The Notion of ________, an Ethical System, Is Similar to Adam

question 33

Multiple Choice

The notion of ________, an ethical system, is similar to Adam Smith's concept of the invisible hand in business.

• A) utilitarianism
• B) universalism
• C) egoism
• D) relativism
• E) humanitarianism

---

Definitions:

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, often used to gauge the sensitivity of demand.

Constant Slope

A straight line graph that indicates a uniform rate of change between two variables.

Price-inelastic

Price-inelastic describes a situation where the demand for a good or service is relatively unaffected by changes in its price, indicating that consumers continue to purchase it even if the price increases.

University of Michigan

A public research university located in Ann Arbor, Michigan, known for its rigorous academic programs and significant contributions to research.