Ch2 Flashcards : Ethics and Economics and policy

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Ethics

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A set of moral principles that provides guidelines for our behavior.

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Deontological ethics

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An approach to ethics that establishes duties that ought to be upheld and rights that ought to be protected.

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Intrinsic value

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The value of something in and of itself and apart from its usefulness to others.

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Earth Charter

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A United Nations initiative completed in 2000 that outlines duties for the people of Earth, including protecting and restoring Earth's ecological systems.

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Utilitarianism

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An approach to ethics that defines what is right by determining what actions would bring as much good (or as little harm) as possible.

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Anthropocentrism

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An approach to ethics where moral concerns are focused on the interests of humans.

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Biocentrism

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An approach to ethics where the interests of all living things are considered.

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Ecocentrism

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An approach to ethics concerned with all the living and nonliving components of ecosystems.

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Economic system

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A chain of exchange that helps shape the production, distribution, and consumption of things we use.

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Demand

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In economics, a concept reflecting how much someone (the consumer) desires and is willing to pay for a good.