A Classic Ethical Dilemma Is the Hypothetical Case of a Man

question 53

Multiple Choice

A classic ethical dilemma is the hypothetical case of a man stealing from a grocery store in order to feed his starving family. If you used the Utilitarian Principle to evaluate this situation, you might argue that stealing the food is

• A) acceptable, because the grocer suffers the least harm.
• B) acceptable, because the higher value is the survival of the family.
• C) wrong, because the man would not want the grocer to steal from him.
• D) wrong, because if everyone were to do this, the concept of personal property is defeated.

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Definitions:

Market Power

The ability of a company or entity to influence or control the terms and conditions of the market to some degree, affecting prices and competition.

Externalities

Financial consequences for unrelated third parties, which can manifest as either positive or negative effects.

Perfectly Competitive

Describes a market structure where many firms sell identical products, there are no barriers to entry, and no single buyer or seller can influence the market price.

Allocate Resources

The process of distributing available resources, such as labor, capital, and land, among various uses to fulfill societal needs and wants.