Which of the Following Scenarios Best Describes Jeremy Bentham's Utilitarian

question 29

Multiple Choice

Which of the following scenarios best describes Jeremy Bentham's utilitarian philosophy?

• A)A company restructure increases profits by casualising the majority of the workforce.
• B)A company reduces their workforce in order to increase commission payments to the board of directors.
• C)A company restructure results in lower profits but ensures that all employees are retained.
• D)A company promoted an employee who exceeded their annual sales target.

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Definitions:

Price Floor

A legally established minimum price below which a good or service cannot be sold, often set to protect producers or farmers from too low prices.

Shortage

A market condition where the demand for a good or service exceeds the supply available at the existing price, resulting in scarcity.

Surplus

Occurs when the quantity of a good or service supplied exceeds the quantity demanded at a specific price, often leading to lower prices.

Price Ceiling

A legal maximum price that can be charged for a good or service, typically set by government to prevent prices from becoming too high.