Sustainability And Ethics: Ethics: Ethics And Ethical Issues In Commerce (Copy)
Cheat Sheet: 6.2.1 Ethics and Ethical Issues in Commerce
Meaning of Ethics
| Term | Explanation | Example |
|---|---|---|
| Ethics | Moral principles guiding right and wrong in business decisions | Refusing to sell counterfeit goods |
Written and Compiled By Sir Hunain Zia, World Record Holder With 154 Total A Grades, 7 Distinctions and 11 World Records For Educate A Change O Level And IGCSE Commerce Full Scale Course
Role of Fair Trade
| Aspect | Explanation | Example |
|---|---|---|
| Fair Trade | Ensures producers in developing countries get fair wages and working conditions | Coffee with Fairtrade certification |
| Impact | Promotes sustainable farming, reduces exploitation | Farmers in Africa earning stable incomes |
| Consumer Appeal | Ethical consumers prefer fair-trade goods | Buying fair-trade chocolate |
Written and Compiled By Sir Hunain Zia, World Record Holder With 154 Total A Grades, 7 Distinctions and 11 World Records For Educate A Change O Level And IGCSE Commerce Full Scale Course
Ethical Issues in Commerce
| Issue | Explanation | Example |
|---|---|---|
| Misleading Advertising | False or exaggerated product claims | Weight-loss pills promising “instant results” |
| Harmful Disposal of Products | Dumping waste unsafely, harming environment/people | Electronics company dumping toxic waste in rivers |
Written and Compiled By Sir Hunain Zia, World Record Holder With 154 Total A Grades, 7 Distinctions and 11 World Records For Educate A Change O Level And IGCSE Commerce Full Scale Course
Summary
| Key Idea |
|---|
| Ethics in commerce ensures fairness, honesty, and responsibility. |
| Fair trade supports producers, while avoiding misleading advertising and harmful disposal protects consumers and the environment. |
Written and Compiled By Sir Hunain Zia, World Record Holder With 154 Total A Grades, 7 Distinctions and 11 World Records For Educate A Change O Level And IGCSE Commerce Full Scale Course