Bentham Argued That People's Behavior Should Be Judged According to Its

question 33

Multiple Choice

Bentham argued that people's behavior should be judged according to its effects on the happiness of the rest of the community, a concept called ______.

• A) retributive justice
• B) restitutive justice
• C) the principle of utility
• D) the hedonistic calculus

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Definitions:

Government Intervention

Actions taken by a government to affect the economy, which can include policies, regulations, subsidies, tax incentives, and direct spending.

Market Equilibrium

A situation where the quantity of goods supplied is equal to the quantity of goods demanded, often resulting in a stable market price.

Excess Demand

A situation in the market where the quantity demanded of a good or service surpasses the quantity supplied at the current price, leading to upward pressure on prices.

Price Of Cheeseburgers

The amount of money required to purchase a cheeseburger, influenced by factors like production costs and market demand.