Examlex
In the context of business ethics, distinguish between bribery and extortion with examples.
Philosopher-Economist
An individual who contributes to the fields of philosophy and economics, often analyzing the ethical implications of economic theories or decisions.
Jeremy Bentham
A British philosopher, jurist, and social reformer in the 18th century, known as the founder of modern utilitarianism.
Marginal Utility
The further happiness or usefulness a person gets from consuming an additional unit of a product or service.
Total Utility
The total satisfaction received from consuming a particular quantity of goods or services.
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