John Rawls's Maximin Principle States That Justice Requires

question 34

Multiple Choice

John Rawls's maximin principle states that justice requires:

• A) maximizing the benefits to society's most underprivileged group.
• B) maximizing wealth while minimizing costs.
• C) maximizing total wealth in society.
• D) equalizing wealth across all individuals.

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Definitions:

Long-Run Supply Curve

A graphical representation showing the relationship between price and the quantity supplied over time, when all inputs can be adjusted.

Competitive Market

A market structure characterized by many buyers and sellers, resulting in competition that influences prices and product offerings.

Limited Quantities

Refers to the restricted availability of goods or resources, which can affect pricing, demand, and supply conditions.

Opportunity Costs

The penalty of bypassing the next most advantageous option when a decision is made.