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Bus 1050, Week 2 Notes

by: sophia_hella

Bus 1050, Week 2 Notes BUS 1050

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About this Document

Markets, money, economy, environment, division/specialization of labor, laissez-faire
Business Foundations
Class Notes
business, Marketing
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This 3 page Class Notes was uploaded by sophia_hella on Thursday August 25, 2016. The Class Notes belongs to BUS 1050 at University of Utah taught by in Fall 2016. Since its upload, it has received 31 views.


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Date Created: 08/25/16
Monday, August 29, 2016 Bus 1050: Week 2 Commerce: Immoral • Motive. Why? - Altruism - Better solution - Freedom - Innovation - Community Need - Creative Just (Compassionate, Empathetic) • Good intentions gone awry • Balance Ends justifies the means • Materialism: Why Do We Do What We Do? Food • • Shelter • Clothing • Fuel Maslow’s Hierarchy of Needs 1. Biological and Physiological Needs (food, drink, shelter, etc.) - Thoreau 2. Safety and Security Needs (protection from danger, physical safety, etc.) 3. Belonging and Social Needs (needing acceptance, family relationships, love, affection) 1 Monday, August 29, 2016 4. Self Esteem and Ego Needs 5. Self Actualization Needs Foundations of a Commercial Society • Community (state, city): “polis” • Specialization of Labor - each of us have a unique skill - rely on each other’s fields for different variations • How can exchange happen? • Productivity - As it goes up, cost goes down - As cost goes down, more people can afford - As more people can afford, more things need to be produced: platonic - As more are produced, it improves productivity • Marketplace: “agora” - variety of goods - needs —> wants Profit Motive 1. HH Management - natural 2. Making Money - experience in art • unnatural • spurious 2 Monday, August 29, 2016 3


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