When Everyone Is Pursuing Self-Direction, the Greater Good Is Ultimately

question 89

Multiple Choice

When everyone is pursuing self-direction, the greater good is ultimately served because people learn to accommodate each other in their own long-term interest is an example of the __________ approach.

• A) utilitarian
• B) individualism
• C) moral-rights
• D) justice
• E) practical

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Definitions:

Blockade

An act of sealing off a place to prevent goods or people from entering or leaving, typically implemented as a form of economic or military pressure.

Producer Surplus

The difference between what producers are willing to sell a good for and the actual price they receive.

Autarky

A financial strategy or condition where a nation is independent and refrains from participating in global commerce.

Free Trade

Trade that is unregulated by government tariffs or other artificial barriers; the levels of exports and imports occur naturally, as a result of supply and demand.