Topic 2.2 Ethical And Enviromental Considerations

Question 1

Ethics

Answer 1

Refers to whether a business decision is made on the basis of what is to be judged to be morally right

Question 2

Profit

Answer 2

Measures the difference between the value of the business and the revenue (sales) and its total costs

Question 3

Fair trade products

Answer 3

Higher prices for a product but better trading such as payments with orders- The aim is to produce the living standards of people in poor countries

Question 4

Social responsibility

Answer 4

Is an approach to managing business in which interests of all groups of society are taken into account when making decisions

Question 5

The enviroment

Answer 5

Natural world with natural features like waterfalls hills deserts ect

Question 6

External costs

Answer 6

External costs of production arise when a business’s activities result in harmful effects on other people not directly involved in production

Question 7

Enviromental reporting

Answer 7

is the publication of a business’s environmental performance to the general public.

Question 8

Recycling

Answer 8

is the reuse of raw materials used in making products, often for many times. Examples include the reuse of glass, paper and metal

Question 9

Sustainability

Answer 9

refers to methods of production which can be continued in the long term without damage to the environment.

Question 10

Enviromental responsibility

Answer 10

refers to the taking of decisions by businesses, consumers, governments and other groups with the intention of protecting the environment

Question 11

A Pressure group

Answer 11

is a group of people with a common interest who influence public opinion and decisions by businesses and governments

Question 12

Global warming

Answer 12

is the gradual heating of Earth’s surface, oceans and atmosphere.

Question 13

Non renewable sources

Answer 13

are those of which only a limited amount exists such as coal and oil.