Reference: Ref 20-3 (Table: Society A, B, C, D) Refer

question 40

Multiple Choice

Reference: Ref 20-3 (Table: Society A, B, C, D) Refer to the table. According to the maximin principle, which of the societies is ranked lowest?

• A) A
• B) B
• C) C
• D) D

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Definitions:

Moving From Point

The process of going from one position or condition to another, often used in discussions about changes in economic indicators or market positions.

Perfectly Adaptable

Characterizes a scenario or system that is fully capable of adjusting seamlessly to changes or different conditions.

Opportunity Cost

Forgoing potential gains from different options when a specific alternative is selected.

Law Of Increasing

This term seems incomplete. If referring to the "Law of Increasing Costs," it describes how producing more of one good requires increasingly larger sacrifices of other goods.