Business Ethics
Courtesy/ free pik

Important Vocabulary

  • Charity: Institutions or organizations that provide help for people in need
  • Legitimacy: Acceptability, according to law or public opinion
  • Perfect competition: The situation when there are a large number of sellers and buyers, freedom to enter and leave markets, a complete flow of information, and so on
  • Welfare: A condition of general well-being (and government spending designed to achieve this)
  • Threatening: Menacing, endangering
  • Vitality: Liveliness, health, energy, strength
  • Free enterprise: An economic system in which anyone can attempt to raise capital, form a business, and offer goods or services
  • Conforming: Complying with or following (rules, etc.)
  • Embodied: Expressed, given a material form
  • Proponents: Supporters, people who argue in favor of something

Extracted From

MacKenzie, I. (2002). English for Business Studies: A course for Business Studies and Economics students (2nd ed.). Cambridge University Press.

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