Bill Gates Is the World's Second Richest Person Whose Net

question 37

Multiple Choice

Bill Gates is the world's second richest person whose net worth is estimated at $54 billion. The idea that Bill Gates marginal utility for his 54 billionth dollar is less than someone else's 1000^th dollar is the

• A) "Utilitarian" principle.
• B) "Big Tradeoff" principle.
• C) "Make the Poorest as Well Off as Possible" principle.
• D) "Equity" principle.

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Definitions:

Natural Law Theory

A philosophical theory asserting that certain rights or values are inherent by virtue of human nature and can be universally understood through human reason.

Feudal Responsibility

Refers to the obligations and duties in the feudal system where a vassal must serve a lord in exchange for land or protection.

Trial by Battle

A historical method of resolving disputes by combat, now obsolete in modern legal systems.

Travelling Courts

Courts that move from place to place to hear and decide cases, typically found in regions where accessing a fixed court location is challenging.