Business Ethics and Economic Systems

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Communist economy

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An economic system where the government controls all means of production and distribution.

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Mixed Economy

Back

An economic system combining private and public enterprise.

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Pure capitalism

Back

An economic system where private individuals own and control all means of production.

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Ethical misconduct

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Improper behavior that goes against ethical standards.

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Ethical issue

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A problem or situation requiring a choice between competing sets of ethical standards.

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Process of resolving an ethical issue

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Steps taken to address and solve ethical dilemmas.

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Code of ethics

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A set of guidelines for maintaining ethics in the workplace.

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Business ethics and social responsibility

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The duty of a business to contribute to the well-being of a community.

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Keys to successful partnership

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Essential elements that contribute to a thriving business partnership.

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Online fraud

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Illegal activities conducted via the internet to deceive or steal from individuals or organizations.