Learned Associations and Scientific Societies Formed During the Scientific Revolution

question 19

Multiple Choice

Learned associations and scientific societies formed during the Scientific Revolution to

• A)make sure scientific knowledge remained only with those actively working on scientific discoveries.
• B)ensure that scientific knowledge remained only in the upper classes.
• C)ensure royal funding for the scientific community.
• D)protect scientists from the Inquisition.
• E)ensure the spread of scientific knowledge to those who were interested.

Analyze ethical business decisions through various ethical philosophies.

Apply the principles of utilitarian ethics in business decisions.

Understand the role of cost-benefit analysis in utilitarianism and ethical decision-making.

Grasp the concept and key factors of corporate social responsibility (CSR) in business practices.

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Definitions:

Producer Surplus

The difference between what producers are willing to sell a good for and the actual price they receive, serving as an indicator of producer welfare.

Direct Price Discrimination

A pricing strategy where a business charges different prices to different customers for the same product or service, based on willingness to pay.

Arbitrage

A means to defeat a price discrimination scheme; it occurs when low-value individuals are able to resell their lower-priced goods to the higher-value group.

Low-value Group

A segment of the market or population perceived to have less purchasing power or economic importance.