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ENVIRONMENTAL AND ETHICAL

ISSUES

Textbook, Chapter 27 [pg 329-339]

Name: Class:

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Learning outcomes:

Describe how business activity can affect the environment. Explain the concept of externalities. Explain what sustainable development means. Explain how increasing concern for environment and pressure groups are

influencing business decisions. Explain how legal controls can be used to influence business decisions to

protect environment.

BUSINESS ACTIVITY AND THE ENVIRONMENT

Definitions to learn: Social responsibility __________________________________________ ___________________________________________________________ Environment ________________________________________________ ___________________________________________________________

EXTERNALITIES

Definitions to learn: Private costs _______________________________________________ ___________________________________________________________ Private benefits ______________________________________________ ___________________________________________________________

External costs _______________________________________________ ___________________________________________________________

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External benefits _____________________________________________ ___________________________________________________________

Social costs ________________________________________________ ___________________________________________________________

Social benefits ______________________________________________ ___________________________________________________________

SUSTAINABLE DEVELOPMENT

Definitions to learn: Sustainable development _____________________________________ ___________________________________________________________

Sustainable production methods ________________________________ ___________________________________________________________

Sustainable development What can business do? 1. Use r_____________ energy Explanation: ________________________________________________ ___________________________________________________________ 2. R___________ waste Explanation: ________________________________________________ ___________________________________________________________

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3. Use f________ resources Explanation: ________________________________________________ ___________________________________________________________ 4. D___________ new e________________ friendly Explanation: ________________________________________________ ___________________________________________________________

RESPONDING TO ENVIRONMENTAL PRESSURES AND OPPORTUNITIES A) Pressure Groups

Definitions to learn: Pressure groups ____________________________________________ ___________________________________________________________

Consumer boycott ___________________________________________ ___________________________________________________________

Pressure group activities is likely to change business actions when:

Pressure group activity is unlikely to result in a change in business

actions when:

a)

b)

c)

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B) Laws passed by government 1. L _____________ in environmentally sensitive areas such as national parks. 2. M_____________ products that cannot easily be recycled. 3) F___________ penalties, including pollution permits. ETHICAL ISSUES Definition: _______________________________________________________ _______________________________________________________________