The Classical View of Economics Holds That a Society Can

question 8

Multiple Choice

The classical view of economics holds that a society can best determine its needs and wants through

• A) a centrally planned economy.
• B) government owned factors of production.
• C) democracy.
• D) the marketplace.

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Definitions:

Restorative Justice

A system of criminal justice that focuses on the rehabilitation of offenders through reconciliation with victims and the community at large.

Distributive Justice

An ethical principle concerning the fair and equitable allocation of resources and benefits among all members of a society.

Progressive Discipline

A method of dealing with job performance problems that escalates through a series of steps, from verbal warnings to written warnings to suspension and, finally, termination.

Hot-Stove Rule

A management principle comparing the consequences of misconduct to touching a hot stove, implying that discipline should be immediate, consistent, impersonal, and related to the offense.