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Final

COMPLETE Portico Notes: Part 1 - got a 4.0 in the course!

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Department
Portico
Course
PRTO 1000
Professor
All Professors
Semester
Winter

Description
Part A Multiple ChoiceTrueFalse Roughly 3540 questions Hints about Part A 1 What are the 7 Randian virtues1Rationality full mental focus on all decisions choice and values2Productiveness recognition of the fact that productive work is the process by which you sustain yourself and calls upon your highest attributes3Pride moral ambitiousness total commitment to achieving own moral perfection4Honesty refusal to accept facts for other than what they are5Independence acceptance of responsibility of forming own judgment mind and living by work of your mind material6Integrity loyalty or consistency between values and actions7Justice the virtue of judging peoples character and giving them what they deserve2 What are the 11 Aristotelian moral virtues1CourageaRecklessness vs cowardicebCardinal virtuecGets you beyond yourself2SelfcontrolaInsensitive peoplebBodily pleasurescGets you beyond yourselfdCardinal virtue3JusticeaNo deficiency or excess virtue in which you practice all 11bThe just person practices the virtues for the community at largecCardinal virtue4GenerosityaSpending money for the right things at the right timebWasteful vs stingycDifferent than RanddDeals with money5MagnificenceaLarge scale spending is justified sometimes weddings building stokesbVulgarity vs meannesscDeals with money6AmbitionaOverly ambitious vs lack of ambitionbDeals with honor7HighmindnessaThe crown of virtuesbDeserving of the highest honorscVain vs small mindeddBeing humble is not justifiedeDeals with honor8GentlenessaShort tempered vs apatheticbAngry at the right time for the right reasons and at the right people9FriendlinessaGiving pleasure and pain at the right time in the right way and for the rightbThe flatterer vs grouchycDeals with social relations10TruthfulnessaHonest about your personal qualities strengths and weaknessesbBoastful vs selfdeprecatingcDeals with social relations11WittinessaHumorbBuffoon vs overly serious3 What are the 7 measurements of utility1Intensity of pleasurepain2Duration3Certainty probability4Propinquity how soon will the expected effects become evident5Fecundity probability of it leading to further pleasure or pain6Purity probability of it not leading to further pleasure or pain7Extent number of people effected 4 From the material prior to the midterm review the Michael Porter Milton Friedman John Mackey and Marjorie Kelly piecesMichael PorterFive forces analysis to determine the attractiveness of an industryoExisting RivalriesAn industry is attractive if existing rivalries are lowIf there are many competitors and they offer equally attractive products and services then rivalry is highIf equal in size and power rivalry is highHigh exit barriers mean high rivalryoBuyersLess buyers means higher buyer powerMore substitute products means higher buyer powerLess product differentiation means higher buyer powerWeak brand identity means higher buyer powerLow switching costs means high buyer poweroSuppliers
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