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Rawls' Theory Includes the Idea That People Should Have the Same

question 30

Short Answer

Rawls' Theory includes the idea that people should have the same basic rights. This is called ______ or justice as fairness.


Definitions:

Average Product

The output per unit of a particular input, such as labor or capital.

Optimal Production Technique

A method that contributes to the most efficient process of producing goods and services given the available resources and technology.

Price of Capital

The cost of using capital assets, including the interest or finance charges paid on borrowed funds or the opportunity cost of using owned capital.

Price of Labor

The wage rate or the cost of hiring workers in the labor market.

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