unit 42 Flashcards
define cost benefit analysis
it’s an evaluation done by the goverment of all external costs and benofest pf a business upon analysis the giver t decided whether to issue the business a licencie or not
social costs
includes both external costs and private costs
social benefits
includes both external benifets and private benefits
private costs
costs paid by the owner of a company when it open up and expands such as loss of personal life and putting all his savings to start up
private benefits
may get high income
he is his own boss
external costs
costs paid by the society when a company opened up
external benefits
be often to the society when a company opens up
cooperative social responsibility
when a company adopt car it acts responsible to the enviorment and society to improve image and sales
sustainable development
when a company achieves continuous progress without damaging the enviorment
how to chai eve sustainable development
use renewable energy
recycle water
use fewer resources
why buisness should be sustained
better image resulting in kroe sales
survival as there will be less risks of pressure done by pressure groups
howver high start up cost using renewable energy so less profit
eithical decsion
when the manager makes sure that the moral code in the business is applied
examples of unethical acts
paying low wages
making workers work for long hours
paying low prices for suppliers
child labour
bribing the goverment
what are pressure groups
a group of people who take actions against a certisn business to benefit the society
what do pressure groups do
raise wariness by giving out leaflets to people and boycotting them in addition to putting pressure on the goverment where they meet with them and exmplain the harms of the new factory forcing it to close down
