Rawls Believed That

question 24

Multiple Choice

Rawls believed that:

• A) There should be perfect equality of resource allocation in society
• B) Imperfect resource allocation benefits society because it encourages innovation and hard work
• C) Resource allocation should resemble a normal statistical distribution, with most people concentrated around the median
• D) Disproportionately greater resource allocations to some in society is acceptable as long as it results in a higher standard of living for those with lower incomes

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Definitions:

Market Outcomes

The results of interactions between buyers and sellers in a market, determining price levels and quantities of goods and services exchanged.

Marginal Cost

The additional outlay required for the production of an extra unit of a product or service.

Automobile

A wheeled motor vehicle used for transportation, typically carrying passengers.

Competition

A market condition where various sellers vie to attract customers by offering better terms, services, or goods.