According to John Rawls

question 103

Multiple Choice

According to John Rawls,

• A) each person should be permitted the maximum amount of basic liberty compatible with a similar liberty for others.
• B) freedom of speech and assembly is the single most important component in a justice system.
• C) equal basic liberty is impossible in a pure market economy.
• D) ethics is culturally determined.

---

Definitions:

Monopsony Power

The market power held by a single buyer in a market, allowing them to influence prices and terms of trade.

Elasticity Of Market

A measure of how the quantity demanded or supplied of a good changes in response to price or other economic factors.

Supply Elasticity

A measure of how much the quantity supplied of a good changes in response to a change in its price.

Buying Price

The cost at which an individual or organization is able to purchase a good, service, or asset.