Examine Locke's Notion of the Social Contract

question 45

Essay

Examine Locke's notion of the social contract.How does it relate to the "divine right" theory of kingship? How does it relate to these revolutions? What important Enlightenment ideas played a key role in these revolutions?

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Definitions:

Monopolistically Competitive

A market structure where many firms sell similar but not identical products, allowing them some power to influence prices.

Efficient Use of Resources

An economic condition where resources are allocated in the most effective manner possible to meet the needs and desires of consumers.

Long-Run Equilibrium

A state in which all firms in a market or industry are making normal profits and there is no incentive for firms to either enter or exit the market.

Price

The monetized value required, forecasted, or offered in return for a service or good.