poverty and businesses

 

6. “It is for the sake of trivial gains that the world’s affluent, and their governments and international organizations are keeping the poorer half in severe often life-threatening poverty.” My personal opinion on this statement is most closely described by: a. Rubbish! b. “The only way to make money out of poor people is to keep them poor.” c. Who’s to say what is trivial? d. “The rich get richer and the poor get poorer” e. We must mobilize ourselves and rebel against this unjust state of affairs. Choice now: Choice in assignment 1: E Notes:

7. “Every day some 20,000 children die prematurely from poverty related causes, mostly treatable diseases.” My personal opinion on this statement is most closely described by: a. Who cares? b. It’s hard to say it, but given the rising human population, perhaps this is a blessing in disguise for the human species as a whole c. It’s hard to say it, but this just means less people competing with me for scarce opportunities and resources. d. This is morally wrong, but practically, I think that it would cost too much money to solve e. It is morally unacceptable for a single child to die of a preventable disease and we should collectively fix this irrespective of the cost. Choice now: Choice in assignment 1: E Notes:

8. “The business of business is to increase profits for shareholders” My personal opinion on this statement is most closely described by: a. This is how it is AND how it should be b. This is how it should be. Unfortunately in reality businesses have become distracted by social and environmental issues c. This is how it should be. Unfortunately governments have been messing around with business and have imposed all sorts of unnecessary social and environmental responsibilities d. This is how it should be, so long as there are strong legal frameworks in place to ensure that this doesn’t lead to negative social and environmental consequences e. Unfortunately this is how it is. Ideally business should have a much wider set of responsibilities, including both social and environmental responsibilities. f. This narrow view on the responsibility of business is incorrect and went out of fashion in mainstream business years ago.

Choice now: Choice in assignment 1: A Notes:

9. “The world population is 7 billion. 4 billion live in poverty” My personal opinion on this statement is most closely described by: a. Who cares? b. If population growth rates of the poor were not so high they wouldn’t be so poor. c. This is sad but there is not much I can do about it. d. This is sad, but to be honest, it is not going to stop me from focusing on my own wellbeing first. e. I think that individually we can and should strive to eliminate poverty. Choice now: Choice in assignment 1: E Notes:

10. “Don’t let’s lose sight of what creates wealth. It is open markets, it is capitalism.” My personal opinion on this statement is most closely described by: a. Absolutely – any threats to the free market must be squashed b. Yes – capitalism is how we create wealth, but the markets must still be managed a little c. I’m not sure about this – I think that it might be time to consider some sort of different economic system d. No – the market needs to be extensively managed to ensure that the wealth that is created is good wealth rather than bad wealth e. Rubbish – capitalism creates monstrous wealth for a few and abject poverty for many. We need a much more equitable economic system Choice now: Choice in assignment 1: C Notes:

11. “In 2010, Whitey Basson the CEO of Shoprite earned ZAR 620,000,000.00.” My personal opinion on this statement is most closely described by: a. Who cares? b. Good for him – he worked hard to earn this c. The only problem I have with this is that this money is in Basson’s bank account and not in mine d. I think that it is morally wrong for anyone to earn that much money e. I think that active steps should be taken to correct such immoral executive remuneration practices Choice now: Choice in assignment 1: C Notes:

12. “It is estimated that humans are consuming natural resource at a rate that is 30% above the renewal rate. If we continue to consume in this way we are likely to suffer dire consequences which could include extinction.” My personal opinion on this statement is most closely described by: a. Yes we are consuming natural resources too fast, but I don’t think this is a problem as there is plenty of time to find technological solutions to problems that emerge b. Yes we are consuming natural resources too fast. The first priority in solving this is to put the brakes on human population growth. c. Yes we are consuming natural resources too fast. The first priority in solving this is for rich people to reduce their consumption significantly. d. Yes we are consuming natural resources too fast. And frankly I don’t see any solution because increasing consumption is the basis of our economic growth. e. I don’t believe this tale of doom. Choice now: Choice in assignment 1: A Notes:

13. “You discover that your best client is selling tickets to win cars, however, the winners are not chosen at random. The client makes a huge profit after marketing expenses and bonuses.” My personal opinion of what should be done is most closely described by: a. Everyone is doing this kind of thing these days but still I worry that I will get into trouble if , this gets out. Maybe someone should try to convince the client to stop? b. I want to know how they decide who gets the cars. Maybe I can get one too! c. This should be addressed in a written report so that the client can respond formally. d. This should be discussed with the client from the perspective of the relevant laws to urgently find a solution which will be fair for participants but also good for the business. e. If this is a significant irregularity then it must be reported to the authorities as required in various prescripts. If this causes the client cancel my contract then I have a duty to report the facts to my successor. f. I worry a lot about the victims who bought these tickets and about why they are not adequately protected against this kind of scheme. I am going to tell the client that I do not want his business and I am going to lobby for more effective laws and enforcement thereof. Choice now: Choice in assignment 1: B Notes:

14. In my opinion, the financial crisis which began in 2008 was caused by…: a. Government interference in the financial markets b. A lack of regulation of the financial markets c. Corporate greed d. Government incompetence e. Inevitable economic cycles Choice now: Choice in assignment 1: D Notes:

15. “The only way to make money out of poor people is to keep them poor.” My personal opinion on this statement is most closely described by: a. This is how it is AND how it should be. b. This is how it should be. Unfortunately, a bunch of do-gooders are trying to mess up this natural law. c. Fortunately this is just not true. d. This is unfortunately true, but there is nothing I can do about it other than make sure I am not poor. e. This is unfortunately true in today’s world, and I believe we are morally obliged to try and do something about it. Choice now: Choice in assignment 1: C Notes: 16. “I have missed my assignment 6 deadline for SUS1501 because I had an Economics assignment which is just more important to me.” My personal opinion of what should be done, is most closely described by: a. I’m going to a doctor I know to get a doctor’s certificate saying I was sick – I wasn’t really sick. b. I’m going to come up with a really tragic story about my best friend passing away in a car crash and having to attend the funeral – I’m sitting with my best mate now having a good laugh about this. c. I really can’t afford to fail this module so I’m going to do A. above even though I really feel bad about it. d. I’m not going to do any of the above because there is always a chance that Unisa will find out and charge me with misconduct. e. I’m not going to do any of the first three above because eventually Prof Eccles is going to stop believing these stories and then someone who really does have a problem is going to suffer. f. I’m not going to do any of the first three above because they are morally wrong.

Choice now: Choice in assignment 1: C Notes:

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