Business Ethics

Question 1

Enculturation

Answer 1

The process by which humans learn the rules, customs, skills, and values to participate in society.

i.e., the process of learning one’s culture

Question 2

Acculturation

Answer 2

Refers specifically to the cutltural transmission and socialization process that stems from cultural exchange.

i.e., the process of adapting to a new culture

Question 3

acculturation today comes from

Answer 3

Economic development and the worldwide reach of the media

Question 4

Consumerism

Answer 4

a lifestyle characterized by the acquisition of goods and services

Question 5

diminishing marginal utility

Answer 5

consumer has to buy an ever increasing amount things to reach the same level of satisfaction

Question 6

Mercantilism

Answer 6

The theory that global wealth is static and therefore prosperity depends on extracting wealth or accumulating it from others.

Question 7

Localization

Answer 7

The process of adapting a product for non-native environments and languages, especially other nations and cultures

Question 8

Moral agency

Answer 8

the self awareness, freedom and ability to make choices based on our perception of right and wrong.

Question 9

Universal values

Answer 9

ethical principles that apply everywhere despite differences in time, geography and culture

Question 10

Humanistic business model

Answer 10

a business model for balancing profitability and responsibility fairly, especially with regard to stakeholders