A Libertarian Would Be Likely to Argue That

question 3

Multiple Choice

A libertarian would be likely to argue that

• A) equality of outcomes in a society does not matter; it's the fairness of the processes that lead to those outcomes that matters.
• B) equality of opportunities is more important than equality of incomes.
• C) the government should not redistribute resources from some individuals to others.
• D) All of the above.

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Definitions:

Cash Sales

Transactions where goods or services are purchased and paid for with cash at the time of the sale.

Perpetual Inventory

An inventory management system where inventory quantities and costs are updated continuously with each sale or purchase transaction.

Accounts Payable

Liabilities of a business that represent its obligations to pay off a short-term debt to its creditors or suppliers.

Inventory

The overall quantity of products and resources that a business possesses, which are either for sale or to be utilized in manufacturing.