A set of values is a collection of beliefs and principles that guide an individual or group's behavior. The term 'set of values' can be broken down into three distinct words: ETHIC, ETHOS, and ETHICS. ETHIC is a noun meaning the moral principles that govern a person's behavior or the conducting of an activity. ETHOS is a noun meaning the characteristic spirit of a culture, era, or community as manifested in its attitudes and aspirations. ETHICS is a noun meaning the branch of knowledge that deals with moral principles.