Lesson 72 - unit 15

Question 1

What is the concept of the moral economy?

Answer 1

It is economic activity based on moral principles such as goodness, fairness, honesty, and justice.

Question 2

What is necessary for markets to bring about mutually satisfying exchanges?

Answer 2

Trust.

Question 3

When was the moral economy easier to maintain?

Answer 3

When market activity was concentrated in local communities.

Question 4

How has trust become more difficult in economic activity?

Answer 4

Economic activity is more spread out, so you often don’t know the person you are doing business with.

Question 5

What is one way to keep the long term in mind?

Answer 5

By saving.

Question 6

How can you show respect to others?

Answer 6

By being honest, not pressuring people, and paying your bills on time.

Question 7

How can you bless others in your work?

Answer 7

By treating people well, being aware of your impact on the environment, and giving to causes.

Question 8

What is the conscience?

Answer 8

The capacity a person has to determine right and wrong.

Question 9

What does buying responsibly mean?

Answer 9

Making purchases in a way that helps others and is in keeping with your beliefs.

Question 10

What are some advantages to doing business locally?

Answer 10

1. You bless those around you
2. You see those you are doing business with and develop relationships
3. talk to real people
4. make a difference in your community