Concept information
Preferred term
economics and ethics
Definition
- Studying the complex and evolving relationship between economics and ethics can provide interesting and important insights to improve the theory and practice of socially responsible business management. Economics is concerned with the development and application of positive (i.e., scientific) means to achieve efficient allocation of productive resources to enhance material prosperity and satisfy consumer preferences. [Source: Encyclopedia of Business Ethics and Society; Economics and Ethics]
Broader concept
Narrower concepts
- Austrian school of economics
- Bayesian approach to decision making
- commons (economics)
- consumer and producer surplus
- cowboy capitalism
- cross-subsidization
- deadweight loss
- dumping (trade)
- economic efficiency
- economic incentives
- economic rationality
- economics of well-being (post-welfarist economics)
- equilibrium (economics)
- expected utility
- externalities (decision making)
- Herfindahl Index
- implied warranties
- Incipiency Doctrine
- industrial policy
- just price
- law of unintended consequences
- marginal utility
- market power
- monopolies, duopolies, and oligopolies
- most favoured nation status
- nash equilibrium
- natural capital
- nonuse values
- Pareto efficiency
- positive economics
- private good
- productive efficiency
- public goods (business)
- restraint of trade
- social costs
- social efficiency
- spontaneous order
- tariffs and quotas
- von neumann-morgenstern utility function
- wage-and-price controls
- winner's curse
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/economics_and_ethics
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