Examlex

Solved

One of the Most Obvious Clues to the Relative Scarcity

question 101

Multiple Choice

One of the most obvious clues to the relative scarcity of a product in a market economy is:


Definitions:

Egalitarian Nature

The quality or state of believing in or promoting equal rights, benefits, and opportunities for all individuals.

Inequality

The state of being unequal, particularly in terms of rights, status, or opportunities among different groups of people.

Veil of Ignorance

A concept in moral and political philosophy that suggests making decisions with a hypothetical lack of information about one's status or position in society to ensure fairness.

Original Position

A hypothetical scenario used in political philosophy, particularly by John Rawls, to establish principles of justice that are chosen by individuals under a veil of ignorance, without knowledge of their place in society.

Related Questions