The Utilitarian Principle,or Principle of Utility,is Also Called The

question 18

Multiple Choice

The utilitarian principle,or principle of utility,is also called the:

• A)principle of minimal happiness.
• B)principle of diminishing returns.
• C)hedonistic formula.
• D)greatest happiness principle.

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Definitions:

Compete

To engage in an effort to win or excel against others, often in business, sports, or any area where performance and achievement are measured against others.

Apparent Authority

Apparent authority refers to a situation where a third party reasonably believes that an agent has the authority to act on behalf of another (the principal), even if such authority has not been explicitly or implicitly granted.

Silent Partners

Investors in a partnership who contribute capital but do not take part in the management and are not known to the public.

Duty to Serve

An obligation to provide service, often seen within certain professions or regulated industries.