________ Considers Acceptable Behavior to Be That Which Maximizes Benefits

question 90

Multiple Choice

________ considers acceptable behavior to be that which maximizes benefits for the individual.

• A)Egoism
• B)Ethnocentrism
• C)Relativism
• D)Universalism
• E)Utilitarianism

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Definitions:

Demand

The quantity of a good or service that consumers are willing and able to purchase at a given price over a specific period.

Quantity Sold

The total number of units of a product or service that have been purchased by customers in a specific time period.

Quantity Supplied

The total amount of a good that sellers are willing to sell at a given price over a specified period.

Equilibrium Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded.