THE BUSINESS SYSTEM – Markets, Government and International Trade

ECONOMIC SYSTEM: The system a society uses to provide the goods and services it needs to survive and flourish. GLOBALIZATION: The process by which the economic and social systems of nations are connected together so that goods, services, capital, and knowledge move freely between nations. TRADITION BASED SOCIETIES: Societies that rely on traditional communal roles […]


ETHIC OF CARE: An ethic that emphasizes cring for the concrete well being of those near to us. ETHIC OF VIRTUE: An ethic based on evaluations of the moral character of persons or groups. UTILITARIANISM: A general term for any view that holds that actions and policies should be evaluated on the basis of the […]