and free enterprise; freedom to choose the
products you buy and to start and run your own business
Capitalism has deteriorated due to... - Answer✔Failure of business to act ethically
Many businesses have acted with a low level of "consciousness"
Governments and businesses have colluded, creating "crony capitalism"
What is the difference between morals and ethics? - Answer✔Morals = subjective and personal,
what is fair/unfair
Ethics = more objective reasoning, what is just/unjust
Examples of low level of consciousness - Answer✔Not caring about how your actions impact
others
becoming overly focused on profit maximization
Free enterprise capitalism is ethical because it is... - Answer✔Noble - elevates existance
Good - Creates value
Ethical - voluntary exchange
Heroic - lifts people out of poverty
Why do consumers need to be educated? - Answer✔To want better quality products, and to be
willing to pay a fair price for them
2
