BU/224 BU224 BU 224 Unit Discussion
- Kaplan University / BU 224
- 23 May 2018
- Price: $8
- Other / Other
BU 224 Unit Discussion
Unit 1: Unit 1:
Beginning Principles - Discussion
The Wealth of Nations
a. Think of the last two
major things you bought. Why did you buy them? What were your opportunity costs
in making the purchase? What would have been the opportunity cost, if you had NOT
made the purchase? (Not all opportunity costs are measured in money.)
b. Did those selling
them to you provide the goods because they cared about your needs? What was
their REAL motivation?
c. When you go to work,
why do you “sell” your labor to that organization? Do you really care what the
owner of the organization really wants?
d. How do questions b. and c. relate to Adam
Smith’s statement from The Wealth of Nations : “It is not from
the benevolence of the butcher, the brewer, or the baker that you expect our
dinner, but from their regard to their own interest? We address ourselves, not
to their humanity but to their self-love, and never talk to them of our own
necessities but of their advantages.”
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