The View That Justice Involves Four Parties, Offender and Victim

question 44

Multiple Choice

The view that justice involves four parties, offender and victim, government and community, is called:

• A) restorative justice
• B) universal justice
• C) particular justice
• D) retributive justice

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Definitions:

Total Revenue

Total revenue is the entire amount of money received by a company from its business activities, such as sales of goods and services, before any costs or expenses are deducted.

Marginal Revenue Curve

A graphical representation showing how marginal revenue varies with changes in quantity sold, often used to determine the optimal level of output for maximizing profit.

Perfectly Competitive

A market structure characterized by a large number of small firms, identical products, and free entry and exit which leads to firms earning normal profits in the long run.

Monopolist

A single seller in a market, who has significant control over the price and supply of a product.