The Saying "The Lower the Price, the Better" May Not

question 117

Multiple Choice

The saying "the lower the price, the better" may not always be correct for an economy's public interest because

• A)people should have to pay for what they want.
• B)people will overuse something they perceive as being cheaper than the utility they receive for it.
• C)the government can no longer afford to provide all the goods and services it provides because it is slowly going broke.
• D)cheaper prices will make people buy less of other things.

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Definitions:

Norm

A standard or pattern of social behavior that is typical or expected within a specific group or society.

Moral Domains

Specific areas of moral judgment that distinguish between types of ethical or moral behavior.

Shweder

Richard A. Shweder, an anthropologist known for his work in cultural psychology and ethnopsychology, particularly regarding moral reasoning.

Competence Morals

Moral principles that emphasize the ethically correct way of acting in situations requiring skill, knowledge, and expertise.