The Fair Results Approach to Fairness

question 4

Multiple Choice

The fair results approach to fairness

• A) requires property rights and voluntary exchange.
• B) supports transferring income from the rich and giving it to the poor.
• C) requires efficient market outcomes.
• D) ensures that marginal cost equals marginal benefit.
• E) never creates a big tradeoff.

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Definitions:

Existing Product

A good or service that is currently available in the market and known to consumers.

Customer Needs

Customer needs are the requirements and desires that customers expect a product or service to fulfill.

Operations

The day-to-day activities required for an organization to function effectively and achieve its objectives.

Output Goals

Objectives focused on the results or outcomes of a task, process, or project.