Which of the Following Statements Is True of Formalism

question 21

Multiple Choice

Which of the following statements is true of formalism?

• A) It is primarily concerned with the consequences of a person's action rather than the action itself.
• B) It lays more emphasis on end results and their evaluation.
• C) It focuses more on common good rather than on individual rights.
• D) It is an approach to ethics that affirms an absolute morality.
• E) Its dominant form is utilitarianism.

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Definitions:

World's Output

The total production of goods and services by all countries around the globe over a specific time period.

Rules of The Game

Informal and formal institutions, norms, and conventions that shape interactions and decision-making in economic, social, and political environments.

Institutional Elements

Components of a society's system, including laws, regulations, norms, and conventions that shape economic and social interactions.

Property Rights

This term denotes the legal rights to own, use, and dispose of assets. It's a foundational element of market economies, affecting the allocation and use of resources.