The _________ Approach States That an Ethical Action Is the One

question 56

Multiple Choice

The _________ approach states that an ethical action is the one that provides the most good or does the least harm.

• A) common good
• B) deontology
• C) fairness
• D) rights
• E) utilitarian

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Definitions:

Pareto Optimal

An allocation scenario where it is impracticable to enhance the situation of any entity or preference measure without causing a decline for at least one other entity or benchmark.

Endowment

The stock of assets or resources provided to an individual, institution, or country, typically used to generate income or contribute to wealth.

Pure Exchange Economy

An economic model where no production occurs and individuals or entities trade pre-existing goods and services among each other.

Walras's Law

A principle in general equilibrium theory stating that if all markets but one are in equilibrium, then the remaining market must also be in equilibrium.