Which Political Philosophy Focuses on the Process of Determining the Distribution

question 443

Multiple Choice

Which political philosophy focuses on the process of determining the distribution of income rather than on the outcome?

• A)utilitarianism
• B)liberalism
• C)libertarianism
• D)welfarism

---

Definitions:

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing between options.

Capital

Economic resources that are used to create goods and services, such as buildings, machinery, and equipment.

Accounting Profit

Total revenue minus total explicit cost

Economic Profit

The distinction in the amount between total sales and all costs, inclusive of apparent and implied expenses.