Alfred Marshall Discovered the Concept of

question 84

Multiple Choice

Alfred Marshall discovered the concept of

• A)utility.
• B)consumer surplus.
• C)diminishing marginal utility.
• D)the diamond-water paradox.

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Definitions:

Consequentialism

An ethical theory that judges whether something is right or wrong based on the consequences of the actions.

Categorical Imperative

A central concept in Kantian ethics that acts as a universal principle, directing individuals to act in a manner that could be universally adopted.

Interactional Justice

The perceived fairness of the interpersonal treatment people receive in organizational settings, often focusing on respect and propriety in communications.

Idealism

A philosophical approach that asserts reality is fundamentally mental or spiritual in nature, emphasizing the importance of ideals, values, and moral principles.