| Number of flashcards in this category: 8. | |||
| 1. | ethical exchange | Both the buyer AND seller should be better off after transaction. | |
| 2. | ethics | subset of values concerned with ends or principles of conduct (not religion, laws, or society). | |
| 3. | utilitarian thoery | Does the greatest good for the most number of people. Looks mainly at the outcome, not the context. | |
| 4. | deontological theory | Regardless of consequences, determine based on what is the most significant obligation. Doesn't consider context, just action itself. "deon" = duty If the act were okay universally, would it be okay? | |
| 5. | rule utiliatarian | Greatest good: looks @ overarching rules. (Not case by case.) | |
| 6. | caveat emptor | "buyer beware"; now there are Consumer Bill of Rights. | |
| 7. | act utiliarianism | Greatest good for most people, on a case by case basis. | |
| 8. | egoism | maximize self interest | |