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:

Miracle Cures

Unverified and often exaggerated treatments claimed to cure diseases or ailments quickly and without side effects.

Fraud

The deliberate deception or dishonesty intended to result in financial or personal gain.

Risk Management

The process of identifying, assessing, and controlling threats to an organization's capital and earnings.

Risk Assessments

The process of identifying, evaluating, and estimating the levels of risks involved in a situation, followed by the application of resources to minimize, control, or eliminate those risks.