BUSI 300 QUIZ 4 KEY BUSINESS CONCEPTS AND REVIEW NOTES 2026

BUSI 300 QUIZ 4 KEY BUSINESS CONCEPTS
AND REVIEW NOTES 2026

◉ What is society? Answer: A group of people sharing a common set
of values and norms.


◉ What are values? Answer: Ideas about what a group believes to be
good, right, and desirable (e.g., individualism, equality, diversity,
unity, liberty, self-government).


◉ What are norms? Answer: Social rules and guidelines that
prescribe appropriate behavior in particular situations.


◉ What are folkways? Answer: Routine conventions of everyday life,
including rituals and symbolic behavior (e.g., dress codes, social
manners, being on time).


◉ What are mores? Answer: Norms central to the functioning of
society with greater moral significance (e.g., laws against theft).


◉ What does SLEEPR stand for? Answer: Social Structure, Language,
Education, Economic Philosophy, Political Philosophy, Religion.

, ◉ What does the S in SLEEPR stand for? Answer: Social Structure


◉ What does the L in SLEEPR stand for? Answer: Language


◉ What does the first E in SLEEPR stand for? Answer: Education


◉ What does the second E in SLEEPR stand for? Answer: Economic
Philosophy


◉ What does the P in SLEEPR stand for? Answer: Political
Philosophy


◉ What does the R in SLEEPR stand for? Answer: Religion


◉ What are the two dimensions of social structure? Answer: 1)
Whether society is based on individuals or groups, and 2) whether
society is stratified into classes or castes.


◉ How do Western societies view individuals? Answer: They
emphasize the individual as the basic unit and value personal
achievement.