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IIBM Institute of Business Management
Examination Paper
Business Ethics
Section-A

Part One:
Multiple Choices:
1. (a) Information Technology

2. (a) Equal distribution of all benefits & burdens on peoples

3. (c) Retributive Justice

4. (b) Free Markets

5. (d) Historical Materialism

6. (a) Pure Monopoly

7. (a) Highly concentrated Markets

8. (b) Chlorofluorocarbons

9. (b) Market Cost

10. (c) Both (a) and (b)

Part Two:
1.
Definition: Mineral depletion is the ratio of the value of the stock of mineral resources to the remaining reserve lifetime (capped at 25 years). It covers tin, gold, lead, zinc, iron, copper, nickel, silver, bauxite, and phosphate.
At first glance, sustainability and mineral resource development appear to be in conflict. Mining depletes finite resources and in a strict sense, therefore, is inherently unsustainable. For instance, there is only a finite amount of copper in the earth’s crust, and each unit of copper extracted increases the fraction of the total copper resource base that is in use. Thus, it can be argued that if we continue to mine we will eventually exhaust the available supply of minerals.
This perspective, however, ignores the dynamics of mineral supplies. In practice the non-renewable character of minerals may be less constraining than it might seem. Five factors make the benefits from mining much more sustainable than they initially appear to be. First, through the process of exploration and development, mining companies continually reinvigorate, augment, or “sustain” their reserves. Current reserves represent only a small portion of the mineral resources remaining in the earth’s crust. Exploration and development lead to the discovery and proving up of previously unknown mineral deposits and—perhaps just as important—additional reserves at existing mines and known deposits. Technological…...

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