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    The document is a homework assignment requiring students to explain the philosophies of Adam Smith, Karl Marx, and John Locke. It provides brief summaries of each philosopher's views: 1) Adam Smith argued against mercantilism and supported laissez-faire economics and the invisible hand of free markets. 2) Karl Marx originated Marxism which focuses on the struggle between capitalists and the working class, believing it would lead to a proletariat revolution. 3) John Locke argued that all persons have natural rights to life, liberty, and property, and that rulers who fail to protect these rights can be removed by the people, including by force if necessary.

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    BSIB522 HWAC1 QP (1) (1)

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    The document is a homework assignment requiring students to explain the philosophies of Adam Smith, Karl Marx, and John Locke. It provides brief summaries of each philosopher's views: 1) Adam Smith argued against mercantilism and supported laissez-faire economics and the invisible hand of free markets. 2) Karl Marx originated Marxism which focuses on the struggle between capitalists and the working class, believing it would lead to a proletariat revolution. 3) John Locke argued that all persons have natural rights to life, liberty, and property, and that rulers who fail to protect these rights can be removed by the people, including by force if necessary.

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    © All Rights Reserved
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    3 views3 pages

    Bsib522 Hwac1 QP

    Uploaded by

    Noor Assignments
    The document is a homework assignment requiring students to explain the philosophies of Adam Smith, Karl Marx, and John Locke. It provides brief summaries of each philosopher's views: 1) Adam Smith argued against mercantilism and supported laissez-faire economics and the invisible hand of free markets. 2) Karl Marx originated Marxism which focuses on the struggle between capitalists and the working class, believing it would lead to a proletariat revolution. 3) John Locke argued that all persons have natural rights to life, liberty, and property, and that rulers who fail to protect these rights can be removed by the people, including by force if necessary.

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    © All Rights Reserved
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    of 3

    15

    COLLEGE OF ADMINISTRATIVE AND FINANCIAL SCIENCES


    Week 4, 1st Trimester, AY 2021-22
    HOMEWORK NO. 1
    MARKS

    COURSE CODE BSIB522 COURSE TITLE PHILOSOPHY OF BUSINESS AND WEALTH OF


    NATIONS

    SECTION FB TIME DAYS ROOM

    STUDENT NAME ID NO. DATE

    Development of Management Theory and Philosophy.


    TOPIC
    HOME WORK
    1. Based on your own understanding explain the philosophy of:
    DIRECTION &

    REQUIREMENT/S a. Adam Smith


    b. Karl Marx
    c. John Locke.

    ASSIGNMENT Adam Smith


    OUTPUT Smith argued against mercantilism and was a major proponent of laissez-
    faire economic policies. In his first book, "The Theory of Moral Sentiments,"
    Smith proposed the idea of an invisible hand—the tendency of free markets
    to regulate themselves by means of competition, supply and demand, and
    self-interest

    b. Karl Marx
    Marxism is a social, political, and economic theory originated by Karl Marx,
    which focuses on the struggle between capitalists and the working class. ...
    He believed that this conflict would ultimately lead to a revolution in which
    the working class would overthrow the capitalist class and seize control of
    the economy.

    c. John Locke..

    In political theory, or political philosophy, John Locke refuted the theory of


    the divine right of kings and argued that all persons are endowed with
    natural rights to life, liberty, and property and that rulers who fail to protect

    1
    15
    COLLEGE OF ADMINISTRATIVE AND FINANCIAL SCIENCES
    Week 4, 1st Trimester, AY 2021-22
    HOMEWORK NO. 1
    MARKS

    COURSE CODE BSIB522 COURSE TITLE PHILOSOPHY OF BUSINESS AND WEALTH OF


    NATIONS

    SECTION FB TIME DAYS ROOM

    STUDENT NAME ID NO. DATE

    those rights may be removed by the people, by force if necessary.

    (See marking Scheme)


    RUBRIC / MARKING
    SCHEME Rubrics for 4 marks

    CRITERIA 5 4-3
    2-1
    Ability to Always able to Mostly able to Somewhat able
    understand understand understand to understand
    business business business business
    philosophies philosophies philosophies philosophies
    Ability to Always able to Mostly able to Somewhat able
    demonstrate demonstrate demonstrate to demonstrate
    business business business business
    philosophies philosophies philosophies philosophies

    LEARNING ASSESSMENT/MARKING FACULTY/MARKER’S FEEDBACK


    ITEM CILO MARKS MARKS AWARDED

    1.a,b,c 1 15

    (5 marks
    each)

    TOTAL 15

    2
    15
    COLLEGE OF ADMINISTRATIVE AND FINANCIAL SCIENCES
    Week 4, 1st Trimester, AY 2021-22
    HOMEWORK NO. 1
    MARKS

    COURSE CODE BSIB522 COURSE TITLE PHILOSOPHY OF BUSINESS AND WEALTH OF


    NATIONS

    SECTION FB TIME DAYS ROOM

    STUDENT NAME ID NO. DATE

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