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Sustainable Develop

Chapters 40 and Chapter 41 EdCo JC

TermDefinition
Sustainable development Meeting the needs of the present without compromising the ability of future generations to meet their own needs.
Total Lifecycle approach Involves examining the environmental cost of the product across all stages of its production and disposal, i.e. from the cradle to the grave.
Business Ethics The moral principles that influence the way a business behaves to consumers, suppliers, employees, shareholders, the government and society.
Corporate Social Responsibility Sets out how the organisation will act to benefit society or the environment.
Stakeholders People who influence the business or who are influenced by the business.
Cartel An illegal agreement between a group of producers to regulate supply of a particular good or service in an effort to manipulate prices.
Importing Buying products or services from abroad.
Exporting Selling products or services to other countries.
Visible Exports Selling physical products to other countries.
Visible Imports Buying physical products from abroad.
Invisible Exports Selling services to other countries.
Invisible Imports Buying services from abroad.
Open Economy A country which engages in international trade, i.e. exporting and importing.
Free trade This is when countries can buy and sell without any trade barriers or restrictions in place.
Global Business Sees the world as one market.
Created by: jennymarshall
 

 



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