In two to three (2-3) paragraphs:
- Briefly define, in your own words, the concepts of capitalism and socialism. Then list three pros and cons of each.
The specific course learning outcomes associated with this assignment are:
- Determine the considerations for and process of ethical business decision making to balance corporate and social responsibilities, and address moral, economic, and legal concerns.
- Analyze selected business situations using the predominant ethical theories, such as utilitarian, Kantian, and virtue ethics to guide ethical business decision making.
- Use technology and information resources to research issues in business ethics.
- Write clearly and concisely about business ethics using proper writing mechanics.